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.
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On August 11, 2020, SS&C Technologies (Nasdaq: SSNC) announced that its CEO Bill Stone will present at the Oppenheimer 23rd Annual Technology, Internet & Communications Conference on August 12, 2020, at 9:40 am ET. A webcast of the presentation will be available on the investor relations website.
SS&C, founded in 1986 and headquartered in Windsor, Connecticut, provides software and services for the financial services and healthcare sectors, serving around 18,000 organizations globally.
SS&C Technologies Holdings (Nasdaq: SSNC) announced the expansion of its SS&C Geneva® platform in China through a partnership with Bank of Communications Trustee Limited. BOCOM Trustee, a Hong Kong-based firm, aims to enhance its services for diverse clients and improve operational efficiency using SS&C's solutions, which feature user-friendly interfaces and automated processes. SS&C's commitment to the Greater China market is underscored by its dedicated team of over 300 staff in the region, ensuring superior support for its clients.
On August 3, 2020, SS&C Technologies (NASDAQ: SSNC) announced that BlueCrest Capital Management has chosen SS&C Eze for its trading operations. The firm transitioned its equities and equity futures trading to Eze EMS due to its advanced functionality and support. Over the past year, SS&C Eze has enhanced its platform with AI and machine learning, improving trade automation, liquidity access, and security features. Michael Hutner, Senior V.P., expressed excitement about collaborating with BlueCrest to navigate the current market landscape.
SS&C Technologies (Nasdaq: SSNC) announced that Brazilian investment manager, Vitra Gestão De Patrimônio Ltda, has successfully implemented the Advent Portfolio Exchange® (APX) to enhance tailored portfolio management and reporting. Vitra is utilizing Advent Outsourcing Services for cloud delivery, which allows for efficient aggregation of data across global asset classes. The APX solution improves client experiences through its advanced reporting capabilities, ensuring accuracy and timeliness in reporting processes. The implementation highlights SS&C's investment in software solutions for financial services.
SS&C Technologies reported Q2 2020 results, showing GAAP revenue of $1,138.1 million, a 0.9% decline from Q2 2019. However, GAAP operating income increased by 8.0% to $241.3 million, with net income rising 40.0% to $169.5 million. Adjusted revenue fell 1.3% to $1,140.8 million, yet adjusted operating margins improved. SS&C also renewed its stock buyback program up to $750 million. Due to COVID-19 uncertainties, the firm withdrew its guidance for 2020, providing scenario analysis instead.
The SS&C GlobeOp Forward Redemption Indicator for July 2020 is reported at 2.64%, a decrease from 4.24% in June. This figure aligns with long-term averages and is an improvement compared to 2.69% from the previous year. Bill Stone, Chairman and CEO, emphasized the resilience of hedge fund asset retention amidst the COVID-19 pandemic. The indicator reflects investor confidence and is based on actual redemption notices. The next report will be released on August 21, 2020.
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SS&C Technologies (Nasdaq: SSNC) announced that Mid Atlantic Capital Group has selected it for automating FINRA Consolidated Audit Trail (CAT) reporting. This service involves monitoring, submitting, and correcting transactional data for Mid Atlantic, ensuring compliance with upcoming SEC requirements. SS&C's CAT Reporting Portal streamlines broker data into FINRA-compliant reports, enhancing efficiency. With over 70 firms already certified, SS&C continues to establish itself as a leader in regulatory reporting technology, enabling clients to focus on their core operations.
The SS&C GlobeOp Forward Redemption Indicator for June 2020 recorded 4.24%, an increase from 4.00% in May. While this figure aligns with historical averages for June, it represents a rise from 3.81% from the previous year. Bill Stone, CEO of SS&C Technologies, noted that redemption levels are consistent with steady trends in asset retention within the hedge fund sector amid the COVID-19 pandemic. The next report will be published on July 22, 2020. The indicator reflects investor confidence in hedge funds, which has shown a decreasing trend from a high of 19.27% in November 2008.