Toronto Dominion Bank lowered its position in Total System Services, Inc. (NYSE:TSS) by 14.8% in the second quarter, HoldingsChannel reports. The fund owned 96,512 shares of the credit services provider’s stock after selling 16,820 shares during the quarter. Toronto Dominion Bank’s holdings in Total System Services were worth $12,376,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the business. Alpine Associates Management Inc. acquired a new position in shares of Total System Services during the 2nd quarter worth about $93,509,000. Bank of New York Mellon Corp boosted its position in shares of Total System Services by 45.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,710,823 shares of the credit services provider’s stock worth $219,447,000 after purchasing an additional 533,054 shares during the period. FIL Ltd boosted its position in shares of Total System Services by 326.9% during the 1st quarter. FIL Ltd now owns 669,480 shares of the credit services provider’s stock worth $63,608,000 after purchasing an additional 512,668 shares during the period. Carlson Capital L P purchased a new position in shares of Total System Services during the 2nd quarter worth approximately $57,722,000. Finally, ARP Americas LP purchased a new position in shares of Total System Services during the 2nd quarter worth approximately $52,842,000. Institutional investors and hedge funds own 78.66% of the company’s stock.
A number of research firms have issued reports on TSS. Guggenheim lowered shares of Total System Services from a “buy” rating to a “neutral” rating in a report on Thursday, May 30th. BMO Capital Markets raised their price objective on shares of Total System Services to $121.00 and gave the stock a “market perform” rating in a research report on Thursday, May 30th. Cowen downgraded shares of Total System Services from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 29th. Robert W. Baird set a $148.00 target price on shares of Total System Services and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Barclays raised their price objective on shares of Total System Services from $146.00 to $158.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $116.18.
In related news, CEO M Troy Woods sold 141,236 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $141.11, for a total value of $19,929,811.96. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Dorenda K. Weaver sold 12,576 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $140.49, for a total value of $1,766,802.24. The disclosure for this sale can be found here. Insiders have sold 195,587 shares of company stock valued at $27,376,564 over the last ninety days. Insiders own 2.00% of the company’s stock.
Shares of Total System Services stock traded down $0.36 during trading on Friday, hitting $135.48. 1,003,896 shares of the stock were exchanged, compared to its average volume of 1,008,250. The stock’s fifty day moving average is $131.96 and its 200 day moving average is $115.39. The stock has a market cap of $23.73 billion, a PE ratio of 31.80, a P/E/G ratio of 2.38 and a beta of 0.86. The company has a debt-to-equity ratio of 1.69, a quick ratio of 2.47 and a current ratio of 2.47. Total System Services, Inc. has a 12 month low of $75.58 and a 12 month high of $142.30.
Total System Services (NYSE:TSS) last announced its earnings results on Wednesday, July 31st. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.06. Total System Services had a net margin of 15.03% and a return on equity of 32.26%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the firm posted $1.11 EPS. Total System Services’s revenue was up 2.8% compared to the same quarter last year. Sell-side analysts anticipate that Total System Services, Inc. will post 4.64 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Thursday, September 12th. Total System Services’s dividend payout ratio is presently 12.21%.
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: Issuer Solutions, Merchant Solutions, and Consumer Solutions. 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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