M&T Bank Corp grew its holdings in shares of TSYS (NYSE:TSS) by 12.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,164 shares of the credit services provider’s stock after buying an additional 1,600 shares during the quarter. M&T Bank Corp’s holdings in TSYS were worth $1,222,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC purchased a new position in shares of TSYS during the 1st quarter valued at approximately $337,000. Massachusetts Financial Services Co. MA boosted its stake in shares of TSYS by 0.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 993,722 shares of the credit services provider’s stock valued at $85,719,000 after buying an additional 8,565 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of TSYS by 0.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 258,111 shares of the credit services provider’s stock valued at $22,265,000 after buying an additional 686 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of TSYS by 8.6% during the 1st quarter. Victory Capital Management Inc. now owns 40,443 shares of the credit services provider’s stock valued at $3,489,000 after buying an additional 3,217 shares during the last quarter. Finally, Parametrica Management Ltd purchased a new position in shares of TSYS during the 1st quarter valued at approximately $217,000. Institutional investors own 77.35% of the company’s stock.
Several equities analysts have recently commented on TSS shares. Credit Suisse Group increased their target price on TSYS from $87.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, April 25th. Wells Fargo set a $95.00 target price on TSYS and gave the company a “buy” rating in a research note on Wednesday, January 24th. Robert W. Baird raised their price objective on TSYS from $96.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 25th. Zacks Investment Research upgraded TSYS from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a research note on Thursday, April 19th. Finally, KeyCorp restated a “buy” rating and set a $92.00 price objective (up from $85.00) on shares of TSYS in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $88.05.
Shares of TSYS opened at $86.64 on Friday, according to Marketbeat Ratings. TSYS has a 1-year low of $57.53 and a 1-year high of $90.74. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $15.73 billion, a price-to-earnings ratio of 26.91, a P/E/G ratio of 1.43 and a beta of 1.13.
TSYS (NYSE:TSS) last issued its earnings results on Tuesday, April 24th. The credit services provider reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.13. TSYS had a return on equity of 28.22% and a net margin of 13.15%. The firm had revenue of $987.20 million for the quarter, compared to analyst estimates of $910.10 million. During the same period last year, the company earned $0.82 earnings per share. The firm’s revenue for the quarter was down 16.6% on a year-over-year basis. sell-side analysts anticipate that TSYS will post 4.16 EPS for the current fiscal year.
In other news, CAO Dorenda K. Weaver sold 24,160 shares of the firm’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $90.11, for a total transaction of $2,177,057.60. Following the transaction, the chief accounting officer now directly owns 54,969 shares of the company’s stock, valued at $4,953,256.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Philip W. Tomlinson sold 234,759 shares of the firm’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 transaction, the director now directly owns 331,250 shares in the company, valued at $29,312,312.50. The disclosure for this sale can be found here. Insiders sold 344,078 shares of company stock worth $30,425,345 over the last ninety days. 2.40% of the stock is owned by corporate insiders.
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.
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