Palisades Hudson Asset Management L.P. Takes Position in Total System Services, Inc. (TSS)
Palisades Hudson Asset Management L.P. purchased a new position in Total System Services, Inc. (NYSE:TSS) during the second quarter, Holdings Channel reports. The institutional investor purchased 3,570 shares of the credit services provider’s stock, valued at approximately $208,000.
A number of other hedge funds have also made changes to their positions in TSS. Advisory Services Network LLC acquired a new stake in shares of Total System Services during the first quarter worth about $169,000. Pacer Advisors Inc. increased its stake in shares of 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. increased its stake in shares of 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 acquired a new stake in shares of Total System Services during the second quarter worth about $205,000. Finally, Texas Yale Capital Corp. acquired a new stake in shares of Total System Services during the second quarter worth about $205,000. 75.66% of the stock is owned by institutional investors.
Total System Services, Inc. (NYSE:TSS) opened at 64.95 on Friday. Total System Services, Inc. has a 12 month low of $46.22 and a 12 month high of $65.62. The company has a 50-day moving average price of $62.14 and a 200 day moving average price of $57.33. The firm has a market cap of $11.97 billion, a PE ratio of 31.51 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. Equities research analysts anticipate that Total System Services, Inc. will post $3.28 EPS for the current 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 0.80%. Total System Services’s dividend payout ratio is 19.51%.
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A number of analysts have recently commented on TSS shares. Zacks Investment Research upgraded Total System Services from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Wednesday, May 31st. Instinet lifted their target price on Total System Services from $61.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, June 6th. Stifel Nicolaus set a $65.00 target price on Total System Services and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) upgraded Total System Services from a “neutral” rating to a “buy” rating in a research report on Monday, May 15th. Finally, BidaskClub upgraded Total System Services from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average 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, CFO Paul M. Todd sold 4,057 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $63.50, for a total transaction of $257,619.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 291,503 shares of company stock worth $18,332,089. 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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