Acadian Asset Management LLC Cuts Stake in Total System Services, Inc. (TSS)

Acadian Asset Management LLC lowered its holdings in Total System Services, Inc. (NYSE:TSS) by 74.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,310 shares of the credit services provider’s stock after selling 86,195 shares during the quarter. Acadian Asset Management LLC’s holdings in Total System Services were worth $2,993,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TSS. Royal Bank of Canada grew its holdings in shares of Total System Services by 3.0% during the first quarter. Royal Bank of Canada now owns 76,180 shares of the credit services provider’s stock worth $6,572,000 after buying an additional 2,250 shares in the last quarter. DnB Asset Management AS bought a new position in shares of Total System Services during the second quarter worth about $1,693,000. IFM Investors Pty Ltd grew its holdings in shares of Total System Services by 37.7% during the second quarter. IFM Investors Pty Ltd now owns 8,317 shares of the credit services provider’s stock worth $703,000 after buying an additional 2,278 shares in the last quarter. Dalton Greiner Hartman Maher & Co. bought a new position in shares of Total System Services during the second quarter worth about $368,000. Finally, Gateway Investment Advisers LLC bought a new position in shares of Total System Services during the second quarter worth about $620,000. Hedge funds and other institutional investors own 76.92% of the company’s stock.

In other news, EVP Dorenda K. Weaver sold 5,009 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $99.00, for a total value of $495,891.00. Following the completion of the sale, the executive vice president now directly owns 44,358 shares of the company’s stock, valued at $4,391,442. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.40% of the company’s stock.

A number of research analysts recently issued reports on TSS shares. Nomura increased their price objective on Total System Services from $96.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, August 21st. Zacks Investment Research upgraded Total System Services from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a research note on Monday, July 30th. Guggenheim restated a “buy” rating and issued a $103.00 price target on shares of Total System Services in a research note on Wednesday, July 25th. Citigroup raised their price target on Total System Services from $104.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $105.00 price target on shares of Total System Services in a research note on Wednesday, July 25th. Seven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $96.11.

TSS stock opened at $91.97 on Friday. Total System Services, Inc. has a twelve month low of $71.67 and a twelve month high of $100.39. The company has a market capitalization of $16.53 billion, a price-to-earnings ratio of 28.56, a P/E/G ratio of 1.51 and a beta of 1.21. The company has a quick ratio of 2.55, a current ratio of 2.57 and a debt-to-equity ratio of 1.47.

Total System Services (NYSE:TSS) last released its quarterly earnings data on Tuesday, October 23rd. The credit services provider reported $1.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.07. Total System Services had a return on equity of 30.28% and a net margin of 15.93%. The company had revenue of $964.60 million during the quarter, compared to analysts’ expectations of $950.55 million. During the same period last year, the firm posted $0.88 earnings per share. The business’s revenue was up 13.1% on a year-over-year basis. On average, research analysts predict that Total System Services, Inc. will post 4.25 earnings per share for the current fiscal year.

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Total System Services Company Profile

Total System Services, Inc provides payment processing, merchant, and related payment services to financial and nonfinancial institutions worldwide. The company operates through three segments: Merchant Solutions, Issuer Solutions, and Netspend. 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.

Further Reading: Understanding each part of a balance sheet

Institutional Ownership by Quarter for Total System Services (NYSE:TSS)

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