Total System Services, Inc. (TSS) Upgraded at Zacks Investment Research
Total System Services, Inc. (NYSE:TSS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $74.00 price objective on the credit services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.00% from the stock’s previous close.
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. “
A number of other research firms also recently issued reports on TSS. Stifel Nicolaus downgraded shares of Total System Services from a “buy” rating to a “hold” rating and set a $69.00 price target for the company. in a research report on Tuesday. Bank of America Corporation started coverage on shares of Total System Services in a research report on Tuesday, September 12th. They set an “underperform” rating and a $64.00 price target for the company. Cowen and Company reiterated a “buy” rating and set a $67.00 price target on shares of Total System Services in a research report on Thursday, September 7th. KeyCorp reiterated an “overweight” rating on shares of Total System Services in a research report on Thursday, August 31st. Finally, Royal Bank of Canada started coverage on shares of Total System Services in a research report on Monday, August 28th. They set an “outperform” rating and a $75.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $65.15.
Total System Services (NYSE TSS) traded down 0.45% during midday trading on Tuesday, reaching $66.07. The company’s stock had a trading volume of 1,876,524 shares. Total System Services has a 52 week low of $46.22 and a 52 week high of $70.62. The firm has a market capitalization of $12.17 billion, a P/E ratio of 32.06 and a beta of 1.13. The company’s 50-day moving average is $66.25 and its 200 day moving average is $59.42.
Total System Services (NYSE:TSS) last announced its quarterly earnings data on Tuesday, July 25th. The credit services provider reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.05. The firm had revenue of $844.07 million during the quarter, compared to the consensus estimate of $842.57 million. Total System Services had a net margin of 8.78% and a return on equity of 25.49%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. Analysts expect that Total System Services will post $3.28 earnings per share for the current fiscal year.
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In other Total System Services news, CFO Paul M. Todd sold 4,057 shares of Total System Services stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $63.50, for a total value of $257,619.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP G Sanders Griffith III sold 18,472 shares of Total System Services stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $63.25, for a total transaction of $1,168,354.00. Following the completion of the sale, the executive vice president now directly owns 187,684 shares of the company’s stock, valued at $11,871,013. The disclosure for this sale can be found here. Insiders sold a total of 243,503 shares of company stock valued at $15,490,969 over the last ninety days. 2.60% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Total System Services by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 16,532,149 shares of the credit services provider’s stock worth $962,997,000 after acquiring an additional 525,686 shares during the period. Synovus Financial Corp grew its stake in Total System Services by 1.0% in the 2nd quarter. Synovus Financial Corp now owns 13,709,409 shares of the credit services provider’s stock worth $798,579,000 after acquiring an additional 134,998 shares during the period. FMR LLC grew its stake in Total System Services by 14.8% in the 1st quarter. FMR LLC now owns 11,224,948 shares of the credit services provider’s stock worth $600,086,000 after acquiring an additional 1,447,047 shares during the period. BlackRock Inc. grew its stake in Total System Services by 2,540.3% in the 1st quarter. BlackRock Inc. now owns 11,122,344 shares of the credit services provider’s stock worth $594,599,000 after acquiring an additional 10,701,089 shares during the period. Finally, State Street Corp grew its stake in Total System Services by 0.9% in the 1st quarter. State Street Corp now owns 7,038,746 shares of the credit services provider’s stock worth $376,286,000 after acquiring an additional 62,264 shares during the period. 76.13% of the stock is owned by hedge funds and other institutional investors.
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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