CIBC Asset Management Inc increased its stake in shares of DST Systems, Inc. (NYSE:DST) by 100.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,768 shares of the technology company’s stock after buying an additional 2,384 shares during the period. CIBC Asset Management Inc’s holdings in DST Systems were worth $294,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of DST. Benjamin F. Edwards & Company Inc. increased its position in shares of DST Systems by 0.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,424 shares of the technology company’s stock worth $174,000 after buying an additional 8 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of DST Systems during the first quarter worth about $209,000. Two Sigma Securities LLC acquired a new position in shares of DST Systems during the first quarter worth about $228,000. CENTRAL TRUST Co increased its position in shares of DST Systems by 3,458.3% in the second quarter. CENTRAL TRUST Co now owns 2,135 shares of the technology company’s stock worth $132,000 after buying an additional 2,075 shares during the period. Finally, CWM LLC acquired a new position in shares of DST Systems during the second quarter worth about $133,000. 51.74% of the stock is owned by hedge funds and other institutional investors.
Shares of DST Systems, Inc. (DST) opened at 50.76 on Friday. The firm has a market cap of $3.07 billion, a PE ratio of 5.12 and a beta of 1.29. The company has a 50 day moving average price of $56.93 and a 200-day moving average price of $59.32. DST Systems, Inc. has a 12-month low of $47.26 and a 12-month high of $122.11.
DST Systems (NYSE:DST) last announced its earnings results on Thursday, July 27th. The technology company reported $0.76 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by $0.02. DST Systems had a return on equity of 16.79% and a net margin of 35.46%. The firm had revenue of $656.20 million for the quarter, compared to the consensus estimate of $541.90 million. During the same period in the previous year, the firm earned $1.42 EPS. DST Systems’s revenue for the quarter was up 68.0% on a year-over-year basis. Analysts expect that DST Systems, Inc. will post $3.05 EPS for the current year.
DST Systems announced that its Board of Directors has approved a stock buyback program on Tuesday, May 9th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 7.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be issued a dividend of $0.18 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.72 annualized dividend and a yield of 1.42%. DST Systems’s payout ratio is 7.11%.
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A number of brokerages have recently issued reports on DST. Zacks Investment Research downgraded DST Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. DA Davidson began coverage on DST Systems in a research note on Wednesday, June 21st. They set a “buy” rating and a $72.00 target price for the company. ValuEngine raised DST Systems from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Finally, BidaskClub downgraded DST Systems from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th.
In related news, CFO Gregg Wm Givens sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $60.30, for a total transaction of $1,206,000.00. Following the sale, the chief financial officer now owns 75,871 shares of the company’s stock, valued at $4,575,021.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders have purchased 847 shares of company stock worth $59,770. 1.82% of the stock is 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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