DST Systems, Inc. (DST) Stock Price Up 7.5% Following Better-Than-Expected Earnings
Shares of DST Systems, Inc. (NYSE:DST) rose 7.5% on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $60.83 and last traded at $60.03. Approximately 831,205 shares were traded during mid-day trading, an increase of 67% from the average daily volume of 497,185 shares. The stock had previously closed at $55.86.
The technology company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.03. DST Systems had a return on equity of 16.79% and a net margin of 35.46%. The company had revenue of $562.60 million during the quarter, compared to analysts’ expectations of $523.57 million. During the same period in the prior year, the company earned $0.77 EPS. DST Systems’s revenue was up 45.5% compared to the same quarter last year.
Several research analysts recently issued reports on the company. BidaskClub lowered DST Systems from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Robert W. Baird reaffirmed a “buy” rating and set a $68.00 target price on shares of DST Systems in a research report on Thursday, October 12th. Finally, Zacks Investment Research lowered DST Systems from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $70.00.
A number of large investors have recently made changes to their positions in the stock. Fisher Asset Management LLC raised its position in DST Systems by 11.0% during the 3rd quarter. Fisher Asset Management LLC now owns 1,496,669 shares of the technology company’s stock worth $82,137,000 after purchasing an additional 148,849 shares during the last quarter. Shell Asset Management Co. raised its position in DST Systems by 46.6% during the 3rd quarter. Shell Asset Management Co. now owns 33,919 shares of the technology company’s stock worth $2,846,000 after purchasing an additional 10,777 shares during the last quarter. Intl Fcstone Inc. bought a new position in DST Systems during the 2nd quarter worth $221,000. WFG Advisors LP raised its position in DST Systems by 128.6% during the 2nd quarter. WFG Advisors LP now owns 3,205 shares of the technology company’s stock worth $198,000 after purchasing an additional 1,803 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in DST Systems during the 2nd quarter worth $375,000. 84.99% of the stock is owned by institutional investors and hedge funds.
The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 6.05 and a beta of 1.31. The stock has a 50-day moving average of $53.94 and a 200 day moving average of $57.63.
DST Systems Company Profile
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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