Allspring Global Investments Holdings LLC Makes New Investment in TSS Inc. $TSSI

Allspring Global Investments Holdings LLC acquired a new position in TSS Inc. (NASDAQ:TSSI) in the second quarter, HoldingsChannel reports. The institutional investor acquired 120,822 shares of the company’s stock, valued at approximately $3,483,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE acquired a new position in TSS in the fourth quarter worth $40,000. State of Wyoming acquired a new position in TSS in the first quarter worth $77,000. SLT Holdings LLC acquired a new position in TSS in the second quarter worth $371,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of TSS during the first quarter valued at $122,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in shares of TSS during the first quarter valued at $143,000.

Insider Activity at TSS

In related news, COO Karl Todd Marrott sold 11,100 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $16.17, for a total value of $179,487.00. Following the completion of the sale, the chief operating officer directly owned 295,575 shares in the company, valued at approximately $4,779,447.75. The trade was a 3.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel M. Chism sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $16.17, for a total value of $242,550.00. Following the completion of the sale, the chief financial officer owned 296,219 shares of the company’s stock, valued at approximately $4,789,861.23. This trade represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,925 shares of company stock valued at $1,099,233. Corporate insiders own 18.94% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TSSI. Wall Street Zen downgraded shares of TSS from a “buy” rating to a “hold” rating in a report on Monday, June 23rd. Singular Research assumed coverage on shares of TSS in a research report on Tuesday, September 16th. They issued a “buy” rating and a $20.50 price target on the stock. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of TSS in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

TSS Stock Up 4.3%

TSSI opened at $16.89 on Tuesday. The business has a 50 day moving average price of $16.45 and a 200 day moving average price of $16.94. TSS Inc. has a twelve month low of $5.63 and a twelve month high of $31.94. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.81. The firm has a market cap of $428.33 million, a P/E ratio of 46.92 and a beta of 1.73.

TSS (NASDAQ:TSSI) last posted its earnings results on Wednesday, August 6th. The company reported $0.06 earnings per share for the quarter. TSS had a return on equity of 107.01% and a net margin of 3.43%.The firm had revenue of $43.97 million during the quarter.

About TSS

TSS, Inc offers planning, design, engineering, construction management, commissioning and maintenance services. It provides these services primarily for specialized facilities such as data centers, communications rooms, call centers, laboratories, trading floors, network operations centers, medical facilities and similar environments.