Great West Life Assurance Co. Can increased its position in shares of Total System Services, Inc. (NYSE:TSS) by 6.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,606 shares of the credit services provider’s stock after buying an additional 7,738 shares during the period. Great West Life Assurance Co. Can owned 0.06% of Total System Services worth $6,959,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new position in Total System Services during the first quarter worth about $169,000. Pacer Advisors Inc. raised its position in Total System Services by 3.4% in the first quarter. Pacer Advisors Inc. now owns 3,597 shares of the credit services provider’s stock worth $192,000 after buying an additional 119 shares during the period. Oakworth Capital Inc. raised its position in Total System Services by 4,788.2% in the first quarter. Oakworth Capital Inc. now owns 3,715 shares of the credit services provider’s stock worth $199,000 after buying an additional 3,639 shares during the period. Doyle Wealth Management bought a new position in Total System Services during the second quarter worth about $205,000. Finally, OLD National Bancorp IN bought a new position in Total System Services during the first quarter worth about $206,000. Hedge funds and other institutional investors own 75.26% of the company’s stock.
Shares of Total System Services, Inc. (TSS) opened at 63.06 on Friday. Total System Services, Inc. has a 52-week low of $46.22 and a 52-week high of $64.94. The stock’s 50 day moving average price is $61.27 and its 200-day moving average price is $56.87. The firm has a market cap of $11.62 billion, a PE ratio of 30.60 and a beta of 1.14.
Total System Services (NYSE:TSS) last released its quarterly earnings data on Tuesday, July 25th. The credit services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.05. The firm had revenue of $844.07 million for the quarter, compared to analyst estimates of $842.57 million. Total System Services had a net margin of 8.78% and a return on equity of 25.49%. Total System Services’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 earnings per share. On average, equities research analysts anticipate that Total System Services, Inc. will post $3.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 29th will be paid a dividend of $0.13 per share. This is a positive change from Total System Services’s previous quarterly dividend of $0.10. The ex-dividend date is Wednesday, September 20th. This represents a $0.52 annualized dividend and a yield of 0.82%. Total System Services’s dividend payout ratio is 19.51%.
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A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Total System Services in a report on Thursday, July 27th. Wedbush assumed coverage on Total System Services in a report on Thursday, August 3rd. They issued an “outperform” rating and a $72.00 target price for the company. BMO Capital Markets reiterated an “outperform” rating and issued a $67.00 target price (up from $64.00) on shares of Total System Services in a report on Thursday, June 22nd. Stifel Nicolaus reiterated a “buy” rating and issued a $67.00 target price (up from $65.00) on shares of Total System Services in a report on Thursday, July 13th. Finally, First Analysis lowered Total System Services from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $60.00 to $63.00 in a report on Wednesday, May 3rd. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Total System Services has a consensus rating of “Buy” and an average target price of $64.05.
In related news, Director Philip W. Tomlinson sold 220,974 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $63.65, for a total transaction of $14,064,995.10. Following the sale, the director now owns 326,200 shares in the company, valued at $20,762,630. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard W. Ussery sold 48,000 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $59.19, for a total transaction of $2,841,120.00. Following the sale, the director now owns 219,968 shares in the company, valued at approximately $13,019,905.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 287,446 shares of company stock worth $18,074,469. 2.60% of the stock is owned by company insiders.
About Total System Services
Total System Services, Inc (TSYS) is a payment solutions provider that provides payment processing services, merchant services and related payment services to financial and non-financial institutions. The Company’s segments include North America Services, Merchant Services, NetSpend and International Services.
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