Cowen and Company reiterated their buy rating on shares of Total System Services, Inc. (NYSE:TSS) in a report issued on Thursday morning. Cowen and Company currently has a $67.00 price objective on the credit services provider’s stock.
TSS has been the subject of several other research reports. Keefe, Bruyette & Woods reissued a buy rating on shares of Total System Services in a report on Thursday, July 27th. Wedbush assumed coverage on shares of Total System Services in a report on Thursday, August 3rd. They set an outperform rating and a $72.00 price objective for the company. BMO Capital Markets reissued an outperform rating and set a $67.00 price objective (up previously from $64.00) on shares of Total System Services in a report on Thursday, June 22nd. Stifel Nicolaus reissued a buy rating and set a $67.00 price objective (up previously from $65.00) on shares of Total System Services in a report on Thursday, July 13th. Finally, Morgan Stanley reissued an equal weight rating and set a $63.00 price objective (up previously from $58.00) on shares of Total System Services in a report on Wednesday, July 26th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $65.05.
Total System Services (NYSE:TSS) traded down 0.80% during midday trading on Thursday, reaching $69.48. The company’s stock had a trading volume of 1,717,696 shares. The firm has a market cap of $12.80 billion, a P/E ratio of 33.71 and a beta of 1.13. The firm has a 50 day moving average price of $65.44 and a 200 day moving average price of $58.82. Total System Services has a one year low of $46.22 and a one year high of $70.21.
Total System Services (NYSE:TSS) last released its quarterly earnings data on Tuesday, July 25th. The credit services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.80 by $0.05. Total System Services had a net margin of 8.78% and a return on equity of 25.49%. The business had revenue of $844.07 million during the quarter, compared to the consensus estimate of $842.57 million. During the same quarter in the prior year, the firm earned $0.74 EPS. The business’s revenue was up 6.2% on a year-over-year basis. Equities research analysts forecast that Total System Services will post $3.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 29th will be given a $0.13 dividend. This is a positive change from Total System Services’s previous quarterly dividend of $0.10. This represents a $0.52 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Wednesday, September 20th. Total System Services’s dividend payout ratio is 19.51%.
In related news, EVP G Sanders Griffith III sold 18,472 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $63.25, for a total value of $1,168,354.00. Following the sale, the executive vice president now directly owns 187,684 shares of the company’s stock, valued at approximately $11,871,013. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip W. Tomlinson sold 220,974 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $63.65, for a total transaction of $14,064,995.10. Following the completion of the sale, the director now directly owns 326,200 shares in the company, valued at $20,762,630. The disclosure for this sale can be found here. Insiders sold a total of 291,503 shares of company stock worth $18,332,089 over the last three months. 2.60% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of TSS. Sumitomo Mitsui Asset Management Company LTD raised its position in Total System Services by 18.1% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 14,329 shares of the credit services provider’s stock worth $766,000 after purchasing an additional 2,198 shares during the period. Canada Pension Plan Investment Board raised its position in Total System Services by 95.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 52,558 shares of the credit services provider’s stock worth $2,810,000 after purchasing an additional 25,700 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Total System Services by 3.6% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 26,559 shares of the credit services provider’s stock worth $1,420,000 after purchasing an additional 917 shares during the period. OLD National Bancorp IN purchased a new stake in Total System Services in the 1st quarter worth about $206,000. Finally, First Trust Advisors LP raised its position in Total System Services by 776.6% in the 1st quarter. First Trust Advisors LP now owns 227,346 shares of the credit services provider’s stock worth $12,154,000 after purchasing an additional 201,411 shares during the period. 76.14% of the stock is currently owned by institutional investors.
Total System Services Company Profile
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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