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 its Q1 2021 financial results, reporting a revenue of $1,233.4 million, a 5.1% increase year-over-year. Operating income rose by 23.0% to $269.1 million. Diluted earnings per share surged 75.7% to $0.65. Adjusted revenue also increased, reaching $1,235.4 million. The company generated $185.7 million in operating cash flow, up 25.7% from Q1 2020. Notably, SS&C completed the acquisition of Capita Life and Pension Services and raised its quarterly dividend by 14.3%. Guidance for Q2 2021 projects adjusted revenue between $1,190.0 and $1,230.0 million.
SS&C Technologies Holdings announced updates across its entire SS&C Advent solutions line on April 26, 2021. These enhancements aim to improve reporting and operational efficiencies for clients. Key features include improved workflows in Advent Portfolio Exchange, introduction of a REST API in Geneva, enhanced exception management processes in Lumis, and tax-efficient portfolio management in Advent Genesis. The updates emphasize flexibility, scalability, and streamlined processes to meet evolving client needs.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) reported that its Forward Redemption Indicator for April 2021 is 2.07%, a decrease from 2.49% in March. This marks a significant improvement, being the second lowest April figure since 2006 and down from 3.02% a year ago. The trend shows ten consecutive months of lower year-over-year redemptions, indicating strong asset retention in the hedge fund industry. The Indicator reflects confidence among hedge fund investors as SS&C's total assets under administration represent approximately 10% of the hedge fund sector.
SS&C Technologies announced its acquisition of Mainstream Group Holdings for A$2.00 per share, resulting in an enterprise value of approximately A$296 million (US$225 million). This acquisition follows the expiration of Vistra Group's matching rights, allowing SS&C's Scheme Implementation Deed to take effect. Mainstream provides investment administration services globally, supporting over 1,200 funds and 157,000 investors with A$224 billion in assets under administration. The acquisition is set to enhance SS&C's offerings and is expected to close in Q3 2021, pending regulatory approvals.
SS&C Technologies Holdings (Nasdaq: SSNC) has been appointed as the fund administrator for Maverix Private Equity's inaugural growth equity fund. Maverix will leverage SS&C GlobeOp's comprehensive private capital fund services, including accounting and reporting. The fund aims for a hard cap of USD$500M and targets investments in North American companies with high growth potential. SS&C's expertise in the finance sector positions it well to support Maverix's ambition to build a leading private equity platform in Canada.
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SS&C Technologies (Nasdaq: SSNC) announced a conditional Scheme Implementation Deed to acquire Mainstream Group Holdings (ASX: MAI) for A$2.00 per share, valuing the transaction at approximately A$296 million (US$225 million). Mainstream offers investment administration and fund accounting services across various locations, including Australia and the US. The deal is subject to approvals and may close in Q3 2021. SS&C aims to enhance its service offerings and revenue growth potential through this acquisition.
SS&C Technologies Holdings (Nasdaq: SSNC) will announce its Q1 2021 financial results on April 26, 2021, after market close. An earnings conference call is scheduled for 5:00 p.m. ET on the same day. Investors can access the press release on SS&C's website following its distribution. The earnings call will be available for replay shortly after and can also be accessed on the company's website. SS&C, headquartered in Windsor, Connecticut, provides software and services for financial services and healthcare, serving approximately 18,000 organizations globally.
SS&C Technologies Holdings (Nasdaq: SSNC) reported a Forward Redemption Indicator of 2.49% for March 2021, an increase from 2.37% in February and lower than 3.11% for March 2020. This marks the ninth consecutive month of improved year-over-year comparisons, demonstrating strong hedge fund asset retention. The indicator reflects the percentage of redemptions received from investors in hedge funds, indicating stable investor confidence. SS&C GlobeOp's assets under administration represent approximately 10% of the hedge fund sector.
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