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 25, 2020, SS&C Technologies Holdings announced a partnership with American Fidelity Assurance Company, marking the seventh client to adopt its AI-powered Singularity platform in three months. This collaboration will enhance American Fidelity's investment accounting processes. Additionally, SS&C's Precision LM will manage the entire loan lifecycle of American Fidelity's commercial mortgage investments. This partnership highlights SS&C's growing customer base in the insurance sector and its innovative solutions that integrate AI for operational efficiency.
SS&C Technologies (Nasdaq: SSNC) announced the hiring of Mike Webb as Director of Strategic Sales and Spencer Baum as Senior Director in its Global Investor & Distribution Solutions division. Webb will lead sales initiatives in the U.K. and Europe, focusing on retirement and savings technology solutions, while Baum will manage critical client relationships. These appointments aim to enhance client service and support technology modernization efforts. Both bring extensive industry experience, reinforcing SS&C's commitment to deliver expertise to its clients.
On September 23, 2020, SS&C Technologies (Nasdaq: SSNC) announced that Itaú USA Asset Management selected its GlobeOp platform for fund administration. This partnership involves comprehensive middle- and back-office services, investor services, performance analytics, compliance assistance, and risk management for Itaú's Cayman-domiciled funds. The move aims to streamline Itaú's vendor operations, allowing for improved efficiency. Charles Ferraz, CEO of IUAM, emphasized SS&C's role in optimizing their operations. Bill Stone, CEO of SS&C, expressed commitment to supporting Itaú's growth.
SS&C Technologies (Nasdaq: SSNC) launched Client View, a new application within its Black Diamond Wealth Platform, aimed at enhancing client management for advisors. This tool serves as an interconnected command center, enabling advisors to manage clients' financial data and communications seamlessly. Key features include balance sheet collaboration, reporting, and customizable options tailored to specific firm needs. The rollout will start with selected firms by year-end. Over 1,600 advisory firms currently utilize the Black Diamond platform.
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.
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