SS&C Technologies Holdings, Inc.

Ladies and gentlemen, thank you for standing by and welcome to the SS&C Technologies Third Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 on your telephone. Please be asked that you limit your questions to one question and one follow-up question. I would now like to hand the conference over to your speaker today, Justine Stone. Please go ahead.

Hi, everyone. Welcome and thank you for joining us for our Q3 2020 earnings call. I'm Justine Stone, investor relations for SS&C Technologies. With me today is Bill Stone, chairman and chief executive officer, Rahul Kanwar, president and chief operating officer, and Patrick Pedanti, our chief financial officer. Before we get started, we need to review the safe harbor statement. Please note that various remarks we make today about future expectations, plans, and prospects, including the financial outlook we provide, constitute forward-looking statements for the purposes of the safe harbor provisions under the Private Security Litigations Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in the risk factor section of our most recent annual report on Form 10-K, which is on file with the SEC and can also be accessed on our website. These forward-looking statements represent our expectations only as of today, October 28th. 2020. While the company may elect to update these forward-looking statements, it specifically disclaims any obligation to do so. During today's call, we'll be referring to certain non-GAAP financial measures. A reconciliation of these non-GAAP financial measures to comparable GAAP financial measures is included in today's earnings relief, which is located in the investor relations section of our website at www.ssctech.com. I will now turn the call over to Bill.

thanks justine and thanks everyone for joining us today i hope you and yours are home safe and healthy i'll discuss our results for the quarter then walk through our assumptions for the remainder of the year as we continue to navigate the covet 19 world our results for the quarter are 1 billion 156 million dollars in adjusted revenue up a half a percent and dollar 10 and adjusted diluted earnings per share of 18.3 percent are adjusted Consolidated EBITDA was $463.3 million, $466.3 million, and our adjusted consolidated EBITDA margin increased to 40.3 percent. I think that was up 180 basis points. Our Q3 adjusted organic revenue was down 1.4 percent. And while we have seen some sales improvement, particularly within our recent businesses, we have continued weaknesses in our perpetual be rectified when we can get back in front of people. And we face some COVID-specific headwinds in our healthcare business. Obviously, people have not been able to fulfill as many prescriptions as they did prior to COVID. Alternative Fund Administration had a strong quarter with 4.3% organic growth, and the rebound in the M&A market helped drive Interlink's growth to 5.9%. Organic cash flow was $755 million for the nine months into September 30, 2020. Our secured net leverage is 2.52 times and total net leverage is 3.58 times. We bought back 3.1 million shares of common stock at an average price of $61.44 per share for $191.9 million. We still prioritize high-quality acquisitions and are evaluating a number of assets. In September, we brought on Frank Egan to be Managing Director of Mergers and Acquisitions. Frank has over 35 years of experience in investment banking and venture capital, and he will help us both source new deals and work with our business unit managers to evaluate different acquisition prospects. The pandemic has caused a lot of uncertainty in our global economy and major swings in the stock market. Despite this, SS&C has preserved our core DNA, our sales force is hungry, and our technology teams are innovative. Over the past couple of months, we have signed two of the largest deals ever in the retirement space. We believe retirement will continue to be a hot area for us, and we hope to build solid references at Nationwide and ICMA. The industry continues to adopt Edge Eclipse, and we signed a record 20 new clients in September. As you know, we sell Edge Eclipse on a term basis, so the revenue will be radically earned over the next few years. We have integrated Black Diamond and InterTrust, and we have begun to get some traction. Banks and trust companies are competing with warehouses and RIAs, and we anticipate this being an ongoing trend in 2021. Our alternatives business set a new record high for alternative assets under administration at $1.89 trillion, surpassing our previous record set last quarter. so much for the demise of the alternatives industry. We believe alternative asset managers are well positioned in these volatile markets. Our 2020 scenario analysis can be found on pages four and five of our earnings results slides. We continue to use 2021 scenario as our baseline with an incremental increase or decrease of about 25 million, dependent upon the state of the economy, which obviously is also dependent upon the global pandemic. We anticipate earnings per share to come in at about $4.21 as our baseline, up 11 cents from last quarter's estimate. I'll now turn the call over to Rahul to discuss the quarter in a little more detail.