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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) reported its financial results for Q4 and FY 2020. Revenue for Q4 was $1,203.4 million, virtually unchanged YoY, while FY 2020 revenue rose 0.8% to $4,667.9 million. Operating income increased 2.8% in Q4 and 7.8% for the full year. Diluted EPS grew by 37% in Q4 and 41.6% for FY 2020. The company generated $1,184.7 million in operating cash flow despite a decline compared to 2019. Guidance for Q1 2021 forecasts adjusted revenue between $1,158 million and $1,198 million, reflecting cautious optimism amid ongoing pandemic challenges.
SS&C Technologies (Nasdaq: SSNC) announced significant updates to its Eze Investment Suite, enhancing features to boost productivity and flexibility for clients. Key highlights include a new mobile app, improved trade synchronization, and enhanced fixed income analytics. The company reported a 40% increase in order flow driven by higher equities trading volumes. SS&C invested tens of millions in these enhancements and appointed James Griffin as head of global sales for Eze. The investment suite is recognized as a critical tool for firms like Donoghue Forlines, reflecting its importance in the investment management technology market.
On January 25, 2021, SS&C Technologies Holdings announced a significant decrease in its SS&C GlobeOp Forward Redemption Indicator, which fell to 1.78% for January 2021, down from 3.95% in December 2020 and 2.26% in January 2020. This marks the lowest January figure since the indicator's inception in 2008, indicating increased investor confidence in hedge funds. The trend of declining redemptions continues for the seventh consecutive month, reflecting overall stability in hedge fund asset retention since the COVID-19 pandemic.
SS&C Technologies Holdings (Nasdaq: SSNC) will release its financial results for Q4 and full year 2020 on February 10, 2021. The earnings announcement follows the close of market and will be discussed in a conference call at 5:00 p.m. ET. Investors can access the release via SS&C's website. For further engagement, an audio replay will be available post-call until February 17, 2021. The company supports over 18,000 organizations in financial services and healthcare sectors.
SS&C Technologies (NASDAQ: SSNC) has been selected by Zephyr Management to support its Bermuda fund launch. SS&C will provide its Eze Eclipse platform for modeling, trading, order management, and seamless integration of middle- and back-office operations. The partnership will also include SS&C's automation of investor experiences and regulatory reporting through CORE-Sightline. With over 80 funds currently utilizing SS&C's integration capabilities, the collaboration aims to maximize operational efficiency. Zephyr has a history of managing $1.2 billion in assets across 26 investment funds.
SS&C Technologies (Nasdaq: SSNC) announced that its Chief Financial Officer, Patrick Pedonti, will present at the Needham's 23rd Annual Virtual Growth Conference on January 12, 2021, at 4:15 pm ET. The event can be accessed via a webcast on the company's investor relations website. Founded in 1986 and headquartered in Windsor, Connecticut, SS&C provides software and services for the financial services and healthcare industries, serving over 18,000 organizations globally.
SS&C Technologies (Nasdaq: SSNC) announced that North Reef Capital Management has selected its front-to-back office solution for operations. This comprehensive solution integrates Eze Eclipse technology and SS&C's fund administration services, catering to over 80 emerging funds. The offering includes advanced portfolio management, compliance, and analytics tools to aid regulatory and risk management needs. North Reef seeks to establish its fund advisory business with top-tier infrastructure, enhancing growth potential while managing costs effectively.
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