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) reported strong Q2 2024 financial results, with GAAP revenue up 6.5% to $1,451.5 million and adjusted revenue also up 6.5% to $1,452.4 million. The company's GAAP diluted EPS increased 47.1% to $0.75, while adjusted diluted EPS rose 17.6% to $1.27. SS&C's organic revenue growth was 6.4%, with financial services recurring revenue growing 7.7%.
Notably, SS&C announced a $1 billion common stock repurchase program, demonstrating confidence in its long-term value. The company also provided guidance for Q3 and full-year 2024, projecting continued growth in revenue and earnings. SS&C's strong performance is attributed to its aggressive stock buybacks and focus on maximizing long-term shareholder value.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has released the SS&C Intralinks 2024 Artificial Intelligence in M&A Report, based on a survey of 300 global M&A professionals. The report highlights the accelerating adoption of AI in the M&A industry, with 97% of participants believing AI will profoundly impact their operations.
Key findings include:
- Talent and skills are seen as the biggest challenges in AI adoption
- 43% have already invested in AI training for deal teams
- 25% cite quality control and reliable performance as top risks
- Predictive analytics and generative AI are considered the most valuable AI tools
The report also explores practical applications of AI in dealmaking, such as generating more accurate valuations and enhancing data analysis. As AI adoption accelerates, it is expected to become a significant competitive differentiator in the M&A industry.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has announced significant updates across its SS&C Advent and Eze solutions for the first half of 2024. The company is focusing on collaboration between teams to deliver innovative solutions. Key highlights include:
1. Introduction of the Genesis platform for a connected investment experience across front, middle, and back offices.
2. Enhancements to Geneva® for alternative investment managers, including new fee structures and automated workflows.
3. Updates to Eze Eclipse with simplified trading workflows and expanded asset class support.
4. Improvements to Eze OEMS with bolstered fixed-income trading capabilities and UI enhancements.
These updates aim to provide clients with cutting-edge technology and services to improve efficiency and accuracy in investment management.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has released its Q3 2024 global and regional M&A predictions through the SS&C Intralinks Deal Flow Predictor. The report indicates a neutral outlook for global Q3 2024 M&A volume, with North America showing signs of growth while other regions remain flat. Key highlights include:
- North America: Strong pre-announced deal volume in Q1 2024, expected to continue throughout 2024
- Asia Pacific: Upward trajectory at the end of Q1, with Australia, Hong Kong, and Japan performing well
- Europe, Middle East, and Africa: Anticipated rebound in H2 2024, but no significant rise in activity expected
- Latin America: Growing interest from foreign investors, with Brazil, Chile, and Colombia showing solid early-stage activity
The SS&C Intralinks Deal Flow Predictor forecasts M&A announcements by tracking early-stage activity from the previous four quarters, typically six months ahead of public announcements.
SS&C ALPS Advisors, a subsidiary of SS&C Technologies Holdings (Nasdaq: SSNC), has announced the launch of its ALPS | CoreCommodity Natural Resources ETF (Nasdaq: CCNR). This new ETF, developed in partnership with CoreCommodity Management, aims to offer investors exposure to natural resource equities, providing a potential hedge against inflation and opportunities for equity returns.
The fund adopts a 'pure play' approach, investing in upstream commodity-producing companies. CoreCommodity Management will employ an actively managed, quantitative, multi-factor process to evaluate the corporate fundamentals and market dynamics of portfolio companies. This strategic investment seeks to diversify portfolio risk and mitigate the impact of unexpected inflation.
However, the fund is new with operating history and carries inherent risks associated with natural resource investments, including market volatility, geopolitical factors, and concentrated production regions. Investors are advised to review the fund's prospectus for detailed information on objectives, risks, and charges.
SS&C Technologies Holdings (Nasdaq: SSNC), a global provider of financial services and healthcare software, will release its financial results for Q2 2024 on July 25, 2024, after market close.
An earnings conference call is scheduled at 5:00 p.m. ET on the same day to discuss the results.
The press release will be accessible via PR Newswire and SS&C's website. Interested parties can register for email alerts for immediate distribution.
The earnings call can be joined by dialing 888-210-4650 (US and Canada) or 646-960-0327 (International), using conference ID #4673675. A live webcast and replay will be available on SS&C's Investor Relations webpage.
SS&C Technologies Holdings (Nasdaq: SSNC) has launched a new global Contact Center platform aimed at asset management, life and pensions, and retirement sectors to enhance client engagement. The platform supports multi-channel communication, including voice, email, and secure messaging, with intelligent automation for personalized 24/7 customer experiences. The platform features AI chatbots and speech analytics for improved self-service and fraud detection. Over the next 18 months, SS&C plans to introduce advanced virtual assistants and better analytics for customer sentiment. SS&C's Contact Center services over 150 clients with more than 1,000 agents, handling over 3 million calls globally.
Principal Real Estate Income Fund (PGZ), listed on the NYSE, has announced monthly distributions of $0.105 per share, with an annualized distribution rate of 11.11% based on the current NAV of $11.34 as of June 26, 2024. The distribution dates are set for August 30, September 30, and October 31, 2024. Investors are advised to consider the risks, including potential loss of investment and exposure to below-investment-grade investments. Share prices may fluctuate due to the Fund's use of leverage and market conditions. Additional details and tax information will be provided in early 2025 via Form 1099-DIV. For full reports and more information, visit www.principalcef.com.
SS&C Technologies Holdings (Nasdaq: SSNC) has announced a strategic partnership with Marlborough's Investment Fund Services (IFS). This arrangement includes SS&C providing fund accounting, middle-office, and transfer agency services for over GBP 16 billion in assets. Approximately 90 IFS staff members will transition to SS&C, continuing to work from Marlborough’s Bolton office, which will be designated as a 'centre of excellence'. This partnership aims to enhance service efficiency and compliance, leveraging SS&C's advanced technology. The collaboration is expected to drive growth and improve investor outcomes.
SS&C Technologies Holdings (NASDAQ: SSNC) is expanding its fund administration business in India by opening a new office in Gujarat International Finance Tec-City (GIFT City). Licensed by the International Financial Services Centres Authority, SS&C GlobeOp will offer fund administration and compliance services to alternative investment funds and other funds in the zone. Arun Baldwa will lead the office. SS&C manages over $19 billion in assets in India and has 12 offices employing 7,500 staff. This expansion aims to capitalize on the rapid growth of the fund management industry in GIFT City, which has attracted over 80 fund managers with commitments exceeding $30 billion in the past three years.
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