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. (Nasdaq: SSNC) is a global provider of services and software for the financial services and healthcare industries. Founded in 1986 and headquartered in Windsor, Connecticut, the company is frequently in the news for developments across fund administration, wealth management technology, corporate actions and capital markets activity.
This SSNC news page highlights press releases and third-party coverage related to SS&C’s business. Readers can follow announcements about earnings release schedules, quarterly and full-year results, and dividend declarations on the company’s common stock. SS&C regularly files Form 8-K reports to furnish earnings information and to disclose material events such as acquisitions and financing arrangements.
News items also cover SS&C’s role in fund administration and indices through SS&C GlobeOp, including monthly publications of the SS&C GlobeOp Forward Redemption Indicator and related hedge fund indices. These updates provide insight into redemption activity, capital movements and performance trends for hedge funds administered on the SS&C GlobeOp platform.
In addition, SS&C issues news on strategic initiatives such as the expansion of its European wealth management capabilities via MiFID authorization in Ireland, technology enhancements like integrations within SS&C Black Diamond Wealth Solutions, and client wins where fund managers select SS&C for administration and operational support. Subsidiary activity, including SS&C ALPS Advisors’ involvement with closed-end funds and exchange-traded funds, also appears in related releases.
Investors, analysts and industry participants can use this page to monitor ongoing corporate developments, product and platform updates, index publications and other events that may influence their view of SS&C’s operations and strategic direction.
SS&C Technologies Holdings announced the integration of its cloud-based Precision LM software by National Western Life Insurance Company for enhanced commercial loan servicing operations. This partnership aims to support bespoke loan terms and provide critical portfolio analytics. National Western Life's Mortgage Loan Manager expressed confidence in SS&C's expertise, anticipating improved reporting and overall lending experiences over the next five years. SS&C is a preferred partner for over 50% of the top 40 life insurance companies investing in commercial mortgages.
SS&C Technologies (Nasdaq: SSNC) announced the addition of ProNvest, a managed account solution, to its TRAC recordkeeping platform. This integration enhances SS&C Retirement Solutions, providing retirement plan service providers with advanced options for defined contribution plans. ProNvest's services will be accessible to all users of SS&C's platform, facilitating expansion with minimal development efforts. The partnership aims to support retirement providers in delivering tailored, scalable solutions for their clients.
SS&C Technologies (Nasdaq: SSNC) has been selected by LendInvest, a leading U.K. property finance platform, for fund administration services. The transition aims to leverage SS&C's extensive loan and credit expertise. SS&C GlobeOp will manage LendInvest’s existing open-ended fund, providing administration, accounting, and additional services such as e-Investor and corporate secretary functions. LendInvest's strategy focuses on flexibility to support diverse fund types, with aims to expand in the European real estate lending market.
SS&C Technologies Holdings reported its Q3 2020 financial results with revenue reaching $1,152.8 million, a 0.8% increase year-over-year. Net income surged 67.8% to $159.4 million, while diluted EPS rose 66.7% to $0.60. Adjusted metrics showed revenue at $1,156.2 million and adjusted EPS at $1.10, up 18.3%. The company repurchased 3.1 million shares for $191.9 million. SS&C experienced operational stability amid COVID-19 but withdrew financial guidance due to market uncertainties.
SS&C Technologies announced a partnership with Brooks Macdonald, a leading U.K. wealth manager, focusing on transforming their intermediary business. The collaboration will enhance adviser experience and client service through advanced technology and operational services. By 2021, Brooks Macdonald will transition its operations to SS&C's wealth technology stack, including the SS&C Investrack and Advent Genesis platforms. This strategic partnership aims to consolidate operations and support future innovation, while welcoming Brooks Macdonald's staff to SS&C.
SS&C Technologies Holdings (Nasdaq: SSNC) has integrated its Benefits Real-time Information Exchange (BRIX) platform with Vidado, enhancing benefits administration for insurers. This integration allows for quick digitization of paper data, improving adjudication and medical underwriting processes. The partnership aims to increase engagement and submission rates, facilitating faster turnaround times, automated real-time decisions, and lower costs. The AI-powered Vidado solution processes offline data with over 95% accuracy, revolutionizing the insurance industry.
SS&C Technologies announced a decrease in its GlobeOp Forward Redemption Indicator to 2.84% in October 2020, down from 3.43% in September and 3.76% year-over-year. This trend indicates reduced redemption notices and reflects growing investor confidence in hedge funds amid ongoing market volatility due to COVID-19. The indicator is calculated based on actual redemption notices from hedge fund investors and aligns with historical averages, marking four consecutive months of lower redemptions. The next update is expected on November 20, 2020.
RiverNorth Opportunities Fund (NYSE: RIV) announced the extension of its transferable subscription rights offering to 5:00 PM ET on November 6, 2020, to avoid coinciding with the U.S. election. As a result of this extension, payments for guarantees of delivery are now due on November 10, 2020, and confirmations will be provided by November 16, 2020. The Fund had approximately $140.3 million in net assets and 9.4 million shares outstanding as of September 30, 2020. Investors are advised to read the prospectus and consider investment objectives before participating.
SS&C Technologies (Nasdaq: SSNC) has been selected by Allianz Global Investors to implement its Sylvan platform for consolidated global performance measurement and attribution, specifically for AllianzGI's fixed income businesses, managing EUR193 billion in assets. AllianzGI aims to enhance its performance measurement capabilities and sought a flexible solution that could support custom attribution methodologies. Sylvan's User Defined Attribution and customizable dashboards played a crucial role in this decision, reflecting SS&C's focus on scalable performance attribution solutions.
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