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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.
On May 15, 2024, Alerian MLP ETF (AMLP) announced an adjustment to its estimated deferred tax liability, recording an additional $32.1 million ($0.18 per share) in tax accrual, effective May 16, 2024. This increase is due to tax reporting from underlying investments, indicating that more future gains will be treated as ordinary income rather than capital gains. The Fund relies on delayed information from MLPs to estimate deferred tax liability, which can lead to significant variations in NAV calculations. The Fund's tax status as a C further impacts its NAV, as it accrues deferred tax liabilities daily. Investors are advised to consider the Fund's tax implications and risk factors carefully before investing.
The Alerian MLP ETF (NYSE Arca: AMLP) declared its second quarter 2024 distribution of $0.94 on May 8, 2024, payable on May 14, 2024, to shareholders of record on May 10, 2024. The fund focuses on energy infrastructure investments, subject to sector-specific risks and regulatory changes. Shareholders receive a single Form 1099 for tax purposes, with potential tax implications due to MLP classification changes. The fund follows a passive management investment approach, aiming to mirror its underlying index performance.
The Alerian Energy Infrastructure ETF (NYSE Arca: ENFR) declared its second-quarter 2024 distribution of $0.34117, payable on May 14, 2024, to shareholders of record on May 10, 2024. The ex-date is May 9, 2024. The fund invests primarily in the energy infrastructure sector and Canadian securities, subjecting it to risks related to regulatory changes, extreme weather, and currency exchange rates. It follows a passive investment approach and is managed by ALPS Advisors, Inc. Investors should consider the investment objectives, risks, charges, and expenses before investing.
SS&C Technologies Holdings, Inc. announced the pricing of $750 million of senior notes with an interest rate of 6.5% due 2032. The offering is expected to close on May 9, 2024. The company will use the net proceeds to repay existing loans and related fees.
SS&C Technologies Holdings, Inc. announced a private placement offering of $750 million in senior notes due 2032. The Notes will be issued by the Company's subsidiary and guaranteed by the Company and its restricted subsidiaries. The proceeds will be used to repay existing loans and related fees.
SS&C Technologies Holdings, Inc. (NASDAQ: SSNC) announced a $2,775 million refinancing of term loans through its subsidiary. The company plans to borrow funds to repay existing loans under the Credit Agreement. The transactions are expected to close in the second quarter of 2024.
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