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.
On September 22, 2020, SS&C Technologies Holdings (Nasdaq: SSNC) reported its GlobeOp Forward Redemption Indicator for September at 3.43%, an increase from 3.08% in August. This figure is lower than the 3.67% recorded a year prior, indicating a strong trend in hedge fund asset retention and high investor confidence. The indicator tracks redemption notices as a percentage of assets under administration, reinforcing positive sentiment in the hedge fund sector. Next publication is scheduled for October 21, 2020.
On September 21, 2020, RiverNorth Opportunities Fund, Inc. (NYSE: RIV) announced a rights offering for its stockholders to purchase additional shares. Stockholders of record as of October 2, 2020, will receive one transferable subscription right for each share held, with the ability to buy one new share for every three rights. The subscription price will be set at 95% of the higher of the net asset value or the market price on the expiration date, November 3, 2020. The offering will follow SEC regulations and a prospectus will be provided.
The ALPS REIT Dividend Dogs ETF (NYSE: RDOG) announced a third-quarter dividend of $0.3482 on September 16, 2020, payable on September 24, 2020. The ex-dividend date is September 17, 2020, with shareholders of record on September 18, 2020. ALPS Advisors manages over $12 billion as of June 30, 2020, focusing on sustainable income and growth strategies. Investors should review investment objectives and risks before investing, as real estate investments are susceptible to market fluctuations and economic conditions.
SS&C Technologies (NASDAQ: SSNC) launched GAMMA, an online education product aimed at financial professionals. This digital library offers hundreds of accredited courses across over 30 financial topics, including accounting, portfolio management, and software skills. Developed by the SS&C Learning Institute, GAMMA updates monthly to incorporate market changes and industry trends. With support for various industry certifications, the initiative aims to empower financial firms during challenging times by providing essential resources and tools for remote learning.
SS&C Technologies announced that Blue Creek Capital Management has launched operations using the Eze Eclipse platform in Hong Kong. The platform automates investment processes for Blue Creek's China-focused fund. In the last year, Eze Eclipse has signed 27 fund managers in the Asia-Pacific region, facilitating 20 new fund launches. The platform offers market data, trading connectivity, and compliance features, emphasizing accessibility for global fund managers. SS&C Eze was recently recognized as the 'Best Third-Party Technology Provider' in Asia.
SS&C Technologies (Nasdaq: SSNC) has announced the launch of two new funds, the ALPS | Smith Credit Opportunities Fund and the ALPS | Smith Balanced Opportunity Fund. These funds aim to provide risk-adjusted returns and income by employing active management strategies. The Credit Opportunities Fund focuses on a diverse range of credit markets, while the Balanced Opportunity Fund seeks long-term capital growth through a mix of equities and fixed income. ALPS Advisors currently manages nearly $1.5 billion in assets across its funds.
On September 14, 2020, SS&C Technologies (Nasdaq: SSNC) announced its partnership with Conbrio Fund Partners for transfer agency support for its GBP1.5 billion fund range. The migration of Conbrio's funds to SS&C's full-service platform was completed within six months. Richard Slattery-Vickers from Conbrio emphasized SS&C's integrated service model, vital for future growth. CEO Nick Wright highlighted the swift migration as evidence of SS&C's capabilities, especially in a remote working environment.
SS&C Technologies (Nasdaq: SSNC), a global leader in financial services software, announced that Patrick Pedonti, Chief Financial Officer, will present at Deutsche Bank's Virtual Technology Conference on September 15, 2020, at 9:40 am ET. This event aims to discuss the company's innovations and strategies in software and services for financial and healthcare sectors. The presentation will be available via webcast on SS&C's investor relations website.
Founded in 1986 and headquartered in Windsor, Connecticut, SS&C supports approximately 18,000 clients worldwide.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) announced a strategic partnership with Nationwide to enhance its advisor-sold retirement plan platform. This collaboration will advance Nationwide's retirement business, allowing entry into new markets and accelerating platform modernization. SS&C will manage technology and processes for Nationwide's retirement solutions starting in 2021. Eric Stevenson, president of Nationwide's retirement plans, highlighted the commitment to providing improved solutions for plan sponsors and participants. SS&C aims to deliver an enhanced digital experience for customers.
SS&C Technologies Holdings has launched TimeShareWare Arrive, a contactless guest communication solution aimed at enhancing the vacation experience while ensuring safety amid COVID-19. This new technology allows guests to check-in and communicate with resort staff via their mobile devices, computers, or kiosks. Integrated with TimeShareWare software, it streamlines operations for shared-ownership properties and enhances guest privacy. Available in the U.S., Mexico, and the Caribbean, this innovation highlights SS&C's commitment to adapting to industry demands.
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