Last €75.39 EUR
Change Today -0.66 / -0.87%
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Company Description

Contact Info

333 West 11th Street

Kansas City, MO 64105

United States

Phone: 816-435-1000

Fax:

DST Systems, Inc. provides technology-based service solutions. The company serves customers in the asset management, brokerage, retirement, insurance, healthcare and other markets to help process, communicate, and safeguard critical customer information. Segments The company operates in three segments: Financial Services, Healthcare Services, and Customer Communications. FINANCIAL SERVICES The Financial Services Segment provides a variety of services to the asset management, brokerage, retirement and insurance industries and is the largest provider of third-party shareowner recordkeeping services to the mutual fund industry. The company has proprietary systems that are integrated into its solutions including: shareowner recordkeeping and distribution support systems for United States (U.S.) and international mutual fund companies, broker/dealers and financial advisors; a defined-contribution participant recordkeeping system for the U.S. retirement plan market; investment management systems offered to U.S. and international investment managers and fund accountants; and business process management and customer contact system offered to a broad variety of industries. The Financial Services segment distributes its services and products on a direct basis and through subsidiaries and joint venture affiliates in the U.S., United Kingdom, Canada, Europe, Australia, South Africa, the Asia-Pacific and the Middle East. Asset Management The company markets shareowner recordkeeping, distribution support solutions, asset gathering and servicing solutions, and investment management solutions to asset managers. Shareowner Recordkeeping The shareowner recordkeeping systems and services support open and closed-end mutual funds, alternative investments, and various forms of tax advantaged savings vehicles. Included in tax-advantaged accounts are individual retirement accounts (IRAs) and educational savings plan accounts, which include both Coverdell and Section 529 college savings plan accounts. The company markets its shareowner accounting and related products and services to investment company sponsors, plan recordkeepers, and financial intermediaries. The company's clients who utilize the shareowner recordkeeping platform are open-end mutual fund companies, which obtain funds for investment by making a continuous offering of their shares. The proprietary system application for shareowner recordkeeping is TA2000. TA2000 handles various shareowner related activities, including purchases, redemptions, exchanges, and transfers of shares; maintaining shareowner identification and share ownership records; reconciling cash and share activity; calculating and disbursing commissions to brokers and other distributors; processing dividends; reporting sales; and providing information for printing of shareowner trade confirmations, statements, and year-end tax forms. The system processes multiple classes of equity, fixed income, and money market funds. As of December 31, 2013, the company provided shareowner recordkeeping services for approximately 71.2 million registered accounts (both tax-advantaged and non-tax advantaged accounts). As of December 31, 2013, 40.6 million of the registered accounts were tax-advantaged. The company serviced 23.0 million IRAs invested in mutual funds and 8.3 million accounts in an assortment of retirement accounts (SAR-SEP, Keogh and SIMPLEs). In addition, it supported 9.3 million educational savings accounts, of which 8.6 million are Section 529 plan accounts. Distribution Support Solutions The company offers products designed to assist clients in meeting the expanding needs associated with distributing the U.S. investment products through financial intermediaries. The range of solutions supporting distribution of investment products is expanding to address regulatory, service, and information needs of the financial services industry. Certain products are paid by investment managers and certain products are paid by the distributor. The two primary distribution support solutions offered are DST Vision and Financial Advisor Network (FAN Mail). DST Vision is an aggregating Website

 

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Industry Analysis

DST

Industry Average

Valuation DST Industry Range
Price/Earnings 9.2x
Price/Sales 1.4x
Price/Book 3.1x
Price/Cash Flow 6.4x
TEV/Sales 1.0x
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