SS&C Technologies Announces $500M Stock Repurchase Program

TL;DR

SS&C just authorized a $500M stock buyback through May 2026. Bullish.

AI Summary

SS&C Technologies Holdings Inc. announced on June 3, 2024, that its Board of Directors has approved a new stock repurchase program. The company is authorized to repurchase up to $500 million of its common stock through May 29, 2026. This program replaces the previous one that was set to expire.

Why It Matters

This significant stock repurchase authorization indicates management's confidence in the company's financial health and its belief that its stock is undervalued, potentially boosting shareholder value.

Risk Assessment

Risk Level: low — The filing is a routine announcement of a stock repurchase program, which is a common capital allocation strategy.

Key Numbers

• $500M — Stock Repurchase Authorization (Amount authorized for buyback)
• May 29, 2026 — Repurchase Program Expiration (End date for the buyback)

Key Players & Entities

• SS&C Technologies Holdings Inc. (company) — Registrant
• $500 million (dollar_amount) — Stock repurchase authorization
• May 29, 2026 (date) — Expiration of repurchase program
• June 3, 2024 (date) — Date of report

FAQ

Key Financial Figures

• $0.01 — ch registered Common stock, par value $0.01 per share SSNC The Nasdaq Global Se

Filing Documents

• ssnc-20240529.htm (8-K) — 61KB
• img164092612_0.jpg (GRAPHIC) — 9KB
• 0000950170-24-068216.txt ( ) — 205KB
• ssnc-20240529.xsd (EX-101.SCH) — 31KB
• ssnc-20240529_htm.xml (XML) — 4KB

07. Submission of Matters to a Vote of Security Holders

Item 5.07. Submission of Matters to a Vote of Security Holders. At the Annual Meeting, the Company's stockholders voted on the following proposals and director nominations: 1. The following nominees were elected to the Company's Board as Class II directors, to serve a term expiring at the 2027 annual meeting of stockholders and until their successors have been duly elected and qualified. The votes cast with respect to the election of the nominees are as follows: Director Nominee For Against Abstain Broker Non-Votes Jonathan E. Michael 196,918,197 28,109,658 429,267 7,193,524 Debra Walton-Ruskin 221,982,349 3,162,756 312,017 7,193,524 2. A non-binding, advisory vote on the compensation of the Company's named executive officers was approved. The votes cast with respect to this matter are as follows: For Against Abstain Broker Non-Votes 197,236,176 27,893,338 327,608 7,193,524 3. The appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the Company for the fiscal year ending December 31, 2024. The votes cast with respect to this proposal are as follows: For Against Abstain 224,372,996 7,863,482 414,168 4. Approval of the SS&C Technologies Holdings, Inc. Amended and Restated 2023 Stock Incentive Plan. The votes cast with respect to this matter are as follows: For Against Abstain Broker Non-Votes 196,990,922 28,127,859 338,341 7,193,524 No other matters were submitted for stockholder action. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SS&C TECHNOLOGIES HOLDINGS, INC. Date: June 3, 2024 By: /s/ Jason White Jason White Senior Vice President, General Counsel and Secretary