DST also has a substantial portfolio of investments, "and I don't think they get nearly enough credit for these holdings," he said.
DST has a large stake in State Street, the custodial bank. Also they have significant real estate holdings, major investments in private equity funds, and some direct investments in private companies.
"When you add up all of these disparate assets on top of the core business, you get a sum of the parts valuation for DST that's worth a heck of a lot more than the current $62 and change share price," Cramer said.
Hence Cramer's outlook that DST could be a terrific stock.
The analyst community seems to share Cramer's sentiment. Credit Suisse estimated that the company is worth $75, or a 21% increase over where DST's traded on Friday Dec. 7th. And Sterne Agee upgraded the stock Friday with a $71 price target.
But there's more here than just a potentially undervalued company – "I see a number of signs suggesting that DST could be preparing to take itself private," said Cramer. "In recent months, DST has started to get aggressive about selling off some of its parts. I think they could keep selling the disparate parts until only the core business remains," Cramer said.
"Also, DST has bought back more than 60% of its outstanding shares over the last decade, and it's bought back 40% just since 2006."
Read More: Buybacks Expected to Increase
On top of that, Cramer added DST could even win a bid from private equity.
"If they sold off the billing statement printing and mailing business, which is in an industry that's way too competitive, they'd be left with a pure play financial services company. That's something a private equity buyer might find very attractive."
Private Equity Assets Hit Record $3 Trillion
All told, Cramer thinks there's real value in DST that can be unlocked, and he strongly believes that it will be unlocked."