Municipal Employees Retirement System of Michigan Maintains Position in Total System Services, Inc. (TSS)
Municipal Employees Retirement System of Michigan continued to hold its stake in Total System Services, Inc. (NYSE:TSS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,370 shares of the credit services provider’s stock at the end of the second quarter. Municipal Employees Retirement System of Michigan’s holdings in Total System Services were worth $313,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the stock. Advisory Services Network LLC bought a new stake in Total System Services during the first quarter worth about $169,000. Pacer Advisors Inc. raised its stake in Total System Services by 3.4% in the first quarter. Pacer Advisors Inc. now owns 3,597 shares of the credit services provider’s stock worth $192,000 after buying an additional 119 shares during the last quarter. Doyle Wealth Management bought a new stake in Total System Services during the second quarter worth about $205,000. OLD National Bancorp IN bought a new stake in Total System Services during the first quarter worth about $206,000. Finally, Ameritas Investment Partners Inc. bought a new stake in Total System Services during the first quarter worth about $211,000. 76.12% of the stock is currently owned by hedge funds and other institutional investors.
Total System Services, Inc. (NYSE:TSS) opened at 67.77 on Wednesday. The firm has a 50-day moving average price of $63.19 and a 200 day moving average price of $57.86. The firm has a market capitalization of $12.49 billion, a P/E ratio of 32.88 and a beta of 1.14. Total System Services, Inc. has a one year low of $46.22 and a one year high of $67.82.
Total System Services (NYSE:TSS) last released its quarterly earnings results on Tuesday, July 25th. The credit services provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.05. The company had revenue of $844.07 million during the quarter, compared to analysts’ expectations of $842.57 million. Total System Services had a net margin of 8.75% and a return on equity of 20.93%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 earnings per share. Equities research analysts anticipate that Total System Services, Inc. will post $3.28 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 29th will be issued a dividend of $0.13 per share. This is a boost from Total System Services’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Wednesday, September 20th. This represents a $0.52 annualized dividend and a yield of 0.77%. Total System Services’s dividend payout ratio is presently 19.51%.
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A number of research firms recently issued reports on TSS. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Total System Services in a research note on Thursday, July 27th. Wedbush began coverage on Total System Services in a research note on Thursday, August 3rd. They issued an “outperform” rating and a $72.00 target price on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $67.00 target price (up previously from $64.00) on shares of Total System Services in a research note on Thursday, June 22nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $67.00 target price (up previously from $65.00) on shares of Total System Services in a research note on Thursday, July 13th. Finally, First Analysis lowered Total System Services from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $60.00 to $63.00 in a research note on Wednesday, May 3rd. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $64.60.
In related news, EVP G Sanders Griffith III sold 18,472 shares of the stock in a transaction on Friday, July 28th. The shares were sold at an average price of $63.25, for a total transaction of $1,168,354.00. Following the completion of the transaction, the executive vice president now owns 187,684 shares in the company, valued at $11,871,013. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard W. Ussery sold 48,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $59.19, for a total transaction of $2,841,120.00. Following the transaction, the director now owns 219,968 shares of the company’s stock, valued at approximately $13,019,905.92. The disclosure for this sale can be found here. Insiders have sold 291,503 shares of company stock valued at $18,332,089 in the last 90 days. 2.60% of the stock is currently owned by corporate insiders.
Total System Services Company Profile
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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