SS&C Technologies (SSNC) 10-Q 6 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Aug. 04, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Entity Registrant Name	'SS&C Technologies Holdings Inc	'
Entity Central Index Key	'0001402436	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	83,503,812

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash	$73,520	$84,470
Accounts receivable, net of allowance for doubtful accounts of $2,512 and $2,500, respectively	89,428	91,221
Prepaid expenses and other current assets	17,454	16,567
Prepaid income taxes	12,780	19,932
Deferred income taxes	5,367	6,526
Restricted cash	1,477	2,460
Total current assets	200,026	221,176
Property, plant and equipment:	'	'
Land	2,655	2,655
Building and improvements	27,337	30,053
Equipment, furniture, and fixtures	73,257	65,977
Total property and equipment	103,249	98,685
Less: accumulated depreciation	-50,037	-46,988
Net property, plant and equipment	53,212	51,697
Deferred income taxes	1,037	1,077
Goodwill	1,547,504	1,541,386
Intangible and other assets, net of accumulated amortization of $382,466 and $338,888, respectively	420,652	459,988
Total assets	2,222,431	2,275,324
Current liabilities:	'	'
Current portion of long-term debt (Note 5)	23,814	23,212
Accounts payable	8,503	8,368
Income taxes payable	'	2,169
Accrued employee compensation and benefits	25,418	44,664
Other accrued expenses	27,369	26,028
Deferred maintenance and other revenue	57,265	62,561
Total current liabilities	142,369	167,002
Long-term debt, net of current portion (Note 5)	644,384	751,295
Other long-term liabilities	17,469	14,913
Deferred income taxes	104,267	110,406
Total liabilities	908,489	1,043,616
Commitments and contingencies (Note 7)	'	'
Common stock:	'	'
Common stock	815	804
Additional paid-in capital	940,120	913,816
Accumulated other comprehensive income	39,990	30,374
Retained earnings	347,139	293,449
Total common stock	1,328,091	1,238,470
Less: cost of common stock in treasury, 698 and 511 shares, respectively	-14,149	-6,762
Total stockholders' equity	1,313,942	1,231,708
Total liabilities and stockholders' equity	2,222,431	2,275,324
Class A Non-Voting Common Stock [Member]	'	'
Common stock:	'	'
Common stock	$27	$27

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Allowance for doubtful accounts receivable	$2,512	$2,500
Accumulated amortization of finite-lived intangible assets	$382,466	$338,888
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	81,452,000	80,478,000
Common stock, shares outstanding	80,754,000	79,967,000
Common stock, shares unvested	25,000	25,000
Treasury stock, shares	698,000	511,000
Class A Non-Voting Common Stock [Member]	'	'
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	5,000,000	5,000,000
Common stock, shares issued	2,704,000	2,704,000
Common stock, shares outstanding	2,704,000	2,704,000

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenues:	'	'	'	'
Software-enabled services	$145,547	$138,047	$290,930	$273,786
Software licenses	9,866	6,626	17,365	12,696
Maintenance	25,691	25,410	51,217	51,425
Professional services	7,618	7,374	15,020	12,768
Total revenues	188,722	177,457	374,532	350,675
Cost of revenues:	'	'	'	'
Software-enabled services	86,040	80,245	171,731	160,972
Software licenses	806	1,348	1,657	2,622
Maintenance	10,077	10,283	20,008	20,803
Professional services	5,310	4,885	10,336	9,805
Total cost of revenues	102,233	96,761	203,732	194,202
Gross profit	86,489	80,696	170,800	156,473
Operating expenses:	'	'	'	'
Selling and marketing	12,203	10,563	24,101	20,027
Research and development	13,939	13,639	27,526	27,441
General and administrative	14,958	11,202	26,759	21,717
Total operating expenses	41,100	35,404	78,386	69,185
Operating income	45,389	45,292	92,414	87,288
Interest expense, net	-6,569	-11,784	-13,667	-24,289
Other (expense) income, net	-59	2,370	-745	2,516
Income before income taxes	38,761	35,878	78,002	65,515
Provision for income taxes	11,516	9,759	24,309	17,967
Net income	27,245	26,119	53,693	47,548
Basic earnings per share	$0.33	$0.32	$0.65	$0.59
Basic weighted average number of common shares outstanding	83,118	81,186	82,921	80,268
Diluted earnings per share	$0.31	$0.31	$0.62	$0.56
Diluted weighted average number of common and common equivalent shares outstanding	87,091	85,280	86,999	84,550
Net income	27,245	26,119	53,693	47,548
Other comprehensive income:	'	'	'	'
Foreign currency exchange translation adjustment	15,922	-13,830	9,616	-41,210
Total comprehensive income	15,922	-13,830	9,616	-41,210
Comprehensive income	$43,167	$12,289	$63,309	$6,338

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash flow from operating activities:	'	'
Net income	$53,693	$47,548
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	49,832	49,742
Amortization and write-offs of loan origination costs	2,956	2,988
Income tax benefit related to exercise of stock options	-8,235	-4,941
Deferred income taxes	-5,550	-4,474
Stock-based compensation expense	5,770	4,035
Provision for doubtful accounts	473	314
Loss on sale or disposition of property and equipment	698	322
Changes in operating assets and liabilities, excluding effects from acquisitions:	'	'
Accounts receivable	1,532	-6,418
Prepaid expenses and other assets	-1,403	-4,712
Income taxes prepaid and payable	13,250	5,600
Accounts payable	789	-2,248
Accrued expenses	-15,507	-14,245
Deferred maintenance and other revenue	-5,478	-3,506
Net cash provided by operating activities	92,820	70,005
Cash flow from investing activities:	'	'
Additions to property and equipment	-9,460	-7,724
Proceeds from sale of property and equipment	1	55
Additions to capitalized software	-1,704	-428
Net changes in restricted cash	983	'
Net cash used in investing activities	-10,180	-8,097
Cash flow from financing activities:	'	'
Repayments of debt	-107,000	-102,000
Income tax benefit related to exercise of stock options	8,235	4,941
Proceeds from exercise of stock options	12,337	14,086
Purchase of common stock for treasury	-7,386	'
Payment of fees related to refinancing activities	-512	-1,917
Net cash used in financing activities	-94,326	-84,890
Effect of exchange rate changes on cash	736	-2,592
Net decrease in cash	-10,950	-25,574
Cash, beginning of period	84,470	86,160
Cash, end of period	73,520	60,586
Supplemental disclosure of non-cash activities:	'	'
Excess tax benefit related to stock option exercises	'	$12,956

Basis_of_Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Basis of Presentation	'
	1. Basis of Presentation
	The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). These accounting principles were applied on a basis consistent with those of the audited consolidated financial statements contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, filed with the Securities and Exchange Commission (the “SEC”) on February 27, 2014 (the “2013 Form 10-K”). In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of only normal recurring adjustments, except as noted elsewhere in the notes to the condensed consolidated financial statements) necessary for a fair statement of its financial position as of June 30, 2014, the results of its operations for the three and six months ended June 30, 2014 and 2013 and its cash flows for the six months ended June 30, 2014 and 2013. These statements do not include all of the information and footnotes required by GAAP for annual financial statements. The financial statements contained herein should be read in conjunction with the audited consolidated financial statements and footnotes as of and for the year ended December 31, 2013, which were included in the 2013 Form 10-K. The December 31, 2013 consolidated balance sheet data were derived from audited financial statements but do not include all disclosures required by GAAP for annual financial statements. The results of operations for the three and six months ended June 30, 2014 are not necessarily indicative of the expected results for any subsequent quarters or the full year.
	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). The objective of ASU 2014-09 is to clarify the principles for recognizing revenue by removing inconsistencies and weaknesses in revenue requirements; providing a more robust framework for addressing revenue issues; improving comparability of revenue recognition practices across entities, industries, jurisdictions and capital markets; and providing more useful information to users of financial statements through improved revenue disclosure requirements. The provisions of ASU 2014-09 are effective for interim and annual periods beginning after December 15, 2016. The Company is currently evaluating the impact of this standard on its financial position, results of operations or cash flows.
	In July 2013, the FASB issued ASU No. 2013-11, Income Taxes (Topic 740) – Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU 2013-11”). The objective of ASU 2013-11 is to end some inconsistent practices with regard to the presentation on the balance sheet of unrecognized tax benefits. ASU 2013-11 is effective for financial statement periods beginning after December 15, 2013, with early adoption permitted. The adoption of this standard in the first quarter of 2014 did not have a material impact on the Company’s financial position, results of operations or cash flows.

Stockbased_Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Stock-based Compensation	'
	2. Stock-based Compensation
	For stock options with time-based vesting and restricted stock, the total amount of stock-based compensation expense recognized in the Company’s Condensed Consolidated Statements of Comprehensive Income was as follows (in thousands):
		Three Months Ended					Six Months Ended
		June 30,					June 30,
	Statements of Comprehensive Income Classification	2014			2013		2014		2013
	Cost of software-enabled services	$	924		$	719	$	2,008	$	1,470
	Cost of maintenance		66			67		157		138
	Cost of professional services		99			84		216		171
	Total cost of revenues		1,089			870		2,381		1,779
	Selling and marketing		498			302		1,135		606
	Research and development		273			236		583		466
	General and administrative		935			521		1,671		1,184
	Total operating expenses		1,706			1,059		3,389		2,256
	Total stock-based compensation expense	$	2,795		$	1,929	$	5,770	$	4,035
	A summary of stock option activity as of and for the six months ended June 30, 2014 is as follows:
		Shares of Common
		Stock Underlying
		Options
	Outstanding at January 1, 2014		11,515,642
	Granted		72,750
	Cancelled/forfeited		(138,782	)
	Exercised		(973,781	)
	Outstanding at June 30, 2014		10,475,829
	During the six months ended June 30, 2014, the Company recorded $8.2 million of income tax benefits related to the exercise of stock options. These amounts were recorded entirely to additional paid-in capital on the Company’s Condensed Consolidated Balance Sheets. During the six months ended June 30, 2013, the Company recorded $19.2 million of income tax benefits related to the exercise of stock options. Of this amount, $3.6 million was recorded to goodwill and $15.6 million was recorded to additional paid-in capital on the Company’s Condensed Consolidated Balance Sheets. The Company realized $6.2 million of cash savings through June 30, 2013 related to these benefits, of which a proportional amount relating to the additional paid in capital was recognized as cash inflows from financing activities while the remainder was recognized as cash inflows from operations on its Condensed Consolidated Statements of Cash Flows.

Stock_Repurchase_Program

Stock Repurchase Program	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
Stock Repurchase Program	'
	3. Stock Repurchase Program
	In October 2013, the Company’s Board of Directors authorized the repurchase of up to $100 million of the Company’s common stock on the open market or in privately negotiated transactions. During the six months ended June 30, 2014, the Company repurchased 186,026 shares of common stock for approximately $7.4 million. As of June 30, 2014, the Company had repurchased a total of 209,926 shares of common stock for approximately $8.3 million. The Company uses the cost method to account for treasury stock purchases. Under the cost method, the price paid for the stock is charged to the treasury stock account.

Basic_and_Diluted_Earnings_per

Basic and Diluted Earnings per Share	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Basic and Diluted Earnings per Share	'
	4. Basic and Diluted Earnings per Share
	Earnings per share (“EPS”) is calculated in accordance with the relevant accounting standards. Basic EPS includes no dilution and is computed by dividing income available to the Company’s common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income by the weighted average number of common and common equivalent shares outstanding during the period. Common equivalent shares consist of stock options and restricted stock using the treasury stock method. Common equivalent shares are excluded from the computation of diluted earnings per share if the effect of including such common equivalent shares is anti-dilutive because their exercise prices together with other assumed proceeds exceed the average fair value of common stock for the period. The Company has two classes of common stock, each with identical participation rights to earnings and liquidation preferences, and therefore the calculation of EPS as described above is identical to the calculation under the two-class method.
	The following table sets forth the weighted average common shares used in the computation of basic and diluted earnings per share (in thousands):
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Weighted average common shares outstanding		83,118		81,186		82,921		80,268
	Weighted average common stock equivalents – options and restricted shares		3,973		4,094		4,078		4,282
	Weighted average common and common equivalent shares outstanding		87,091		85,280		86,999		84,550
	Options to purchase 1,881,474 and 6,813 shares were outstanding for the three months ended June 30, 2014 and 2013, respectively, and options to purchase 1,883,870 and 57,584 shares were outstanding for the six months ended June 30, 2014 and 2013, respectively, but were not included in the computation of diluted earnings per share because the effect of including the options would be anti-dilutive.

Debt

Debt	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Debt	'
	5. Debt
	At June 30, 2014 and December 31, 2013, debt consisted of the following (in thousands):
		June 30,			December 31,
		2014			2013
	Credit facility, weighted-average interest rate of 2.95% and 3.09%, respectively	$	675,000		$	782,000
	Unamortized original issue discount		(6,802	)		(7,493	)
			668,198			774,507
	Short-term borrowings and current portion of long-term debt		(23,814	)		(23,212	)
	Long-term debt	$	644,384		$	751,295
	Capitalized financing costs of $1.1 million and $1.3 million were amortized to interest expense in the three months ended June 30, 2014 and 2013, respectively. Capitalized financing costs of $2.3 million were amortized to interest expense in each of the six months ended June 30, 2014 and 2013. Additionally, the Company amortized to interest expense $0.3 million of the original issue discount in each of the three months ended June 30, 2014 and 2013 and $0.7 million of the original issue discount in each of the six months ended June 30, 2014 and 2013. The unamortized balance of capitalized financing costs is included in intangible and other assets in the Company’s Condensed Consolidated Balance Sheet.
	The estimated fair value of the Company’s credit facility, which is a Level 2 liability, was $674.5 million and $783.6 million at June 30, 2014 and December 31, 2013, respectively. These fair values were computed based on comparable quoted market prices.
	In February 2014, the Company completed a repricing of its $213.2 million term A-2 loans, which replaced these loans with new term A-2 loans at the same outstanding principal balance of $213.2 million but at a different interest rate. The applicable interest rates were reduced to either LIBOR plus 2.0% or the base rate plus 1.0%. The maturity date of the new loans remains December 8, 2017, and no changes were made to the financial covenants or scheduled amortization.
	The repricing of the debt was evaluated in accordance with FASB Accounting Standards Codification 470-50, Debt – Modifications and Extinguishments, for modification and extinguishment accounting. The Company accounted for the repricing as a debt modification with respect to amounts that remained in the syndicate and a debt extinguishment with respect to the amounts that exited the syndicate.

Fair_Value_Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	6. Fair Value Measurements
	Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date.
	The authoritative guidance relating to fair value measurements and disclosure establishes a valuation hierarchy for disclosure of the inputs to the valuations used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows.
		•		Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.
		•		Level 2 inputs are quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, including interest rates, yield curves and credit risks, or inputs that are derived principally from or corroborated by observable market data through correlation.
		•		Level 3 inputs are unobservable inputs based on the Company’s own assumptions used to measure assets and liabilities at fair value.
	A financial asset’s or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.
	Recurring Fair Value Measurements
	The table below segregates all financial assets and liabilities that are measured at fair value on a recurring basis (at least annually) into the most appropriate level within the fair value hierarchy based on the inputs used to determine their fair value at the measurement date (in thousands):
			Total Carrying		Level 1		Level 2		Level 3
			Value at
			30-Jun-14
	Assets		$	—	$	—	$	—	$	—
	Liabilities:
	Contingent consideration		$	900	$	—	$	—	$	900
	Total liabilities		$	900	$	—	$	—	$	900
			Total Carrying		Level 1		Level 2		Level 3
			Value at
			December 31, 2013
	Assets		$	—	$	—	$	—	$	—
	Liabilities:
	Contingent consideration		$	500	$	—	$	—	$	500
	Total liabilities		$	500	$	—	$	—	$	500
	The Company determines the fair value of the contingent consideration liabilities associated with its acquisitions based on the potential payments of the liability associated with the unobservable input of the estimated post-acquisition financial results (the achievement of certain revenue and EBITDA targets) of the related acquisition through a certain date. As such, contingent consideration liabilities are a Level 3 liability. As of December 31, 2013, the Company’s contingent consideration liability was measured at fair value using estimated future cash flows based on the potential payments of the liability based on the unobservable input of the estimated post-acquisition financial results of Prime Management Limited (“Prime”) through September 30, 2014. The Company increased this contingent consideration liability to its current fair value of $0.9 million and recorded the adjustment of $0.4 million to other expense in the second quarter of 2014.
	The fair values of cash, accounts receivable, net, short-term borrowings, and accounts payable approximate the carrying amounts due to the short-term maturities of these instruments.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2014
Commitments And Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	7. Commitments and Contingencies
	Millennium Actions
	Several actions (the “Millennium Actions”) have been filed in various jurisdictions against GlobeOp alleging claims and damages with respect to a valuation agent services agreement performed by the Company’s subsidiary, GlobeOp Financial Services S.A. (“GlobeOp”), for the Millennium Global Emerging Credit Fund, L.P. and Millennium Global Emerging Credit Fund Ltd. (the “Millennium Funds”). These actions include (i) a putative class action in the U.S. District Court for the Southern District of New York (the “U.S. Class Action”) on behalf of a putative class of investors in the Millennium Funds filed in May 2012 asserting claims of $844 million (the alleged aggregate value of assets under management by the Millennium Funds at the funds’ peak valuation); (ii) an arbitration proceeding in the United Kingdom (the “UK Arbitration”) on behalf of Millennium Global Investments Ltd. and Millennium Asset Management Ltd., the Millennium Funds’ investment manager and administrative manager, respectively (together, the “Millennium Managers”), which commenced with a request for arbitration in July 2011, seeking an indemnity of $26.5 million for sums paid by way of settlement to the Millennium Funds in a separate arbitration to which GlobeOp was not a party, as well as an indemnity for any losses that may be incurred by the Millennium Managers in the U.S. Class Action; and (iii) a claim in the same arbitration proceeding by the liquidators on behalf of the Millennium Global Emerging Credit Master Fund Ltd. (the “Master Fund”) against GlobeOp for damages alleged to be in excess of $160 million. These actions allege that GlobeOp breached its contractual obligations and/or negligently breached a duty of care in the performance of services for the Millennium Fund and that, inter alia, GlobeOp should have discovered and reported a fraudulent scheme perpetrated by the portfolio manager employed by the investment manager. The U.S. Class Action also asserts claims against SS&C identical to the claims against GlobeOp in that action. In the arbitration, GlobeOp has asserted counterclaims against both the Millennium Managers and the Master Fund for indemnity, including in respect of the U.S. Class Action.
	A hearing on the merits of the claims asserted in the UK Arbitration was conducted in London in July and August 2013 and is scheduled to be reconvened in September 2014.
	GlobeOp has secured insurance coverage that provides reimbursement of various litigation costs up to pre-determined limits. Since 2012, GlobeOp has been reimbursed for litigation costs under the applicable insurance policy.
	In January 2014, GlobeOp, SS&C, the Millennium Managers and the plaintiff in the U.S. Class Action entered into a settlement agreement resolving all disputes and claims between and among the parties (including a separate mutual release between and among GlobeOp and SS&C, on the one hand, and the Millennium Managers on the other that covers claims asserted in the UK Arbitration). The settlement agreement was approved by the United States District Court for the Southern District of New York on July 7, 2014. Assuming no appeals are filed, the District Court order approving the settlement will become final on or about August 6, 2014 and the settlement would be consummated within ten business days thereafter. The settlement does not affect the claims, counterclaims and/or defenses as between GlobeOp and the Master Fund.
	GlobeOp’s insurers have agreed to fund the entirety of the settlement amount contemplated to be contributed by GlobeOp.
	The Company cannot predict the outcome of these matters. The Company believes that it has strong defenses and is vigorously contesting the UK Arbitration (as described above, the U.S. Class Action is the subject of a settlement agreement). The amount of any potential loss, if any at all, cannot be reasonably estimated at this time.
	In addition to the foregoing legal proceedings, from time to time, the Company is subject to other legal proceedings and claims. In the opinion of the Company’s management, the Company is not involved in any other such litigation or proceedings with third parties that management believes would have a material adverse effect on the Company or its business.

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2014
Goodwill And Intangible Assets Disclosure [Abstract]	'
Goodwill	'
	8. Goodwill
	The change in carrying value of goodwill as of and for the six months ended June 30, 2014 is as follows (in thousands):
	Balance at December 31, 2013	$	1,541,386
	Effect of foreign currency translation		6,118
	Balance at June 30, 2014	$	1,547,504

Income_Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	9. Income Taxes
	The effective tax rate was 30% and 27% for the three months ended June 30, 2014 and 2013, respectively, and the effective tax rate was 31% and 27% for the six months ended June 30, 2014 and 2013, respectively. The change for the three months ended June 30, 2014 was primarily due to a greater percentage of earnings being generated in domestic jurisdictions. The change for the six months ended June 30, 2014 was primarily due to the unfavorable impact of tax law changes enacted in New York during the first quarter of 2014.

Basis_of_Presentation_Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). The objective of ASU 2014-09 is to clarify the principles for recognizing revenue by removing inconsistencies and weaknesses in revenue requirements; providing a more robust framework for addressing revenue issues; improving comparability of revenue recognition practices across entities, industries, jurisdictions and capital markets; and providing more useful information to users of financial statements through improved revenue disclosure requirements. The provisions of ASU 2014-09 are effective for interim and annual periods beginning after December 15, 2016. The Company is currently evaluating the impact of this standard on its financial position, results of operations or cash flows.
	In July 2013, the FASB issued ASU No. 2013-11, Income Taxes (Topic 740) – Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU 2013-11”). The objective of ASU 2013-11 is to end some inconsistent practices with regard to the presentation on the balance sheet of unrecognized tax benefits. ASU 2013-11 is effective for financial statement periods beginning after December 15, 2013, with early adoption permitted. The adoption of this standard in the first quarter of 2014 did not have a material impact on the Company’s financial position, results of operations or cash flows.
Stock Repurchase Program	'
	The Company uses the cost method to account for treasury stock purchases. Under the cost method, the price paid for the stock is charged to the treasury stock account.
Basic and Diluted Earnings per Share	'
	Earnings per share (“EPS”) is calculated in accordance with the relevant accounting standards. Basic EPS includes no dilution and is computed by dividing income available to the Company’s common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income by the weighted average number of common and common equivalent shares outstanding during the period. Common equivalent shares consist of stock options and restricted stock using the treasury stock method. Common equivalent shares are excluded from the computation of diluted earnings per share if the effect of including such common equivalent shares is anti-dilutive because their exercise prices together with other assumed proceeds exceed the average fair value of common stock for the period. The Company has two classes of common stock, each with identical participation rights to earnings and liquidation preferences, and therefore the calculation of EPS as described above is identical to the calculation under the two-class method.
Debt	'
	The repricing of the debt was evaluated in accordance with FASB Accounting Standards Codification 470-50, Debt – Modifications and Extinguishments, for modification and extinguishment accounting. The Company accounted for the repricing as a debt modification with respect to amounts that remained in the syndicate and a debt extinguishment with respect to the amounts that exited the syndicate.
Fair Value Measurements	'
	The authoritative guidance relating to fair value measurements and disclosure establishes a valuation hierarchy for disclosure of the inputs to the valuations used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows.
		•	Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.
		•	Level 2 inputs are quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, including interest rates, yield curves and credit risks, or inputs that are derived principally from or corroborated by observable market data through correlation.
		•	Level 3 inputs are unobservable inputs based on the Company’s own assumptions used to measure assets and liabilities at fair value.
	A financial asset’s or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.

Stockbased_Compensation_Tables

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Schedule of Stock-Based Compensation Expense Recognized	'
	For stock options with time-based vesting and restricted stock, the total amount of stock-based compensation expense recognized in the Company’s Condensed Consolidated Statements of Comprehensive Income was as follows (in thousands):
		Three Months Ended					Six Months Ended
		June 30,					June 30,
	Statements of Comprehensive Income Classification	2014			2013		2014		2013
	Cost of software-enabled services	$	924		$	719	$	2,008	$	1,470
	Cost of maintenance		66			67		157		138
	Cost of professional services		99			84		216		171
	Total cost of revenues		1,089			870		2,381		1,779
	Selling and marketing		498			302		1,135		606
	Research and development		273			236		583		466
	General and administrative		935			521		1,671		1,184
	Total operating expenses		1,706			1,059		3,389		2,256
	Total stock-based compensation expense	$	2,795		$	1,929	$	5,770	$	4,035
Summary of Stock Option Activity	'
	A summary of stock option activity as of and for the six months ended June 30, 2014 is as follows:
		Shares of Common
		Stock Underlying
		Options
	Outstanding at January 1, 2014		11,515,642
	Granted		72,750
	Cancelled/forfeited		(138,782	)
	Exercised		(973,781	)
	Outstanding at June 30, 2014		10,475,829

Basic_and_Diluted_Earnings_per1

Basic and Diluted Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Computation of Basic and Diluted Earnings Per Share	'
	The following table sets forth the weighted average common shares used in the computation of basic and diluted earnings per share (in thousands):
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Weighted average common shares outstanding		83,118		81,186		82,921		80,268
	Weighted average common stock equivalents – options and restricted shares		3,973		4,094		4,078		4,282
	Weighted average common and common equivalent shares outstanding		87,091		85,280		86,999		84,550

Debt_Tables

Debt (Tables)	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Component of Debt	'
	At June 30, 2014 and December 31, 2013, debt consisted of the following (in thousands):
		June 30,			December 31,
		2014			2013
	Credit facility, weighted-average interest rate of 2.95% and 3.09%, respectively	$	675,000		$	782,000
	Unamortized original issue discount		(6,802	)		(7,493	)
			668,198			774,507
	Short-term borrowings and current portion of long-term debt		(23,814	)		(23,212	)
	Long-term debt	$	644,384		$	751,295

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Schedule of Assets and Liabilities Carried at Fair Value Measured on Recurring Basis	'
	The table below segregates all financial assets and liabilities that are measured at fair value on a recurring basis (at least annually) into the most appropriate level within the fair value hierarchy based on the inputs used to determine their fair value at the measurement date (in thousands):
		Total Carrying		Level 1		Level 2		Level 3
		Value at
		30-Jun-14
	Assets	$	—	$	—	$	—	$	—
	Liabilities:
	Contingent consideration	$	900	$	—	$	—	$	900
	Total liabilities	$	900	$	—	$	—	$	900
		Total Carrying		Level 1		Level 2		Level 3
		Value at
		December 31, 2013
	Assets	$	—	$	—	$	—	$	—
	Liabilities:
	Contingent consideration	$	500	$	—	$	—	$	500
	Total liabilities	$	500	$	—	$	—	$	500

Goodwill_Tables

Goodwill (Tables)	6 Months Ended
	Jun. 30, 2014
Goodwill And Intangible Assets Disclosure [Abstract]	'
Summary of Changes in Carrying Value of Goodwill	'
	The change in carrying value of goodwill as of and for the six months ended June 30, 2014 is as follows (in thousands):
	Balance at December 31, 2013	$	1,541,386
	Effect of foreign currency translation		6,118
	Balance at June 30, 2014	$	1,547,504

Stockbased_Compensation_Schedu

Stock-based Compensation - Schedule of Stock-Based Compensation Expense Recognized (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Total stock-based compensation expense	$2,795	$1,929	$5,770	$4,035
Cost of Software-Enabled Services [Member]	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Total stock-based compensation expense	924	719	2,008	1,470
Cost of Maintenance [Member]	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Total stock-based compensation expense	66	67	157	138
Cost of Professional Services [Member]	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Total stock-based compensation expense	99	84	216	171
Total Cost of Revenues [Member]	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Total stock-based compensation expense	1,089	870	2,381	1,779
Selling and Marketing [Member]	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Total stock-based compensation expense	498	302	1,135	606
Research and Development [Member]	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Total stock-based compensation expense	273	236	583	466
General and Administrative [Member]	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Total stock-based compensation expense	935	521	1,671	1,184
Total Operating Expenses [Member]	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Total stock-based compensation expense	$1,706	$1,059	$3,389	$2,256

Stockbased_Compensation_Summar

Stock-based Compensation - Summary of Stock Option Activity (Detail)	6 Months Ended
	Jun. 30, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Outstanding at January 1, 2014	11,515,642
Granted	72,750
Cancelled/forfeited	-138,782
Exercised	-973,781
Outstanding at June 30, 2014	10,475,829

Stockbased_Compensation_Additi

Stock-based Compensation - Additional Information (Detail) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'	'
Income tax benefits related to the exercise of stock options	$8.20	$19.20
Income tax benefit on rollover options exercised	'	3.6
Additional paid-in capital	'	15.6
Realized cash savings through income tax benefits	'	$6.20

Stock_Repurchase_Program_Addit

Stock Repurchase Program - Additional Information (Detail) (USD $)	6 Months Ended	1 Months Ended
In Millions, except Share data, unless otherwise specified	Jun. 30, 2014	Oct. 31, 2013
		Maximum [Member]
Equity, Class of Treasury Stock [Line Items]	'	'
Amount authorized for share repurchase program	'	$100
Number of common stock shares repurchased	186,026	'
Repurchase of common stock	7.4	'
Total number of common stock shares repurchased	209,926	'
Total repurchase of common stock	$8.30	'

Recovered_Sheet1

Basic and Diluted Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Earnings Per Share [Abstract]	'	'	'	'
Weighted average common shares outstanding	83,118	81,186	82,921	80,268
Weighted average common stock equivalents - options and restricted shares	3,973	4,094	4,078	4,282
Weighted average common and common equivalent shares outstanding	87,091	85,280	86,999	84,550

Recovered_Sheet2

Basic and Diluted Earnings Per Share - Additional Information (Detail) (Stock Options [Member])	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Stock Options [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Options to purchase shares outstanding	1,881,474	6,813	1,883,870	57,584

Debt_Component_of_Debt_Detail

Debt - Component of Debt (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Debt Disclosure [Abstract]	'	'
Debt from credit facility	$675,000	$782,000
Unamortized original issue discount	-6,802	-7,493
Debt and capital lease obligations	668,198	774,507
Debt and capital lease obligations	668,198	774,507
Short-term borrowings and current portion of long-term debt	-23,814	-23,212
Long-term debt	$644,384	$751,295

Debt_Component_of_Debt_Parenth

Debt - Component of Debt (Parenthetical) (Detail)	Jun. 30, 2014	Dec. 31, 2013
Debt Disclosure [Abstract]	'	'
Weighted-average interest rate of credit facility	2.95%	3.09%

Debt_Additional_Information_De

Debt - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended				6 Months Ended		1 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Feb. 28, 2014	Dec. 31, 2013	Jun. 30, 2014	Feb. 28, 2014	Feb. 28, 2014	Feb. 28, 2014
							Term Loan A Two [Member]	Term Loan A Two [Member]	Term Loan A Two [Member]	Term Loan A Two [Member]
									LIBOR Plus [Member]	Base Rate Plus [Member]
Debt Instrument [Line Items]	'	'	'	'	'	'	'	'	'	'
Capitalized financing costs amortized to interest expense	$1.10	$1.30	$2.30	$2.30	'	'	'	'	'	'
Company amortized to interest expense	0.3	0.3	0.7	0.7	'	'	'	'	'	'
Estimated fair value of credit facility	674.5	'	674.5	'	'	783.6	'	'	'	'
Debt instrument outstanding principal amount	'	'	'	'	$213.20	'	'	$213.20	'	'
Debt instrument, basis spread on variable rate	'	'	'	'	'	'	'	'	2.00%	1.00%
Debt instrument, interest rate terms	'	'	'The applicable interest rates were reduced to either LIBOR plus 2.0% or the base rate plus 1.0%.	'	'	'	'	'	'	'
Term loan maturity date	'	'	'	'	'	'	8-Dec-17	'	'	'

Fair_Value_Measurements_Schedu

Fair Value Measurements - Schedule of Assets and Liabilities Carried at Fair Value Measured on Recurring Basis (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Liabilities:	'	'
Contingent consideration	$900	'
Fair Value, Measurements, Recurring [Member] | Carrying Amount [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]	'	'
Assets	'	'
Liabilities:	'	'
Contingent consideration	900	500
Total liabilities	900	500
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]	'	'
Assets	'	'
Liabilities:	'	'
Contingent consideration	'	'
Total liabilities	'	'
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]	'	'
Assets	'	'
Liabilities:	'	'
Contingent consideration	'	'
Total liabilities	'	'
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]	'	'
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]	'	'
Assets	'	'
Liabilities:	'	'
Contingent consideration	900	500
Total liabilities	$900	$500

Fair_Value_Measurements_Additi

Fair Value Measurements - Additional Information (Detail) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Contingent consideration liability	$0.90
Potential payments liability	30-Sep-14
Contingent consideration adjustment	$0.40

Commitments_and_Contingencies_

Commitments and Contingencies - Additional Information (Detail) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014
Commitments And Contingencies Disclosure [Abstract]	'
Funds asserting claims	$844
Millennium actions indemnity amount claimed by investment managers	26.5
Millennium actions arbitration proceeding claim amount	$160

Goodwill_Summary_of_Changes_in

Goodwill - Summary of Changes in Carrying Value of Goodwill (Detail) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014
Goodwill And Intangible Assets Disclosure [Abstract]	'
Balance at December 31, 2013	$1,541,386
Effect of foreign currency translation	6,118
Balance at June 30, 2014	$1,547,504

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Tax Disclosure [Abstract]	'	'	'	'
Effective tax rate	30.00%	27.00%	31.00%	27.00%