Total System Services, Inc. (TSS) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Total System Services, Inc. (NYSE:TSS) from a hold rating to a buy rating in a research note released on Tuesday. The brokerage currently has $74.00 price target on the credit services provider’s stock.
According to Zacks, “Shares of Total System have outperformed its industry year to date. The company is set to benefit from its robust NetSpend business, while the TransFirst acquisition will support its merchant acquiring business. A number of acquisitions made by it have contributed to overall growth. Its second-quarter earnings beat the Zacks Consensus Estimate and grew year over year. Following strong performance in first-half of the year, the company pulled up its 2017 earnings guidance, which instills investors' confidence. The stock has seen the Zacks Consensus Estimate for current-year earnings being revised 1.5% upward over the last 60 days. “
TSS has been the topic of a number of other reports. Northcoast Research initiated coverage on shares of Total System Services in a research note on Friday, June 30th. They issued a neutral rating on the stock. BidaskClub lowered shares of Total System Services from a buy rating to a hold rating in a research note on Saturday, June 10th. BMO Capital Markets reaffirmed an outperform rating and issued a $67.00 target price (up previously from $64.00) on shares of Total System Services in a report on Thursday, June 22nd. KeyCorp reaffirmed an overweight rating on shares of Total System Services in a report on Thursday, August 31st. Finally, Deutsche Bank AG reaffirmed a hold rating and issued a $65.00 target price (up previously from $57.00) on shares of Total System Services in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Total System Services has a consensus rating of Buy and a consensus target price of $65.15.
Shares of Total System Services (NYSE:TSS) opened at 68.81 on Tuesday. The firm has a 50-day moving average of $66.32 and a 200 day moving average of $59.51. Total System Services has a 12-month low of $46.22 and a 12-month high of $70.62. The stock has a market capitalization of $12.68 billion, a price-to-earnings ratio of 33.39 and a beta of 1.13.
Total System Services (NYSE:TSS) last posted its quarterly earnings data on Tuesday, July 25th. The credit services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The company 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 period in the previous year, the business posted $0.74 earnings per share. Equities analysts forecast that Total System Services will post $3.28 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 29th will be issued a dividend of $0.13 per share. The ex-dividend date is Wednesday, September 20th. This represents a $0.52 dividend on an annualized basis and a yield of 0.76%. This is an increase from Total System Services’s previous quarterly dividend of $0.10. Total System Services’s payout ratio is currently 25.37%.
In other Total System Services news, CFO Paul M. Todd sold 4,057 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $63.50, for a total value of $257,619.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Philip W. Tomlinson sold 220,974 shares of the company’s 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 completion of the sale, the director now directly owns 326,200 shares in the company, valued at approximately $20,762,630. The disclosure for this sale can be found here. In the last three months, insiders have sold 243,503 shares of company stock worth $15,490,969. 2.60% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Total System Services by 3.3% in the second quarter. Vanguard Group Inc. now owns 16,532,149 shares of the credit services provider’s stock valued at $962,997,000 after purchasing an additional 525,686 shares in the last quarter. Synovus Financial Corp lifted its holdings in shares of Total System Services by 1.0% in the second quarter. Synovus Financial Corp now owns 13,709,409 shares of the credit services provider’s stock valued at $798,579,000 after purchasing an additional 134,998 shares in the last quarter. FMR LLC lifted its holdings in shares of Total System Services by 14.8% in the first quarter. FMR LLC now owns 11,224,948 shares of the credit services provider’s stock valued at $600,086,000 after purchasing an additional 1,447,047 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Total System Services by 2,540.3% in the first quarter. BlackRock Inc. now owns 11,122,344 shares of the credit services provider’s stock valued at $594,599,000 after purchasing an additional 10,701,089 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Total System Services by 0.9% in the first quarter. State Street Corp now owns 7,038,746 shares of the credit services provider’s stock valued at $376,286,000 after purchasing an additional 62,264 shares in the last quarter. 76.13% 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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