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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 announced that Bardin Hill Investment Partners has chosen Eze OMS to enhance its fixed income strategies, replacing its previous provider. With over $8.5 billion in assets under management, Bardin Hill aims to consolidate operations on a single platform, leveraging Eze OMS's extensive capabilities across various investment types. This partnership enhances trading workflows and overall efficiency, especially during the pandemic, reflecting SS&C's business continuity. Bardin Hill's operations will also benefit from streamlined data integration with SS&C Geneva.
On September 2, 2020, SS&C Technologies Holdings (Nasdaq: SSNC) announced that Implemented Portfolios has selected its Global Wealth Platform (GWP) for investment administration and reporting for individually managed accounts (IMAs). Implemented Portfolios extended its GWP license, emphasizing SS&C's expertise in the Australian market. Both companies aim to enhance technology for IMAs, signaling a commitment to innovation. GWP is tailored to address IMA complexities without extensive customization, enhancing Implemented Portfolios' service capabilities.
SS&C Technologies Holdings has appointed Frank Egan as Managing Director of Mergers & Acquisitions. With over 35 years in investment banking and venture capital, Frank brings extensive experience, having previously been Managing Partner at Lake Bridge Capital Ventures and served at notable firms like Northwater Capital. CEO Bill Stone expressed enthusiasm for Frank's appointment, citing his deep understanding of the technology space. SS&C, a provider of services and software in financial services and healthcare sectors, operates globally, serving around 18,000 organizations.
SS&C Technologies has launched its Global Investor and Distribution Solutions (GIDS), aimed at enhancing global transfer agency and investor servicing. GIDS is built on a unified global servicing platform that offers clients data-driven insights, intelligent automation, and advanced digital tools. Nick Wright has been appointed as Head of GIDS, tasked with overseeing strategy and client delivery. This initiative positions SS&C as the largest global transfer agency provider, servicing over 55 million investors across multiple countries, including the U.S. and Europe.
The SS&C GlobeOp Forward Redemption Indicator for August 2020 is reported at 3.08%, up from 2.64% in July. This figure shows a decrease in redemption notices compared to 3.41% in August 2019, indicating strong investor confidence in the hedge fund sector post-COVID. The forward redemptions as a percentage of assets under administration have significantly declined from a high of 19.27% in November 2008. The next indicator release is scheduled for September 22, 2020.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) announced a quarterly dividend increase from $0.125 to $0.14 per share, payable on September 15, 2020, to shareholders of record by September 1, 2020. The company expects to generate over $1 billion in operating cash flow for 2020, reflecting a 30% compound annual growth rate over the past decade. CEO Bill Stone emphasized effective capital allocation, focusing on shareholder returns through increased dividends, stock buybacks, and debt repayment.
On August 11, 2020, SS&C Technologies (Nasdaq: SSNC) announced that its CEO Bill Stone will present at the Oppenheimer 23rd Annual Technology, Internet & Communications Conference on August 12, 2020, at 9:40 am ET. A webcast of the presentation will be available on the investor relations website.
SS&C, founded in 1986 and headquartered in Windsor, Connecticut, provides software and services for the financial services and healthcare sectors, serving around 18,000 organizations globally.
SS&C Technologies Holdings (Nasdaq: SSNC) announced the expansion of its SS&C Geneva® platform in China through a partnership with Bank of Communications Trustee Limited. BOCOM Trustee, a Hong Kong-based firm, aims to enhance its services for diverse clients and improve operational efficiency using SS&C's solutions, which feature user-friendly interfaces and automated processes. SS&C's commitment to the Greater China market is underscored by its dedicated team of over 300 staff in the region, ensuring superior support for its clients.
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