Welcome to our dedicated page for SS&C Technologies news (Ticker: SSNC), a resource for investors and traders seeking the latest updates and insights on SS&C Technologies stock.
SS&C Technologies Inc. (NASDAQ: SSNC), founded in 1986, is a global provider of software products and software-enabled services that focus primarily on the financial services and healthcare sectors. Headquartered in Windsor, Connecticut, SS&C operates worldwide, offering solutions that encompass account administration, asset valuation, compliance processing, data gathering, investment accounting, performance measurement, and regulatory reporting.
The company caters to a diverse clientele, including asset managers, banks, financial advisors, insurance companies, real estate investment trusts (REITs), and alternative investment firms. SS&C's offerings are tailored to meet the specific needs of each industry, ensuring operational excellence and compliance with regulatory requirements. By leveraging state-of-the-art technology, SS&C helps its clients manage and account for investments totaling over $44 trillion.
SS&C's product suite includes SS&C GlobeOp, which provides fund administration services to alternative and traditional asset managers, and Intralinks, a leading provider of Virtual Data Room solutions. The acquisition of DST Systems in 2018 expanded SS&C's footprint into the healthcare sector, adding pharmacy health management solutions and medical claim administration services to its portfolio. More recently, in 2022, SS&C acquired Blue Prism, further enhancing its intelligent automation capabilities.
SS&C's latest strategic moves include a partnership with Regnology to deliver an integrated risk and regulatory reporting solution designed to streamline compliance and analytical insights. This collaboration aims to help financial institutions adapt swiftly to regulatory changes, enhancing their operational efficiency.
Financially, SS&C has demonstrated robust performance, with record adjusted revenue and consolidated EBITDA for the full year 2023. The company generated over $1.2 billion in operating cash flow and maintains a strong cash position with a net leverage ratio of 3.05 times consolidated EBITDA. Despite global economic uncertainties, SS&C continues to see opportunities in both the financial services and healthcare markets, driven by strategic acquisitions and partnerships.
SS&C is also enhancing its global reach, recently receiving regulatory approval to expand its fund administration services in the Abu Dhabi Global Market. This move reinforces SS&C's commitment to providing comprehensive financial technology solutions across different regions and markets.
SS&C Technologies (Nasdaq: SSNC) announces that Missouri Farm Bureau will transition its insurance investment accounting to SS&C SmartSource services powered by Singularity. This platform utilizes artificial intelligence to enhance investment accounting through robotic process automation, machine learning, and predictive analytics in a cloud-based system.
Missouri Farm Bureau's migration aims to improve transparency, data access, and analytical insights, enhancing operational efficiency.
SS&C Technologies has announced the acquisition of Millennium Consulting Services and Millennium Seminar Services, based in Raleigh, North Carolina. The acquisition aims to enhance SS&C's consulting and training services for the insurance sector. Although the transaction value was not disclosed, the deal will add 13 employees and is expected to create synergies between Millennium's expertise and SS&C's technology offerings. This move is positioned to bolster SS&C's market presence and service delivery in a competitive landscape.
On December 15, 2020, SS&C Technologies (Nasdaq: SSNC) unveiled its Blue Sky Portal, a cloud-based technology solution aimed at assisting investment managers with compliance to state Blue Sky laws. This portal streamlines the compliance process by providing features like updated state fee calculations, an enhanced exemption process, and a comprehensive audit trail, improving operational efficiency.
Over 70 clients, including various fund types, will benefit from SS&C's significant investment in compliance services, enhancing their regulatory management capabilities.
SS&C Technologies Holdings (Nasdaq: SSNC) released its Q1 2021 SS&C Intralinks Deal Flow Predictor, indicating a recovery in global M&A activity. Worldwide M&A deal announcements are predicted to show double-digit growth in H1 2021. Key regions include Asia-Pacific with a 27% YOY increase, and Europe, Middle East, and Africa anticipating a 20% rise. Latin America is expected to grow by 22%, while North America forecasts a modest 5% increase. The report emphasizes the importance of early-stage M&A activity as a predictor for future announcements.
SS&C Technologies (Nasdaq: SSNC) announced that Janus Henderson has selected SS&C Global Investor & Distribution Solutions (GIDS) and IFDS for global transfer agency services for its funds, particularly in ex-U.S. jurisdictions. The initial phase included migrating over 15,000 Irish accounts totaling more than EUR10 billion in assets under management. This partnership aims to offer improved recordkeeping, operational insights, and real-time support, enhancing client experience through advanced technology and a 'follow-the-sun' support model.
SS&C Technologies (Nasdaq: SSNC) has secured a partnership with Fortlake Asset Management, an emerging manager based in Sydney. Fortlake, which launched this month, chose SS&C's Eze Investment Suite to enhance its investment operations. The suite will facilitate various trading and portfolio accounting functions for Fortlake, focusing on Australian and international fixed income instruments. The collaboration aims to provide robust trading infrastructure, supporting strategies across asset classes, including bonds and OTC securities.
SS&C Technologies, a leader in financial services software, has been appointed as the fund administrator for Kedaara Capital Advisors, a private equity firm based in Mumbai. This partnership will enable Kedaara to leverage SS&C GlobeOp's advanced investor services technology and performance reporting tools. Bhagesh Malde, Global Head of Real Assets at SS&C, emphasized the importance of cutting-edge technology to support India's booming investment management industry. This collaboration aims to enhance operational efficiency for Indian investment managers competing on a global scale.
SS&C Technologies will have its President and COO, Rahul Kanwar, present at the Credit Suisse 24th Annual Technology Conference on December 2, 2020, at 10:10 am ET. The presentation will showcase SS&C's innovations and offerings in software and services for the financial services and healthcare industries. A webcast of the event will be accessible on the SS&C investor relations website.
Founded in 1986 and headquartered in Windsor, Connecticut, SS&C supports approximately 18,000 organizations worldwide.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) reported that the SS&C GlobeOp Forward Redemption Indicator for November 2020 stands at 3.63%, a rise from 2.84% in October. This number represents a decrease from 4.81% in November 2019, marking the lowest November figure since 2011. The data indicates a positive trend in hedge fund asset retention as investor confidence remains strong post-COVID-19. The next Indicator publication is set for December 21, 2020.
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