Needham & Company LLC Begins Coverage on TSS (NASDAQ:TSSI)

Needham & Company LLC assumed coverage on shares of TSS (NASDAQ:TSSI) in a report released on Monday, MarketBeat Ratings reports. The firm set a “buy” rating and a $16.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 22.98% from the stock’s previous close.

Several other research analysts have also issued reports on TSSI. Zacks Research raised shares of TSS to a “hold” rating in a research note on Tuesday, February 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of TSS in a research note on Monday, December 29th. Finally, Loop Capital set a $15.00 price objective on shares of TSS in a report on Monday, December 1st. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.17.

TSS Trading Up 10.1%

TSSI stock opened at $13.01 on Monday. The company has a quick ratio of 1.41, a current ratio of 1.63 and a debt-to-equity ratio of 0.18. TSS has a twelve month low of $5.63 and a twelve month high of $31.94. The company has a market cap of $361.29 million, a P/E ratio of 24.55 and a beta of 2.12. The business has a fifty day moving average of $10.16 and a 200-day moving average of $11.89.

TSS (NASDAQ:TSSI) last posted its quarterly earnings results on Wednesday, March 11th. The company reported $0.41 earnings per share (EPS) for the quarter. The business had revenue of $60.91 million for the quarter. TSS had a return on equity of 38.06% and a net margin of 6.16%.

Insider Buying and Selling

In other TSS news, SVP Kieran Brennan sold 12,000 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $12.27, for a total value of $147,240.00. Following the transaction, the senior vice president owned 279,137 shares of the company’s stock, valued at approximately $3,425,010.99. This represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 18.94% of the company’s stock.

Institutional Trading of TSS

Hedge funds have recently modified their holdings of the company. California State Teachers Retirement System bought a new position in TSS during the 2nd quarter worth approximately $33,000. Bank of America Corp DE bought a new stake in TSS in the fourth quarter valued at approximately $40,000. BNP Paribas Financial Markets acquired a new stake in TSS in the second quarter worth $45,000. Ameritas Investment Partners Inc. acquired a new stake in TSS in the second quarter worth $54,000. Finally, Legal & General Group Plc bought a new position in shares of TSS during the second quarter worth $59,000.

TSS Company Profile

TSS, Inc offers planning, design, engineering, construction management, commissioning and maintenance services. It provides these services primarily for specialized facilities such as data centers, communications rooms, call centers, laboratories, trading floors, network operations centers, medical facilities and similar environments. TSS Inc, formerly known as Fortress International Group, Inc, is based in Columbia, United States.