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 over 25 clients have adopted its cloud-native investment operations platform, SS&C Aloha, over the past year. Clients from 15 countries, including Trustees Executors Limited from Australia, are leveraging the platform to enhance their investment operations with a single data model and real-time updates. SS&C Aloha aims to streamline operations and reduce overhead for wealth and asset managers, providing an intuitive user experience with integrated intelligent technologies.
SS&C Technologies reported Q3 2022 revenue of $1,321.0 million, a 4.5% increase from the previous year. However, fully diluted GAAP EPS fell 11.6% to $0.61. Adjusted revenue grew 4.4% to $1,322.0 million, with adjusted diluted EPS dropping 12.9% to $1.15. The company generated $317.1 million in operating cash flow. SS&C faced challenges from market conditions and rising interest rates, but managed to increase adjusted EBITDA margins by 260 basis points compared to Q2 2022. Strong client engagement was noted amid these pressures.
SS&C Technologies (Nasdaq: SSNC) announced its support for A10 Capital's $2.4 billion loan servicing portfolio, primarily focused on real estate loans. A10 Capital, a commercial real estate lender, has adopted SS&C's Precision LM for enhanced loan servicing and borrower experience. The implementation process aims to streamline operations while maintaining day-to-day business flows. SS&C's Precision LM provides a comprehensive loan management platform that integrates origination, servicing, and asset management functionalities.
SS&C Technologies Holdings (Nasdaq: SSNC) has been appointed by Carrara Capital as the fund administrator for its newly launched Carrara Global Opportunities Fund. This multi-strategy fund aims to achieve consistent risk-adjusted returns through investments in currencies, fixed income, global equities, credit, and private opportunities. SS&C will provide a comprehensive suite of hedge fund services, including fund administration and investor services tailored to Australia. The collaboration underscores SS&C's commitment to supporting Australia's alternative asset managers.
On October 25, 2022, SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) announced a partnership with Janney Montgomery Scott LLC, enhancing the latter's investment performance and reporting capabilities. Janney will utilize SS&C's technology, including SS&C Sylvan and Vision FI, for client reporting and analytics. This collaboration aims to streamline data validation and performance calculations, providing faster and more efficient service to Janney's clients. Senior executives from both companies highlighted the benefits of this scalable and cost-effective solution.
SS&C GlobeOp Forward Redemption Indicator for October 2022 shows a rate of 2.35%, down from 2.67% in September. This figure remains above the record low of 1.56% from a year ago and is better than the long-term average for October redemptions. The indicator reflects investor confidence, measured as the percentage of forward redemption notices from hedge fund investors relative to assets under administration. Notably, recent trends indicate a shift away from the historically low redemption levels seen during the COVID-19 pandemic. The next update will be on November 21, 2022.
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SS&C Technologies (Nasdaq: SSNC) successfully hosted its annual client conference, SS&C Deliver 2022, reuniting over 1,300 financial services and healthcare professionals. The conference featured 250 speakers across 120 sessions, emphasizing innovation in technology for these sectors. Key discussions included adapting to hybrid environments, direct-to-consumer strategies, and addressing regulatory challenges. The event concluded with a keynote from investor Kevin O'Leary, and plans for the 2023 conference are already underway for October 22-24 in Austin, Texas.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) will announce its third quarter financial results on October 27, 2022, after market close. The earnings conference call is set for 5:00 p.m. Eastern Time the same day. Investors can access the earnings report via PR Newswire or SS&C's website. An audio replay will be available following the call and can be accessed until November 3, 2022. Established in 1986 and headquartered in Windsor, Connecticut, SS&C serves over 20,000 financial and healthcare organizations globally.