Bridgewater Associates LP lowered its holdings in Total System Services, Inc. (NYSE:TSS) by 11.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 20,807 shares of the credit services provider’s stock after selling 2,607 shares during the quarter. Bridgewater Associates LP’s holdings in Total System Services were worth $1,759,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in Total System Services by 6.8% during the first quarter. Wells Fargo & Company MN now owns 2,971,323 shares of the credit services provider’s stock worth $256,306,000 after acquiring an additional 190,117 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in Total System Services by 14.3% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 9,269 shares of the credit services provider’s stock worth $800,000 after acquiring an additional 1,160 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Total System Services by 23.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 50,462 shares of the credit services provider’s stock worth $4,362,000 after acquiring an additional 9,588 shares in the last quarter. Mackay Shields LLC bought a new position in Total System Services during the first quarter worth $6,861,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Total System Services by 29.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,714 shares of the credit services provider’s stock worth $3,598,000 after acquiring an additional 9,380 shares in the last quarter. Institutional investors and hedge funds own 76.49% of the company’s stock.
Several brokerages recently issued reports on TSS. UBS Group raised shares of Total System Services from a “market perform” rating to an “outperform” rating in a research note on Thursday. Oppenheimer upgraded shares of Total System Services from a “market perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a report on Thursday. Nomura upped their price objective on shares of Total System Services from $96.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, August 21st. Wells Fargo & Co restated an “outperform” rating and set a $100.00 price objective (up previously from $95.00) on shares of Total System Services in a report on Wednesday, July 25th. Finally, Guggenheim restated a “buy” rating and set a $103.00 price objective on shares of Total System Services in a report on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the stock. Total System Services presently has a consensus rating of “Buy” and an average price target of $91.64.
Shares of TSS stock opened at $98.02 on Friday. The stock has a market capitalization of $17.61 billion, a PE ratio of 30.44, a PEG ratio of 1.57 and a beta of 1.18. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.55 and a quick ratio of 2.55. Total System Services, Inc. has a one year low of $64.56 and a one year high of $99.40.
Total System Services (NYSE:TSS) last announced its earnings results on Tuesday, July 24th. The credit services provider reported $1.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The company had revenue of $956.55 million during the quarter, compared to the consensus estimate of $936.79 million. Total System Services had a net margin of 14.39% and a return on equity of 29.26%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.85 earnings per share. equities research analysts anticipate that Total System Services, Inc. will post 4.2 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Thursday, September 20th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, September 19th. This represents a $0.52 annualized dividend and a dividend yield of 0.53%. Total System Services’s dividend payout ratio is currently 16.15%.
In other news, EVP Patricia A. Watson sold 15,332 shares of the stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $93.30, for a total value of $1,430,475.60. Following the completion of the sale, the executive vice president now owns 30,743 shares in the company, valued at $2,868,321.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.40% of the company’s stock.
Total System Services Company Profile
Total System Services, Inc provides payment processing, merchant, and related payment services to financial and nonfinancial institutions worldwide. The company operates through three segments: Merchant Solutions, Issuer Solutions, and Netspend. It offers general purpose reloadable prepaid and payroll cards, demand deposit accounts, and other financial service solutions to the underbanked and other consumers and businesses.
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