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 Holdings, Inc. reports developments across investment, financial and healthcare software, technology-enabled services and enterprise automation. Recurring updates include quarterly earnings, cash flow and leverage commentary, product launches such as SS&C Blue Prism WorkHQ, and AI governance initiatives for regulated enterprises.
Company news also covers SS&C GlobeOp fund administration data, including hedge fund redemption and capital movement indicators, as well as client deployments involving managed IT services, fund administration, middle- and back-office operations, investor services and regulatory reporting.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) announced that the SS&C GlobeOp Forward Redemption Indicator for September 2024 measured 2.72%, up from 2.59% in August. This figure is slightly higher than the 2.71% reported for the same period last year but consistent with longer-term monthly averages and seasonal patterns.
The indicator represents the sum of forward redemption notices received from investors in hedge funds administered by SS&C GlobeOp on their platform, divided by the Assets under Administration (AuA) at the beginning of the month. Bill Stone, Chairman and CEO of SS&C Technologies, noted that mixed economic signals and a recent large rate cut could potentially catalyze increased market volatility.
The SS&C GlobeOp Hedge Fund Performance Index showed a flash estimate of 0.75% for the current month, with a year-to-date performance of 5.94% and a last 12-month performance of 9.14%.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has announced that Direxion, a leading provider of tradeable and thematic ETFs, has chosen SS&C ALPS Distributors for medallion distribution services for their ETF and mutual fund range. Direxion, managing over $40 billion in assets, will benefit from SS&C's comprehensive suite of Registered Fund Services. SS&C will act as the underwriter and distributor, handle FINRA compliance, review marketing materials, and support Direxion's distribution strategy.
This partnership allows Direxion to access SS&C's end-to-end service and distribution solutions, designed to enhance customer experience and streamline order flow with authorized participants. SS&C ALPS Distributors currently services more than 300 ETFs with over $1 trillion in assets under distribution across 47 trusts.
SS&C GlobeOp has released its Hedge Fund Performance Index and Capital Movement Index for September 2024. The Performance Index showed a gross return of 0.75% for August, while the Capital Movement Index advanced 0.39% in September, indicating positive net flows into funds.
Key highlights include:
- Year-to-date performance: 5.94%
- Last 12-month performance: 9.14%
- Capital Movement Index stands at 124.58 points
Bill Stone, CEO of SS&C Technologies, noted that hedge funds continue to attract allocations due to their flexible strategies, diversification benefits, and downside protection. The indices provide transparent insights into hedge fund liquidity, investor sentiment, and performance, representing about 10% of estimated assets in the hedge fund sector.
SS&C Technologies (Nasdaq: SSNC) agreed to acquire Battea-Class Action Services for approximately $670 million, subject to adjustments, with expected close this year. SS&C said the deal will be funded with a combination of debt and cash on hand and is expected to be accretive within 12 months.
Battea serves more than 900 institutions, monitors 700–800 cases in litigation and has 340 settlements in payout; its research library spans 8,000+ historical cases. Over 100 Battea employees will join SS&C GlobeOp, expanding securities class action claims and recovery services.
ALPS Global Travel Beneficiaries ETF (NYSE ARCA: JRNY) will close to new investors on October 16, 2024 and liquidate on October 18, 2024. The Board of Trustees, following the adviser’s recommendation, determined liquidation was in shareholders’ best interests after the Fund failed to attract significant market interest since inception. The last day of trading is scheduled for Thursday, October 17, 2024. The Fund will liquidate its portfolio, increase cash holdings and stop seeking its investment objective during the wind-down. Shareholders of record on the liquidation date will receive a cash distribution equal to net asset value; no transaction fees will be charged for the distribution. Portions of the distribution may be ordinary income or capital gain.
SS&C ALPS Advisors, a subsidiary of SS&C Technologies Holdings (Nasdaq: SSNC), has announced the closure of the ALPS Global Travel Beneficiaries ETF (NYSE ARCA: JRNY). The fund will close to new investors on October 16, 2024 and liquidate on October 18, 2024. This decision was made by the ALPS ETF Trust's Board of Trustees due to the fund's inability to attract significant market interest since its inception.
The last trading day for the fund is scheduled for October 17, 2024. Shareholders may be able to sell their shares until this date, but there's no guarantee of a market for the fund's shares. On the liquidation date, remaining shareholders will receive a cash distribution equal to the net asset value of their shares, without incurring transaction fees.
SS&C Technologies Holdings (Nasdaq: SSNC) has secured a long-term agreement with BT, a leading Australian wealth management business, for unit registry services. SS&C's Managed Fund Administration team will provide services to 88 BT-managed funds, including investor servicing and unit registry websites for digital account access and transactions.
Key points:
- BT previously managed these services in-house
- SS&C aims to improve digital access to investor information and automate processes
- SS&C GIDS is the world's largest transfer agent and unit registry
- The division services over 1,000 clients globally, processing more than 200 million transactions annually
This partnership demonstrates SS&C's expertise in helping asset managers digitalize and transform their operations, offering a scalable, technology-enabled registry solution to support BT's managed fund clients.
SS&C Technologies Holdings (Nasdaq: SSNC) is set to host its 2024 Analyst Day on September 18, 2024, at the Nasdaq MarketSite in New York. This invite-only event will provide insights into SS&C's strategic outlook, featuring presentations from key executives including Bill Stone (Chairman and CEO), Rahul Kanwar (President and COO), and Brian Schell (CFO).
The event will showcase business unit and technology updates, a financial overview, and live demonstrations of SS&C's latest technologies. It will run from 2:30 PM to 5:30 PM ET, followed by a cocktail reception. A live webcast will be available for those unable to attend in person. Interested parties should contact Justine Stone, Head of Investor Relations, for registration details.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has announced an increase in its quarterly dividend from $0.24 to $0.25 per share. The dividend will be payable on September 16, 2024, to stockholders of record as of September 3, 2024. This decision reflects the company's strong financial performance, with net cash from operating activities reaching $385 million in the second quarter, a 16.8% increase year-over-year. CEO Bill Stone emphasized the company's commitment to creating long-term shareholder value through prudent cash flow management and strategic capital allocation.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has released the 'SS&C Intralinks How Deal Terms Impact Due Diligence' report, analyzing over 900 global M&A transactions from 2013 to 2023. Key findings reveal that private target due diligence periods are nearly twice as long as public acquisitions, averaging 234 days compared to 125 days. Private deals also require almost double the documentation and collaboration.
The study highlights that medium-length due diligence periods of around 139 days tend to produce the best outcomes, with higher completion rates and better total shareholder returns of up to 4%. The research also notes an increase in the average pre-announcement due diligence period from 124 days in 2014 to 203 days in the last decade.