Ss&C Technologies Stock Price, News & Analysis

SS&C Technologies has announced a $1 billion stock repurchase program, reinforcing its commitment to maximizing shareholder value. The repurchase may occur through various means, depending on market conditions. Management aims to leverage free cash flow for share buybacks while maintaining flexibility for acquisitions. CEO Bill Stone expressed confidence in the company’s financial strength, highlighting that the current share price does not reflect the firm’s prospects. The program underscores a strategic initiative to enhance shareholder returns.

On July 27, 2022, shareholders of RiverNorth Opportunities Fund (NYSE: RIV) approved a new investment advisory agreement with RiverNorth Capital Management, effective around October 1, 2022. This transition will not modify the Fund's name, investment objective, or strategy. As of June 30, 2022, the Fund had $242 million in net assets and 18.2 million shares outstanding. RiverNorth Capital Management will continue its role without significant changes in day-to-day investment decisions.

SS&C Technologies Holdings (NASDAQ: SSNC) reported Q2 2022 GAAP revenue of $1,328.7 million, a 5.5% increase year-over-year, while diluted earnings per share dropped 40.8% to $0.42. Adjusted revenue also rose 5.5% to $1,330.0 million, but adjusted diluted EPS fell 11.3% to $1.10. The company achieved $264 million in net cash from operations and paid down $234.7 million in debt. For Q3 2022, SS&C anticipates adjusted revenue between $1,324.0 million and $1,364.0 million. Despite challenges, the firm remains optimistic about future growth and intelligent automation adaptations.

SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) forecasts a neutral to negative outlook for Q3 2022 M&A activity. Despite a downward trend, M&A volume is projected to exceed Q3 2020 and Q3 2019 by over 20%. Regional forecasts include a moderate decline in Asia Pacific, flat performance in Europe and the Middle East, double-digit underperformance in Latin America, and a decline of less than -5% in North America. SS&C Intralinks has facilitated $35 trillion in transactions, underscoring its role in M&A, capital raising, and investor reporting.

SS&C GlobeOp has released its Forward Redemption Indicator for July 2022, registering at 1.82%, a decrease from 2.42% in June. This figure is nearly identical to the 1.81% recorded a year prior and significantly below the historic July averages. Bill Stone, SS&C's CEO, noted a positive trend in hedge fund asset retention, indicating increased investor confidence amid a volatile market. The next report will be available on August 19, 2022.

RiverNorth Opportunities Fund has declared a preferred dividend of $0.3750 per share for its 6.00% Series A Perpetual Preferred Stock (symbol: RIVPRA) for Q3 2022. Key dates include the Ex Date on August 1, 2022, Record Date on August 2, 2022, and Payable Date on August 15, 2022. This distribution is governed by the Fund's liquidation preference of $25.00 per share, though it carries inherent risks, including variability in net asset value and market conditions affecting returns.

SS&C Technologies Holdings (Nasdaq: SSNC) announced that Momentum Investments, a leading South African asset management firm, has chosen its Sylvan solution to enhance investment performance measurement and support growth. Momentum Investments, managing over R550 billion (US$34 billion), aims to integrate its performance systems into a single, robust platform. Jannie du Randt, Operations Executive at Momentum, highlighted Sylvan’s flexibility and SS&C’s expertise in their selection process. The award-winning solution offers cloud-based reporting and compliance with GIPS® standards.

Maryland Care, Inc. has selected SS&C Technologies to transition to the Singularity investment accounting platform. This decision aims to enhance operational efficiency, with a focus on timely and accurate reporting for its investment portfolios. SS&C's advanced technology and experienced team are expected to improve month-end close processes and statutory filings. With a 36-year track record in the insurance and asset management sectors, SS&C continues to expand its influence, especially within the insurance industry.