WOLTERS KLUWER S/ADR - WTKWY STOCK NEWS

Wolters Kluwer is enhancing tax season efficiency with its latest release of CCH Axcess Client Collaboration. This platform addresses the challenges of late and unprepared clients by allowing tax professionals and their clients to manage all workflows for individual and business returns in one secure portal. Key features include the ability to create tax return requests, enhance client experience with customizable templates, and provide a centralized location for document uploads year-round. Wolters Kluwer reported 2021 revenues of €4.8 billion and continues to serve clients globally.

Wolters Kluwer Tax & Accounting will host the 18th annual CCH Connections: User Conference from Nov. 8-11 in Tampa, Florida, attracting over 1,100 professionals. The event will feature influential speakers including CEO Jason Marx and Duncan Wardle from Disney. Attendees will explore new technologies and enhancements, earning up to 22 CPE credits and attending over 80 breakout sessions. Wolters Kluwer, a leader in professional information and software solutions, reported €4.8 billion in revenue in 2021, serving clients in over 180 countries.

Wolters Kluwer released insights on the impact of Biden's Student Loan Forgiveness Program, focusing on potential state income taxes for borrowers. The program, announced in August 2022 and currently on hold due to legal challenges, may see seven states imposing taxes on forgiven amounts despite federal protections against income tax. Senior Legal Analyst Anne H. Gibson provided a comprehensive analysis including eligibility and legal opposition, along with a detailed chart of state tax implications. The analysis is crucial for understanding the evolving debt cancellation landscape.

Wolters Kluwer has received Spanish Antitrust Authority clearance for the Karnov Group to acquire its legal information assets in Spain. This divestiture is part of a transaction announced on December 9, 2021 and is set to close on November 30, 2022. The assets generated €85 million in revenues, contributing 10% to the Legal & Regulatory division. Wolters Kluwer will receive €120 million and plans to utilize the proceeds for share repurchases in 2023 to offset earnings dilution from this divestment.

Wolters Kluwer released its 2022 Nine-Month Trading Update on November 2, 2022, reporting a 6% organic revenue growth for the first nine months. Total revenues increased by 15% due to favorable currency effects. Recurring revenues contributed significantly, growing 7% organically. The company maintained its 2022 full-year guidance, with anticipated adjusted free cash flow between €1,025 and €1,075 million. Noteworthy developments include significant share buyback plans and acquisitions, including the purchase of IJS Publishing Group. However, adjusted free cash flow decreased 1% year-on-year.

Wolters Kluwer ELM Solutions' LegalVIEW BillAnalyzer has significantly enhanced expense control and efficiency for PNC Financial Services Group, a leading diversified financial institution in the U.S. A recent case study reveals that the AI-driven tool enabled PNC to automate billing violations review, fostering better law firm relationships. PNC aims to leverage this technology for strategic decision-making and compliance improvement.

Wolters Kluwer, a leader in healthcare solutions, announces that CEO Cathy Wolfe and VP Ruchi Tushir will speak at the Global Digital Health Summit in New Delhi on October 28. The event focuses on the theme “Digital Health for All,” exploring the benefits of digital tools for clinician efficiency and improved patient outcomes. With India's doctor shortage, the adoption of clinical decision support tools is vital for enhancing healthcare access. The summit features esteemed guests, including Union Minister Dr. Jitendra Singh.