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 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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SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) will announce its third quarter 2020 financial results after market close on October 28, 2020. An earnings conference call is scheduled for 5:00 p.m. ET on the same day to discuss these results. The press release will be accessible through SS&C's website and PR Newswire. Investors can sign up for email alerts at the investor section of the SS&C website.
SS&C Technologies (Nasdaq: SSNC) announced its partnership with Blue Tractor Group and GSI Capital Advisors to expand into semi-transparent ETFs. The SEC has received a short form exemptive relief application from SS&C ALPS to offer these products using Blue Tractor's Shielded Alpha structure, which allows for active management within an ETF format. This innovation aims to lower trading costs and enhance tax efficiency, improving investment outcomes for clients.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has announced the extension of its administration relationship with St. James's Place Wealth Management (SJP) for another five years, continuing until 2034. This partnership, initiated in 2014, will leverage SS&C's advanced technology to support SJP's growth in life insurance, pensions, and investment administration. The collaboration was praised for its adaptability during the pandemic, allowing remote operations while maintaining high service levels. SJP now manages over £100bn of funds on SS&C's Bluedoor platform, enhancing service efficiency.