Victory Capital Management Inc. reduced its holdings in shares of Total System Services, Inc. (NYSE:TSS) by 41.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 384,646 shares of the credit services provider’s stock after selling 269,242 shares during the quarter. Victory Capital Management Inc. owned 0.22% of Total System Services worth $49,339,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in TSS. Raymond James Financial Services Advisors Inc. purchased a new stake in Total System Services during the first quarter worth approximately $1,737,000. Great West Life Assurance Co. Can boosted its stake in shares of Total System Services by 1.8% in the first quarter. Great West Life Assurance Co. Can now owns 115,335 shares of the credit services provider’s stock valued at $10,934,000 after purchasing an additional 2,093 shares during the period. Wetherby Asset Management Inc. purchased a new position in shares of Total System Services in the first quarter valued at $208,000. Tech Square Trading LP purchased a new position in shares of Total System Services in the first quarter valued at $242,000. Finally, California State Teachers Retirement System boosted its stake in shares of Total System Services by 0.4% in the first quarter. California State Teachers Retirement System now owns 296,367 shares of the credit services provider’s stock valued at $28,158,000 after purchasing an additional 1,169 shares during the period. Institutional investors own 78.32% of the company’s stock.
Several brokerages have recently weighed in on TSS. Guggenheim downgraded shares of Total System Services from a “buy” rating to a “neutral” rating in a research note on Thursday, May 30th. Barclays upped their target price on shares of Total System Services from $146.00 to $158.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Robert W. Baird set a $148.00 target price on shares of Total System Services and gave the company a “buy” rating in a research note on Friday, July 19th. Cowen downgraded shares of Total System Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 29th. Finally, BMO Capital Markets upped their target price on shares of Total System Services to $121.00 and gave the company a “market perform” rating in a research note on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $116.18.
Total System Services (NYSE:TSS) last posted its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.06. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Total System Services had a net margin of 15.03% and a return on equity of 32.26%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.11 earnings per share. As a group, research analysts expect that Total System Services, Inc. will post 4.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.52 annualized dividend and a yield of 0.39%. Total System Services’s dividend payout ratio is presently 12.21%.
In related news, EVP Patricia A. Watson sold 13,830 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $133.63, for a total value of $1,848,102.90. Following the sale, the executive vice president now directly owns 18,716 shares of the company’s stock, valued at $2,501,019.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Walter W. Driver, Jr. sold 13,759 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $136.24, for a total transaction of $1,874,526.16. Following the completion of the sale, the director now directly owns 27,155 shares in the company, valued at $3,699,597.20. The disclosure for this sale can be found here. Insiders sold 195,587 shares of company stock worth $27,376,564 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.
About Total System Services
Total System Services, Inc provides payment processing, merchant, and related payment services to financial and nonfinancial institutions worldwide. The company operates through three segments: Issuer Solutions, Merchant Solutions, and Consumer Solutions. 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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