DST Systems, Inc. (NYSE:DST) Shares Bought by Reinhart Partners Inc.
Reinhart Partners Inc. raised its stake in DST Systems, Inc. (NYSE:DST) by 78.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 282,196 shares of the technology company’s stock after buying an additional 123,869 shares during the period. Reinhart Partners Inc. owned about 0.46% of DST Systems worth $17,411,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of DST Systems by 2.0% in the first quarter. Vanguard Group Inc. now owns 2,679,206 shares of the technology company’s stock valued at $328,203,000 after buying an additional 52,494 shares in the last quarter. BlackRock Inc. increased its stake in DST Systems by 11,086.3% in the first quarter. BlackRock Inc. now owns 2,640,409 shares of the technology company’s stock valued at $323,450,000 after buying an additional 2,616,805 shares during the period. Wells Fargo & Company MN increased its stake in DST Systems by 10.7% in the first quarter. Wells Fargo & Company MN now owns 1,738,446 shares of the technology company’s stock valued at $212,959,000 after buying an additional 167,986 shares during the period. Fisher Asset Management LLC increased its stake in DST Systems by 96.1% in the second quarter. Fisher Asset Management LLC now owns 1,347,820 shares of the technology company’s stock valued at $83,160,000 after buying an additional 660,441 shares during the period. Finally, State Street Corp increased its stake in DST Systems by 1.7% in the first quarter. State Street Corp now owns 911,916 shares of the technology company’s stock valued at $111,714,000 after buying an additional 15,209 shares during the period. Institutional investors own 42.99% of the company’s stock.
DST Systems, Inc. (NYSE:DST) traded up 0.13% during mid-day trading on Monday, reaching $62.07. The company had a trading volume of 282,689 shares. DST Systems, Inc. has a 12-month low of $47.26 and a 12-month high of $122.11. The stock has a 50-day moving average of $60.67 and a 200 day moving average of $58.90. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 6.60 and a beta of 1.32.
DST Systems (NYSE:DST) last announced its quarterly earnings data on Thursday, April 27th. The technology company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.08. DST Systems had a return on equity of 17.85% and a net margin of 40.00%. The business had revenue of $379.80 million during the quarter, compared to analyst estimates of $368.80 million. During the same period in the prior year, the company earned $0.81 earnings per share. DST Systems’s revenue was up 5.1% compared to the same quarter last year. On average, analysts expect that DST Systems, Inc. will post $3.29 EPS for the current year.
DST Systems declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 9th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the technology company to purchase up to 7.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
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Several analysts recently issued reports on DST shares. Zacks Investment Research upgraded DST Systems from a “hold” rating to a “buy” rating and set a $67.50 price target for the company in a research note on Wednesday, March 29th. ValuEngine upgraded DST Systems from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Finally, DA Davidson started coverage on DST Systems in a research note on Wednesday, June 21st. They issued a “buy” rating and a $72.00 price target for the company.
In other DST Systems news, CEO Stephen C. Hooley sold 10,000 shares of the stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $125.23, for a total transaction of $1,252,300.00. Following the completion of the transaction, the chief executive officer now directly owns 64,703 shares of the company’s stock, valued at $8,102,756.69. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Gregg Wm Givens sold 20,000 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $60.30, for a total value of $1,206,000.00. Following the transaction, the chief financial officer now directly owns 75,871 shares of the company’s stock, valued at $4,575,021.30. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 647 shares of company stock valued at $59,758 and have sold 65,000 shares valued at $5,531,700. 1.82% of the stock is currently owned by corporate insiders.
About DST Systems
DST Systems, Inc (DST) is a provider of technology-based information processing and servicing solutions. The Company offers its solutions through data management, business processing and customer communications solutions to clients within the asset management, brokerage, retirement and healthcare markets.
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