Lazard Asset Management LLC acquired a new position in Total System Services, Inc. (NYSE:TSS) during the fourth quarter, Holdings Channel reports. The fund acquired 4,513 shares of the credit services provider’s stock, valued at approximately $356,000.
Several other institutional investors have also recently modified their holdings of TSS. Acadian Asset Management LLC purchased a new position in shares of Total System Services in the 4th quarter worth approximately $109,000. Tower Research Capital LLC TRC grew its position in shares of Total System Services by 463.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,295 shares of the credit services provider’s stock worth $181,000 after buying an additional 1,888 shares during the last quarter. Cahaba Wealth Management Inc. purchased a new position in shares of Total System Services in the 4th quarter worth approximately $208,000. IBM Retirement Fund purchased a new position in shares of Total System Services in the 4th quarter worth approximately $212,000. Finally, ACG Wealth purchased a new position in shares of Total System Services in the 4th quarter worth approximately $220,000. 76.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on the stock. ValuEngine raised shares of Total System Services from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Barclays lifted their price objective on shares of Total System Services from $90.00 to $96.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Total System Services in a research report on Wednesday, January 24th. Nomura lifted their price objective on shares of Total System Services from $87.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Finally, Wells Fargo & Co set a $95.00 price objective on shares of Total System Services and gave the stock a “buy” rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Total System Services presently has an average rating of “Buy” and a consensus price target of $82.08.
Total System Services (NYSE:TSS) last released its quarterly earnings data on Tuesday, January 23rd. The credit services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.79 by $0.03. The business had revenue of $870.61 million for the quarter, compared to the consensus estimate of $848.20 million. Total System Services had a net margin of 11.90% and a return on equity of 26.50%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. sell-side analysts predict that Total System Services, Inc. will post 3.96 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 22nd will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Wednesday, March 21st. Total System Services’s dividend payout ratio (DPR) is currently 21.40%.
In other news, Director Philip W. Tomlinson sold 234,759 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $88.49, for a total value of $20,773,823.91. Following the sale, the director now directly owns 331,250 shares of the company’s stock, valued at approximately $29,312,312.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard W. Ussery sold 7,546 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $88.29, for a total transaction of $666,236.34. The disclosure for this sale can be found here. Insiders sold a total of 692,200 shares of company stock worth $59,978,168 over the last ninety days. Insiders own 2.60% of the company’s stock.
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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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