SSNC - Earnings call transcript Q4 2021 | SS&C Technologies Holdings, Inc.

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Operator

Thank you for standing by. My name is Brent and I will your conference operator today. At this time, I would like to welcome everyone to the SS&C Technologies’ Fourth Quarter and Full Year 2021 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. you. Thank Instructions] [Operator my Head turn of now to call Justine Stone, Investor pleasure is today’s to over It Relations. Please go ahead ma’am.

Justine Stone

and Financial and Kanwar, Chief Patrick earnings Stone, Chairman Hi, our President Technologies. With Investor and Welcome thank Chief Officer. is joining SS&C our for Pedonti, everyone. Bill today us Relations fourth for quarter and I’m Executive full Operating call. XXXX and Officer; me year Chief Justine Stone, you for Officer; Rahul

a need to note forward-looking these is website. we and financial materially most XXXX. various of in the Securities safe be our Risk These Factors as we Before today those as the Please started, section may we those provide, results expectations, accessed represent expectations of statements XXXX. Actual the review harbor statement. can on forward-looking purposes Private indicated XX-K, of Litigation prospects, Safe that make Reform only factors, constitute statements report discussed get the February outlook from our differ result we including today, the our remarks by Harbor on SEC Act including various for the plans provisions about future and file annual with XX, Form the of of also forward-looking statements important on recent which under

disclaims it While do update the to company any obligation to specifically elect forward-looking statements, these may so.

quarter over non-GAAP operating now we venture reconciliation on we Relations by is primary website to financial During EBITDA, SS&C. will which XXXX, in majority based today’s DomaniRx these of A turn the attributable SS&C I earnings included certain financial financial will the call www.ssctech.com. in income, In Investor named measures. holder including net Bill. the figures earnings comparable today’s are into to we retained to ownership and located GAAP the measures is discussed and third at income our are measures the of which today, joint call, referring be entered non-GAAP of EPS a beneficiary. section All interest to LLC, interest release

Bill Stone

thanks, and Justine, Thanks, for everyone, joining.

billion share, results fourth and per Our the adjusted up earnings $X.XX are revenue, X.X%; XX.X%. adjusted in in diluted quarter up for $X.XXX

year, was up million, the X.X% and adjusted consolidated adjusted for $X.XX, and Adjusted billion EPS our $X was was EBITDA XX.X%. XX.X%. For was revenue $XXX.X up $XXX margin the diluted and EBITDA quarter million

respectively. Our line our Intralinks fourth that revenue drive quarter up adjusted to businesses at expectations, X.X% organic growth of our top ahead was continue and XX%, growing our XX.X% alternatives

force the on in and earnings are release, As automation R&D on efforts towards our impact I mentioned the its pressure pandemic our press our in productivity Much services diverted great drawing gains business efficiency our third-party creates labor and administrators. costs. At and put that of highest counteract is just companies levels fund from labor the and resignation time, This higher opportunity. costs. the these the many same pressure causing attention to consider of

willing meet hire outsourcing publicly Based execution invest $X to the generated market. volumes services a And see business across year the for comfortably in heights share continue previous and record the trillion. clients M&A was phenomenon see ever, X% gained we time our technology. new are be not catalyst fast scaling or XXXX as deals, the M&A Intralinks on $X.XX Global breaking propelling market record eclipsing topped replace of M&A, We to our businesses. expect trillion gains. to announced share being for a first talent market our in We while shifts able competitors the needs to it this talent within in Firms house cannot for operations as enough. talent we industry. of their well to worldwide

paid increase to XXXX. secured majority ended from and the December survey million XXXX, forecasts billion $XXX X.XX operating down total. on or M&A based generated X.XXX in our X.XX in months XX XX.X% cash million up XXXX. XX net of expected the for SS&C over XXX and current of $XXX.X ratio at dealmakers level and the activities activity debt leverage Our We from of stands XXXX of

Our November, backs the to increase our payout, information at related now shareholder XXXX, $XXX.X total a restricted group bought XX% million friendly Prism acquisition. share, material back top due nonpublic we of an back strategy from to capital We allocation a X.X QX, in quarterly for priority. Board per remains XXXX, were a in shares, per price buying average dividend of In the Blue XX.XX approved million. $X.XX share. In

can We in what and close QX are progress Prism or made with good We’ve to acquisition. still approvals Blue to QX. expect we limited say the regarding regulatory

on more refer background and call information quarter to please acquisition I turn our on strategic discuss this steam our document. detail. will For over more Rahul the to rationale, the to in now

Rahul Kanwar

have Thanks collaboration to across performance. been Sales key market and this drivers units Bill. execution, year’s our business strength

extremely new we performed great progress technology, well business success. which and for on up us set Our will made further

has productivity clients and We integration now Algorithmics has insights. led optimization Chorus, a singularity pipeline. innovation checks. wins front-office the in-office with our our continue new and achieve focused focus pre-trade nanosecond workforce and improve hybrid Algorithmics can to to increased deal remote provide response operations tool automated on workflow and released on times management to for solution new

first Suite commercial Black Trust and Diamond was the Newly to model SS&C and [Indiscernible] under created client. contract sold combining single

API great in platform. native adjudication On been the has cloud DomaniRx front, strides our making building driven claims healthcare

The reporting Advent $X.X In the their of hedge income. their firm global services of Geneva outsourcing to Now serve suite serve pension upgrade firm billion over trading solution based some fund Canadian New ownership equity our provinces our chose our cloud move newest citing solution health chose of delivery $X.X with to key investment chose the Aloha. based services to of Aloha deals a arm chose one suite manager a investment the Eze as a overall to chose of to the chose business. component win. to operations their premier investment upgraded new A accounting AUM middle and and and wide all a fund mutual and At products. A turn to Eclipse. Malaysian billion mention products run financial efficiently AUM vision solution services technology now Kuwait, to cloud, York to A top accounting operations. also AUM and trust of to insurer fixed A large scale chose will I grow and in will billion asset through company A financials. our Advent for it a our suite objective due solution. Patrick for I accounting hedge key fund, QX. in insurance $X back office for company singularity

Patrick Pedonti

Thank you. GAAP $XXX.X Adjusted $XX.X advent, strength Adjusted Revenue increased revenue over XX.X% apps, was QX, QX, increased including $X.XX, EPS businesses. the asset million were revenues or for or the and Adjusted Results revenue were business, up X.X% $X.XX. acquired standard XX.X XXXX. of growth X.X%. alternative deferred strong was adjustments million of the revenue lines fourth diluted $X of the revenues of Adjusted operating and XXXX. billion billion over quarter income adoption a including net several revenue and XXX brokerage the product $XXX.X the for Intralinks of across $XXX.X of million, with $X acquisitions. GAAP XXXX million, impact EPS and shows income increase adjusted

$XX.X the contributed acquisitions quarter. Our in million

the agreement, quarter adjusted fourth flow an proportionally was for to of of XX%. defined credit in in note of from senior $XX.XX DomaniRx buybacks earnings in debt Net financing million quarter the billion for X.XX% the cash $XXX we Foreign facility, our as compared for quarter of X.X A and $XXX.X million. the and increased months of operating increased $XXX.X QX, or including EPS balance as the on buybacks. income allocated option fourth to XXXX. million quarter. was million by revenue, buybacks $X.X up increased cash currency in on OID. million of And in of million Adjusted Adjusted to of was income end both July reduction that debt of new $X.X million in $X.XXX expenses XX.X% for an our effective purchases of exercises. tax flow Adjusted was cost gross quarter our Diluted billion or of cash year. free exchange which XXXX. million, quarter was the full or the had controls. and and increased Expenses for an and and to was for repurchase XX interest four equivalents by of expense were program of operating ended cost XXX XXX.X an on compared The million as decrease XX.X $X.X cash expense per XXXX EBITDA consolidated includes by, increase XXXX, the a to quarter Adjusted net $X.XX. the a X.X% December X.X% stock XXXX. $XXX.X quarter notes Operating foreign share credit $XXX.X million from the of $X In XX.X% in average months for fourth basis X.X% Board quarter. increase a $XXX On of of XXXX. net dollars the the average favorable with stock earnings cash price million from costs the was non-cash, and Treasury we in flow, in increase in buybacks authorized margins or SS&C’s $X.X in constant LLC equivalents constant share. growth interest organic release million three increase note our debt. $XX.X million, and compares defined a $X.X resulted fourth million impact a X.X% Adjusted XX, cash fourth and our shares billion XX to of the or Acquisitions includes rate balance held XX% in for a defined million and increase was of $XXX.X $XX QX currency currency revenue And at million our interest the XXXX. or for of payments. in result in X.XX% driven average X%. revenue of the fourth a price XX.X% XXXX in shares year, income the basis. And adjusted stock treasury quarter to of and release amortized, $X.X added in adjusted rate was used debt sheet the net million million $XXX.X XX.X% stock cash ended million of

as dividends were approximately and million payments stock Net million paid million, have an compared compared We million of million last $XXX.X XXXX. XX.X%. debt $XXX.X to to declared $XXX increase We year, that $XXX.X of remaining $XXX authorization. on in common

the year, paid full $XXX.X compares income of in to For we that $XXX.X taxes million XXXX. and million

down to capitalized $XXX.X was receivable XX.X revenue X.X million to million of in Capital and compared and shares of accounts X.X% proceeds expenditures capitalized as infrastructure. $XXX.X were X was for was for million, about XXXX, IT XX.X year. adjusted to million Spending for days the last September Our million December just days DSO compared and compared XXXX. XXXX. exercise Option days XX.X of as for million predominantly shares $XXX.X software year $XXX.X software to

$X.X our based for level was acquisition. ratio our cost our covenant for some was secured assumptions. and data On which million, our billion cover times. $X.XX ratio of And high total and times compliance and year, I X.XX EBITDA acquired consolidated the on first $X.X to X.XX EBITDA outlook includes that are related used leverage was saving Our will million

to current range the As continue client to we’re acquisitions results. be recent not XXXX on retention guidance. Pending of in services, in our are rates we focusing included most expect

We the be current exchange foreign have currency will assumed levels. at

in rates, we’ve part for of range LIBOR be the the adjusted range X% latter we to X% of and will be In of six-month spread. the X.X% XX LIBOR a will plus in spread organic X.X%. growth have the growth As bips. be On result organic it adjusted QX will interest the for to of that year, the assumed XXX to three-month assumed mid-year near and the plus of term, the Day year for

of due our to variable revenue. to continue margins And invest increase to staff manage business will expect X.X% maintain for in will controlling expenses to costs our expenditures during of this by capital inflation. we our wage operating and expenses period continued we We approximately

Now free down be to buybacks to continue both cash debt flow, the adjusted we allocate we stock and pay will approximately and XX%. tax expect continue to rate to

shares billion $X.XXX of revenue range diluted to million expect $XXX.X $XXX.X range for million we XXXX, the to income be of range So first in $XXX.X the $XXX the $X.XXX billion. and of in million. to the net to in quarter of million Adjusted

$XXX.X full in to in billion the revenue of of Adjusted $XXX.X $X.XXX billion year billion expect the range $X.XXX expect we to million we For And be $X.XXX shares $X.XXX final range in million. the to back $X.XXX Bill diluted And range operating full billion for of $X.XXX in and the the of billion. it over XXXX, comments. of to to to turn billion flow, in year our cash range net income I’ll the

Bill Stone

staff commitments private which our an busy require sales announce private customers, we enormous of our week. we Not of to expect our showing very cloud coordination I’m that amount contractual have SS&C’s SOC-X proud SOC-X. are on These commitment. And cloud types completed is but and close a only prospects. to delivered we to have audits we to our have our on within

are one a of certified and which open rollout private first products I’ll companies fast questions. technology. this up it and offering. with the utilize services secure, as now SOC-X robust lightning and for tuned Stay SOC-X We we cloud hyper

Operator

line from with first comes Young Truist Your Securities. [Operator a of question Instructions] Michael

line is Your open.

Michael Young

Thanks bit that. a button view an I well. with question. my about having of taking issue was the as Sorry for

wanted the cost offset trying those and about start maybe staff increases to the costs to with commentary other savings. some Just with

as to of some year-over-year? slight of pressure the with will the on margin current Should Just as kind that next Or guide think the some we of of think year of inflation? we of kind revenue do there normal, look EBITDA dynamics expansion with given expectations. kind you with kind in-line the be forward kind of

Bill Stone

Well, I mean, we’re not immune.

are if to that sought team. employees We they’re to little are we we be we’ll are a points. and do we the XX maybe better. be tailwind, and larger going are lots gains of to we have a and But, raises our will and great also to frequent. our in basis productivity in that more highly And going think after, XX margins businesses able bonuses stand the little a And get

Michael Young

specific about a kind be part That’s should up, expecting helpful. whole does as And that much we just as contract of how kind into or business the as inflation a of pricing as maybe business follow maybe a next of we lines, of and think how play tailwind much a year?

Bill Stone

Truist financial and reporting of are and accounting, accounting, accounting customers tax and Well, like users our reporting. investment and other and and sophisticated technology,

keep So our people what increase, work in on our they’re aware. our staff the They are have our aware really that glove clients. with same hand we costs And that’s and they clients. gets want to as to

And focused And we I price prices two go are and certainly that likes so, nobody cognizant And people up, very the up. understand. for go that it think have increases, think costs understand we that to have is on something years. three people of when or last I

Operator

Jefferies. of question line with Surinder next comes Thind Your from

is open. line Your

Surinder Thind

ago for going we question versus Day, a be to in Day with How Can term full start to guide Investor what like the what range to about or you like sounds of is think talked longer it about to where months next at the I’d should X% Is organic the the is It that you’re Investor X% adjusted headwinds the X% year. few clients put about projects? currently? about term? near for Bill, you a growth thinking that you. year. context Thank in heard delaying X% we revenue the guidance seeing

Bill Stone

is changing. as lot certainly clients a much again, as the be the it. to. now time pretty little constantly a regulatory merge you when uncertain realistic, of today, environment sure on with maybe conservative, do make right can see be And interest M&A we’re you Well rates, our speculation activity to and but of It’s trying times

we’ve and I a positive in. So quarters. we work comes And lead for to to hoping a realistic, supply bunch able business few be of am been that

products coming great got we pipelines, full have out. We

also we but optimism, to with some that have temper we So want realism.

Surinder Thind

then, most think of to and XX like for there or to pass that you maybe we in on to that this it to you’re expecting push is margins inflation costs wage how about to point? up by to that, a then, the And sense obviously how us at follow balance that clients? points margins to think an pull XX some the basis able initiatives earlier you expand a Just helpful. Is question there on provide about of be the get of can That’s year. about, point? sounds trying bridge to are this about there should as productivity able still that the Or versus the idea at this

Bill Stone

mean, again I X.X we, everybody, Well, I hired last control year and thousand like think inflation don’t we people.

So and that’s and lot lot training. that’s people of a of a administration. a that’s a lot so education that’s lot of And of

So up of go number inflationary, superior to where are more. to period to up it’s to go that and might margins go rates have are And Rahul, we’re And our to to the price we’re deliver a compete inferior And to compete, the they’re to that’s our service going our and going going hard. costs believe we’re is that’s deliver going going And you one And opportunity and add. clients. and our when going we up. in firm, something ways go our going a our are in up, which competitors service. of to

Rahul Kanwar

contracts productivity discretionary for are spend. and dynamics some opportunities the third-party enterprise covered, the that up to software you that force have still addition labor things on in Bill, coming like and we and renewal,

keep also in those things areas and obviously motivated are margin which improvement. at together that and making to costs, ought continuously looking control result some all innovating got we that better, employees our to So highly to addition in processes of we’ve in making sure other

Surinder Thind

That’s you. Thank helpful.

Operator

Peter the of question comes Your line with D.A. from Heckmann next Company.

open. is line Your

Unidentified Analyst

Thank on you. is for Hi, this Pete. John

in quick last Within administration any competitive Just over have one. fund seen guys you the the change year? dynamics

Bill Stone

you -- buying a the league APAC everything it’s at that think tables, I if Well, look is in sight. you’ll see

And got challenging the challenging limb to so and of a of they’re finish it’s think. on number they my a them. done for is, But getting couple acquisitions, them left guess and they’ve are I larger acquisitions

I what been a has don’t So with you agree of have done, that our they there than in that Rahul? difference other think competitive landscape. Would much

Rahul Kanwar

business our growth I I’d look you at also would Bill. if say, rates, accelerating. is our

in other build dynamic So ability it change past gets scale, compete get win continue And the better that and year. rate, and enhance just more our more to and every to services that’s we products is bit as a and saw year. what this we little that

Unidentified Analyst

aren’t of it. in Got EPS just [Indiscernible] contribution Hubwise the XXXX included the and we But how the guide. at should deals? I potential acquisitions current know look wondering, shares

Patrick Pedonti

Patrick, revenue. small and It’s why might be $X around revenue. is in this million shares around And fairly think, might be $XX I no million

Unidentified Analyst

Got you thank so it, much.

Patrick Pedonti

we not both They’re included indicated. as

Operator

Your with next Andrew question Schmidt Citi. of comes from line

open. Your line is

Andrew Schmidt

the Hi business. is alternatives organic questions. guys, business thanks investor the just taking for XXXX. my by the you I It growth in deck growth in have good slide in highlights like the

wondering continue, could if about within particularly, could XXXX. volatility think you how Thanks. organic do And business? was what talk for see that impact for I on it market So, growth potential, about we alternatives guidance have the expectation the you

Patrick Pedonti

high It’s administration in of the single-digits growth, XXXX. Patrick, think expect our I at the we they’re the guidance, midpoint for fund

historical. be to than higher continued So,

Bill Stone

markets, different if movement chart since been times, has indicator I line a that at publish there And think north. our capital look almost we straight of every our capital month, you at XXXX, it’s volatility the

business alternatives. strategies investments wealth match that very group but funds think large very I interest bodes in from have, So, I scale companies, see We and large very for the to alternatives well the nothing the scale think and people scale government. talented talent of and increased that fund institutions breadth large from of the that sovereign

all. So, stuff be if most guidance Guidance I see might and conservative anything alternatives. in that the are of our that

Andrew Schmidt

first And the in closing. pretty sales pipeline just on quarter, it. have impact and deal the Omicron appreciate I constructive. That’s then, maybe that. in fourth Got or an quarter

some slowed into second temporarily some down the wondering might it might have if imply point quarter in demand which first at things the Thanks. quarter? Just pent-up

Bill Stone

again right. derivatives. good everything, Everything I before, some -- mobile other we the we’re four be Analyst any be organic talked offerings Day, think related. think that COVID additive the that’s on like that high-end pretty are and Surinder revenue is to growth offer Omicron to four to we Omicron in I going acquisitions And on Well, seven some we’ve I across There growth. very product said we pretty just and as is QX our going are done think our of product of able aren’t really, But offer focused entire that or a are our are think to organic solid. anymore, all XXXX, that to the to even line. desk X.X% the scope capabilities seven, our And they

Operator

Ader Your next question JPMorgan. Jackson comes with from

open. is line Your

Jackson Ader

Great. for my taking Thanks questions, guys.

The profile first one and is of It’s Prism. you’ve on the has of acquisitions some different made. a kind financial other Blue that recent

integration or past? So, acquisitions to in some initial thoughts just relative you’ve what different the on the after the curious of closing made look might like strategy that any

Bill Stone

Yes. London for Yes, the on position really and Blue we’re in board to Prism. to frowns [ph] And takeover any anything. say U.K. us comment not

to up time. or and think QX at in happy should QX you that set that we a we’ll be that close So, with call

Jackson Ader

impact to curious then low No maybe on follow-up the I questions retention I versus down. ask. had add-on of big AUA, rates the how kind like both market much with and retention deal. then And rates I’m maybe and felt assets ticking factors?

Bill Stone

shutdown funds. think do wealth lot we sovereign AUA had one to new assets, -- fund with few of get services. clients with both a values. our market very little even but And a we’re going bit also funds think And then I launch with when Yes. or fluctuation certain of don’t I

many I don’t we headwind. much So, at we’re on but didn’t of think we do a that So, could as I not first $X.XX much a money drop of billion, billion, and service, very were [ph]. of XXXX, $XX quarter been because billion, in $XX $X.XXX billion And the it, $XX very right? don’t think take have made amount they we

think. I

stronger. strong think I So, we getting have and business it’s a very

Jackson Ader

Alright. Thank you. Okay.

Operator

next question the line Chris Sandler. Your Donat of Piper from with comes

line open. is Your

Chris Donat

Good want on one just evening. Bill question. about my AUA. that to Thanks for I and last taking follow-up the Rahul,

looking AUA, quarter-on-quarter at you at reduction and know just fund. on the surprised sovereign little Just Bill made Slide comment a was I I at the the And you XX, wealth got a just equity mix equity But think and people help can like sequential income higher fixed of probably assets understand focused the about. me you biased. I’m me decline. And again,

the So XXX like I being think a quarter. about fourth in up XX.X% S&P the

at benchmark. I’m fraction of the So, probably looking the wrong

Bill Stone

our Yes. $X.XXX now sixth. Again, I if it’s a would time this. like fifth to you trillion and the some billion league in be tables and $XXX to and We I said, we’re And at $XXX say, I have billion, years. grown tables, going the at almost XXXX. have first of quarter over think the were we’re looked we really yes, the fluctuation fifth, up But league or two in about get you think I PLA

And so, -- what’s think I up, East was up [Indiscernible]? Rahul Middle mean, and -- that I if

Rahul Kanwar

Yes, that’s right.

of So, there million is just Bill customer year. single billion us a $X there a just nearly less a in than in $XX there, AUA a is a that paid one-off said, like we’re one sort

driven performance line averages. that historical I -- that’s metrics growth, continued business be new things so, the reason. in is the like biggest with that that on have The to think won, other funds, underlying And we new

Chris Donat

thanks. Okay,

Bill Stone

a that we very and and comment very strong have bit a And their little we we strong executing. would salesforce pipelines have

Chris Donat

I for Okay. Thanks that now. business the clarifying then broken for I’d would also organic And Patrick, one. growth appreciate by

best businesses rates the financial, about growth think thinking organic XXXX? XXXX for to are growth probably rates for the the software about DST’s Just and way

Patrick Pedonti

I think so.

product think the in rate see pretty healthcare but digits, XXXX. not metric similar. to I other is XXXX. be And Intralinks XXXX And to in changes a decline would of continue the expect growth currently, we’ll be double in high we the of vast as business the majority we’re lines as our expecting

Chris Donat

Thanks much, Okay. Patrick. very

Operator

question next Credit of line Kevin Suisse. the McVeigh Your comes from with

line Your is open.

Kevin McVeigh

takes out sense just puts year, wonder to the if the XXXX. high talk so low was Last basis widened the year like it Thanks, range high range looks Any about a points and end low Great. from the this the Well, range for X%. why X% of is bit? much. It revenue the what guidance and could like I looks you to XXX the into on end get to end. little the it we you versus the

Patrick Pedonti

the somewhere think a take I now what in different million that range how I and around $XXX was million, recall. us XXXX will that from $X much its

Kevin McVeigh

--. Okay. I maybe And

Patrick Pedonti

terms. absolute In

Kevin McVeigh

up. Maybe, I Okay. it may take

Patrick Pedonti

I That’s to want. what I recall, but back can get if you

Kevin McVeigh

Okay. Maybe follow-up of one.

Patrick Pedonti

Okay.

Kevin McVeigh

any Can impact remind on you quarter things the the quarter about that? there’s seasonality. the first works fall in Is way is that what I How us that. the year-end in think the know terms some there of did like to into just things of filings and like that.

Bill Stone

in the little statement financial Well, second fourth and quarters more first quarters. a in there’s and third works than tax

right, I we Is have. Rahul? think primary that’s the that that seasonality

Rahul Kanwar

tends QX. the And other in license more Bill. bit right, a there That’s to just one little is be

Kevin McVeigh

Great. Thank you.

Operator

Jason with Morgan Faucette comes of line from next Your the Stanley. question

line open. is Your

Unidentified Analyst

market for seeing Jonathan the here. Whether of see M&A is this capability from other appreciate be geographic on James. the of you a you environment attractive color Can and update obviously, to in or from on the Hey, I two sort close? what looking would on deals targets you an sort perspective? you’re for assets what any provide you’re weighing

Bill Stone

Yes.

if to we is some concerned or of look the the that Fintech are market as in number the is as there interest think you a that market I will across in. far price horizon. has have properties coming kind reset of

get public, that just cut back and some ones of levels that the have of trying instead to nose year of to bleed kind we’re So, out fintechs early a the number of come get then in extreme. up moderate it

more a take stuff So, to lot gives a at. us look that

at right, same push growth we’re revenue hard that the time, organic up. So, to going to get

they recognized growth, have plan. lot people a And capital want that don’t acquisitions we revenue to acquisitions but if have that a their higher much have the hurdle. have don’t have organic they do for of acquisition we SS&C, so, And to within

it’s always So, our the that understands businesses. disciplined best have everybody in we to trying want it to process back that

Unidentified Analyst

Bill. environment you Thanks that sort year And asked price questions of of I been want timing to the color, increases just build for through of in been How that thinking about you the market? and given inflation. magnitude see that do on some I’ve of already some the inflation wage and pricing wage around

Bill Stone

is trying thought that’s and Make Jonathan, well for great we’re we’re a place make extremely -- different we that that sure to mean I competitive. to it to which great one lot very question. a we’ve SS&C in work. figure of and ways a pay And Yes. out that given

And a labor that just go It’s demands side the send so, to that and you way prices of your up, if it’s your is on when something of a aware cost market lot margin up, it. we’re obviously business. running well that’s don’t what going your that hammered. get is And

hammered. anxious So, not we’re to getting that

those call. need with sure So, have they clients number solve to have issues our that they our things we’re make working to when focusing on that they hard and that it’s

system. our our ago XXX I out our about came we system. a find think seminar on a or had up to treasury up a that where So just or come see And with we and treasury as today press management week webinar management new to and -- I did release, lined you we think people so

that another We really about. for product short coming in very we’re excited out have GoCentral both order a

got of happening. you a got to to have stuff win. And we lot you execute, So,

with doing You a to clients everybody, have can have have necessary business. that things get be are has to upfront we to and brutally that with you and honest on the satisfied so

Unidentified Analyst

Loud clear. Bill. and Thanks,

Operator

next with of line question UBS. from comes Alex the Your Kramm

is open. line Your

Alex Kramm

everyone. Hello, hey. Yes,

got the out on with sounded I it earlier, super healthcare decline, comment Just the more, can from hopefully right. you But that on very recently I little you’ve this bullish flush business. bit mean, a

make are more I miss JV. you And want just hoping I to Domani didn’t anything So, there. then to think partners into some maybe related, get sure the

So, updates be there any maybe great? will

Bill Stone

remain very mean, we I Yes. optimistic.

lot of progress side. we number wood, trying have of on on a have development that And the knock We people partners. become some customers, to have are

quarter on optimistic some look so, we And you at will And that we’re that positive. quite have are how over it, Is healthcare next Rahul? two announcements would about hopefully, or the that.

Rahul Kanwar

were building great have making we’re from system a we’re lots our on new right, good making We partners. of Bill. really That’s that -- and the support progress

Alex Kramm

in to year, why decline, regards be the me to business remind going this And please? down this

Rahul Kanwar

There’s some medical side. attrition on claim the

pharmacy. So, this we’re need some And we going and the medical on about side, that very have some we’ve to to year. on and Domani focused attrition known overcome is claim

Alex Kramm

of terms got Thanks soon. delivers then real decently. not pace Prism we reminder. pretty buybacks capital we sure But thanks. quick in should know continue if okay, came Yes, obviously so, already. deals? But cash that I for that about flow of allocation, the should And throwing this how Blue of the Like or attractive off, you’re be of thinking given any assume we cash up remainder just the outside a at can in the excess here

Bill Stone

to I trying would is as. the can given we’re be. guess yield not market as be term high Alex, strong. still pretty wise as that The Yes. market Again, we

buying paying X.X%. we we’re a Blue of we X% be our X% in down that active will debts, can so still And on And shares. amount imagine it would pay pretty our refinance debt. Prism just back down obviously, not we’ll I at So, good or

cash generated hoard -- a billion as acquisitions. we these did closing above of we’ll cash we’re but then of have use a in we a in And in that almost like you saw, generally still quarter what dollars So, XXXX. we

lot So, have at billion an of awful flexibility $X.XXX awful you optionality. and of a lot

Alex Kramm

Very much. Thank very you good.

Operator

question Patrick O’Shaughnessy of the James. Raymond Your line from with comes final

Your open. is line

Patrick O’Shaughnessy

Hi, evening. good

getting going for is antitrust acquisitions to extended stance regulatory current going On challenging you incrementally think the steering approval be given forward of anticipate a the larger more from likely you Or reviews? front, do clear regulators. M&A global would

Bill Stone

going again I anxious you that’s the that Patrick, we and could we imagine. antitrust right, success we’re the to the as we’re able hopefully mean, And attractive will we’re more At getting time, it. way have the acquisition drive -- to hide. is, so dog-in close well, not reviews to more activities same M&A in to be not [ph] be our big, an

Patrick O’Shaughnessy

Got it.

might either on have increase offer preliminary threats to the SECs managers then theme, And to any do fund on proposal opportunities how guys you Okay. private requirements thoughts the on disclosure or regulatory staying SS&C?

Bill Stone

help do regulation and optimistic it’s with think in primarily ability an we’re additional to to our our that. clients I opportunity

Patrick O’Shaughnessy

All right. Thank you.

Operator

this There at to back call turn the for like Bill Mr. time. questions further no Stone now would are I over to closing remarks.

Bill Stone

or And Thanks in talk you XX QX. at to talk stay days so. And end stay Thank we’ll you with of you. everybody. We look healthy to forward safe. the and

Operator

gentlemen, for concludes conference participation. call. thank This and you Ladies today’s your

disconnect. now may You

SS&C Technologies (SSNC) 11 Feb 222021 Q4 Earnings call transcript