Pioneer Investment Management Inc. Cuts Stake in Total System Services, Inc. (TSS)
Pioneer Investment Management Inc. cut its position in Total System Services, Inc. (NYSE:TSS) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 449,464 shares of the credit services provider’s stock after selling 1,750 shares during the period. Pioneer Investment Management Inc.’s holdings in Total System Services were worth $26,181,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in the company. Advisory Services Network LLC purchased a new stake in shares of Total System Services during the first quarter worth approximately $169,000. Doyle Wealth Management purchased a new stake in shares of Total System Services during the second quarter worth approximately $205,000. HL Financial Services LLC purchased a new stake in shares of Total System Services during the second quarter worth approximately $209,000. 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 in the last quarter. Finally, 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 in the last quarter. Institutional investors own 75.26% of the company’s stock.
Shares of Total System Services, Inc. (NYSE TSS) opened at 64.25 on Thursday. The firm has a market capitalization of $11.83 billion, a PE ratio of 31.30 and a beta of 1.14. The company’s 50-day moving average price is $61.02 and its 200-day moving average price is $56.75. Total System Services, Inc. has a 12-month low of $46.22 and a 12-month high of $64.94.
Total System Services (NYSE:TSS) last released its earnings results 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. Total System Services had a return on equity of 25.49% and a net margin of 8.78%. The firm had revenue of $844.07 million during the quarter, compared to analysts’ expectations of $842.57 million. During the same period in the prior year, the company earned $0.74 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts anticipate that Total System Services, Inc. will post $3.28 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 29th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.81%. This is a boost from Total System Services’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Wednesday, September 20th. Total System Services’s dividend payout ratio is presently 19.51%.
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A number of analysts have commented on the company. Wedbush assumed coverage on Total System Services in a research report on Thursday, August 3rd. They issued an “outperform” rating and a $72.00 price objective for the company. Cowen and Company reiterated an “outperform” rating and issued a $67.00 price objective on shares of Total System Services in a research report on Wednesday, July 26th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Total System Services in a research report on Thursday, July 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $69.00 price objective (up previously from $67.00) on shares of Total System Services in a research report on Wednesday, July 26th. Finally, Mizuho assumed coverage on Total System Services in a research report on Tuesday, June 27th. They issued a “neutral” rating and a $63.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $63.85.
In other news, Director Philip W. Tomlinson sold 220,974 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $63.65, for a total value of $14,064,995.10. Following the completion of the transaction, the director now directly owns 326,200 shares in the company, valued at approximately $20,762,630. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard W. Ussery sold 48,000 shares of the stock in a transaction on Monday, June 12th. The shares were sold at an average price of $59.19, for a total value of $2,841,120.00. Following the completion of the transaction, the director now owns 219,968 shares of the company’s stock, valued at $13,019,905.92. The disclosure for this sale can be found here. Insiders sold a total of 287,446 shares of company stock valued at $18,074,469 over the last quarter. 2.60% of the stock is owned by corporate insiders.
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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