PNC Financial Services Group Inc. Sells 126 Shares of DST Systems, Inc. (NYSE:DST)

PNC Financial Services Group Inc. cut its position in shares of DST Systems, Inc. (NYSE:DST) by 3.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,409 shares of the technology company’s stock after selling 126 shares during the period. PNC Financial Services Group Inc.’s holdings in DST Systems were worth $418,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of DST. Sit Investment Associates Inc. raised its position in shares of DST Systems by 6.6% in the first quarter. Sit Investment Associates Inc. now owns 28,925 shares of the technology company’s stock worth $3,543,000 after buying an additional 1,800 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of DST Systems by 33.7% in the first quarter. Acadian Asset Management LLC now owns 231,449 shares of the technology company’s stock worth $28,354,000 after buying an additional 58,367 shares in the last quarter. Northwest Investment Counselors LLC raised its position in shares of DST Systems by 1.3% in the first quarter. Northwest Investment Counselors LLC now owns 5,553 shares of the technology company’s stock worth $680,000 after buying an additional 70 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of DST Systems by 1.2% in the first quarter. Nationwide Fund Advisors now owns 114,340 shares of the technology company’s stock worth $14,007,000 after buying an additional 1,339 shares in the last quarter. Finally, Boston Advisors LLC raised its position in shares of DST Systems by 63.8% in the first quarter. Boston Advisors LLC now owns 77,473 shares of the technology company’s stock worth $9,490,000 after buying an additional 30,170 shares in the last quarter. 42.99% of the stock is currently owned by hedge funds and other institutional investors.

DST Systems, Inc. (NYSE:DST) traded down 0.97% on Friday, reaching $60.30. 422,495 shares of the company’s stock were exchanged. The company has a market cap of $3.72 billion, a P/E ratio of 6.41 and a beta of 1.32. The firm has a 50 day moving average of $61.15 and a 200-day moving average of $59.69. DST Systems, Inc. has a 12-month low of $47.26 and a 12-month high of $63.03.

DST Systems (NYSE:DST) last issued its earnings results on Thursday, April 27th. The technology company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.08. DST Systems had a net margin of 40.00% and a return on equity of 17.85%. The company had revenue of $379.80 million for the quarter, compared to analyst estimates of $368.80 million. During the same period in the prior year, the business posted $0.81 earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts expect that DST Systems, Inc. will post $3.29 EPS for the current fiscal year.

DST Systems announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 9th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 7.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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A number of brokerages recently weighed in on DST. Zacks Investment Research lowered shares of DST Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. DA Davidson began coverage on shares of DST Systems in a research note on Wednesday, June 21st. They issued a “buy” rating and a $72.00 price target on the stock. Finally, ValuEngine raised shares of DST Systems from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th.

In other DST Systems news, CFO Gregg Wm Givens sold 20,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $60.30, for a total transaction of $1,206,000.00. Following the transaction, the chief financial officer now directly owns 75,871 shares in the company, valued at $4,575,021.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jonathan J. Boehm sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $125.00, for a total transaction of $625,000.00. Following the completion of the sale, the vice president now directly owns 47,692 shares in the company, valued at approximately $5,961,500. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 647 shares of company stock worth $59,758 and have sold 55,000 shares worth $4,279,400. Corporate insiders own 1.82% of the company’s stock.

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.

Institutional Ownership by Quarter for DST Systems (NYSE:DST)

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