SS&C Technologies Holdings Inc. Files 2023 Annual Report (10-K)

TL;DR

<b>SS&C Technologies Holdings Inc. has submitted its 2023 10-K annual report, detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

SS&C Technologies Holdings Inc (SSNC) filed a Annual Report (10-K) with the SEC on February 28, 2024. SS&C Technologies Holdings Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. Key dates mentioned include 2023-12-31 for fiscal year end and 2024-02-28 for the filing date. The company's principal business address is 80 Lamberton Rd, Windsor, CT 06095. SS&C Technologies Holdings Inc. is classified under SIC code 7372 (SERVICES-PREPACKAGED SOFTWARE).

Why It Matters

For investors and stakeholders tracking SS&C Technologies Holdings Inc, this filing contains several important signals. This 10-K filing provides a comprehensive overview of SS&C Technologies' financial health, operational performance, and strategic positioning for the fiscal year 2023, which is crucial for investors and stakeholders to assess the company's trajectory. The detailed financial data and risk factors disclosed in this report are essential for understanding the company's market standing, potential challenges, and future growth prospects within the prepackaged software industry.

Risk Assessment

Risk Level: medium — SS&C Technologies Holdings Inc shows moderate risk based on this filing. The company operates in the prepackaged software industry (SIC 7372), which is subject to rapid technological changes and competitive pressures, as indicated by the nature of its business and the filing type (10-K).

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand SS&C Technologies' performance and outlook for the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (The end date of the reporting period for the 10-K.)
• 2024-02-28 — Filing Date (The date the 10-K report was filed with the SEC.)
• 7372 — SIC Code (Standard Industrial Classification code for SS&C Technologies Holdings Inc.)
• 001-34675 — SEC File Number (The SEC file number associated with SS&C Technologies Holdings Inc.)

Key Players & Entities

• SS&C Technologies Holdings Inc. (company) — Filer and subject of the 10-K report.
• 2023-12-31 (date) — Fiscal year end date for the 10-K report.
• 2024-02-28 (date) — Filing date of the 10-K report.
• 80 Lamberton Rd, Windsor, CT 06095 (address) — Business and mailing address of SS&C Technologies Holdings Inc.
• 7372 (industry_code) — Standard Industrial Classification code for SS&C Technologies Holdings Inc.
• 0000950170-24-022080 (accession_number) — Accession number for the SEC filing.
• DST Systems Inc (company) — Mentioned in relation to litigation and acquisitions.
• Hubwise Holdings Limited (company) — Mentioned in relation to trade names and acquisitions.

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-28: Filing Date — The date the 10-K was officially submitted to the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This filing provides the official annual financial overview for SS&C Technologies Holdings Inc.)

Key Financial Figures

• $0.01 — nge on Which Registered Common Stock, $0.01 par value per share SSNC The Nasdaq
• $5,502.8 million — ntion rates. We generated revenues of $5,502.8 million for the year ended December 31, 2023 as
• $5,283.0 million — ber 31, 2023 as compared to revenues of $5,283.0 million for the year ended December 31, 2022. I

Filing Documents

• ssnc-20231231.htm (10-K) — 3979KB
• ssnc-ex10_30.htm (EX-10.30) — 62KB
• ssnc-ex10_31.htm (EX-10.31) — 83KB
• ssnc-ex10_32.htm (EX-10.32) — 89KB
• ssnc-ex19.htm (EX-19) — 112KB
• ssnc-ex21.htm (EX-21) — 136KB
• ssnc-ex23_1.htm (EX-23.1) — 3KB
• ssnc-ex31_1.htm (EX-31.1) — 13KB
• ssnc-ex31_2.htm (EX-31.2) — 13KB
• ssnc-ex32.htm (EX-32) — 14KB
• ssnc-ex97.htm (EX-97) — 68KB
• img163196022_0.jpg (GRAPHIC) — 9KB
• img163196022_1.jpg (GRAPHIC) — 67KB
• 0000950170-24-022080.txt (&nbsp;) — 18428KB
• ssnc-20231231.xsd (EX-101.SCH) — 2380KB
• ssnc-20231231_htm.xml (XML) — 3715KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 19 Item 1B. Unresolved Staff Comments 35 Item 1C. Cybersecurity 35 Item 2.

Properties

Properties 36 Item 3.

Legal Proceedings

Legal Proceedings 36 Item 4. Mine Safety Disclosures 37 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 37 Item 6. [Reserved] 39 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 39 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 53 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 53 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 91 Item 9A.

Controls and Procedures

Controls and Procedures 91 Item 9B. Other Information 92 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 92 PART III Item 10. Directors, Executive Officers and Corporate Governance 93 Item 11.

Executive Compensation

Executive Compensation 93 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 93 Item 13. Certain Relationships and Related Transactions, and Director Independence 93 Item 14. Principal Accountant Fees and Services 93 PART IV Item 15. Exhibit and Financial Statement Schedules 93 Item 16. Form 10-K Summary 96 2 FORWARD-LOOKING INFORMATION Certain statements contained in this annual report constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, performance, underlying assumptions, and other statements that are other than statements of historical facts. Without limiting the foregoing, the words "believes", "anticipates", "plans", "expects", "estimates", "projects", "forecasts", "may", "assume", "intend", "will", "continue", "opportunity", "predict", "potential", "future", "guarantee", "likely", "target", "indicate", "would", "could" and "should" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements are accompanied by such words. Such statements reflect management's best judgment based on factors currently known but that are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, but are not limited to, the state of the economy and the financial services industry and other industries in which our clients operate, our ability to realize anticipated benefits from our acquisitions, the effect of customer consolidation on demand for our products and services, the increased focus of our business on the hedge fund industry, the variability of revenue as a result of activity in the securities markets, our ability to retain

BUSINESS

ITEM 1. BUSINESS Overview SS&C Technologies Holdings, Inc. (NASDAQ: SSNC) is the world's largest hedge fund and private equity administrator, as well as the largest mutual fund transfer agent. SS&C's unique business model combines end-to-end expertise across financial services operations with software and solutions to service even the most demanding customers in the financial services and healthcare industries. SS&C owns and operates the full technology stack across securities accounting, front-to-back-office operations, performance and risk analytics, regulatory reporting and healthcare information processes. SS&C's trusted and proven technology delivers an unparalleled level of scalable capabilities for the most complex portfolios, the most sophisticated strategies, and the highest volumes of transactions. Through a series of carefully selected acquisitions and organic growth, the breadth and depth of SS&C's expertise in financial services and healthcare technology are unmatched. Founded in 1986 and headquartered in Windsor, Connecticut, the Company is home to more than 26,000 employees and has 114 offices in 90 cities globally. With more than 20,000 clients spanning the health and financial services industries, our customers' needs and requirements are always at the forefront of our strategy. We provide the global financial services industry with a broad range of software-enabled services, which consist of software-enabled outsourcing services and subscription-based on-demand cloud solutions that are managed and hosted at our facilities, and specialized software products, which are deployed at our clients' facilities. Our software-enabled services, which combine the strengths of our proprietary software with our domain expertise, enable our clients to contract with us to provide many of their mission-critical and complex business processes. For example, we utilize our software to deliver comprehensive fund administration services to alternative and tradit