Total System Services, Inc. (TSS) Rating Lowered to Hold at Zacks Investment Research
Total System Services, Inc. (NYSE:TSS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “Shares of Total System have outperformed its industry year to date. The company is set to benefit from its robust NetSpend business, while the TransFirst acquisition will support its merchant acquiring business. A number of acquisitions made by it have contributed to overall growth. Its second-quarter earnings beat the Zacks Consensus Estimate and grew year over year. Following strong performance in first-half of the year, the company pulled up its 2017 earnings guidance, which instills investors' confidence. The stock has seen the Zacks Consensus Estimate for current-year earnings being revised 1.5% upward over the last 60 days. However, the company suffers from stiff competition and huge cash outlays on acquisition and investments. Further, the new rules aimed to boost consumer protections for prepaid accounts and cards are likely to hurt the company's top line, with 2018 revenue to be down by about $30–$40 million. “
A number of other research firms have also commented on TSS. Cowen and Company reaffirmed a “buy” rating and issued a $67.00 price target on shares of Total System Services in a report on Thursday, September 7th. Bank of America Corporation assumed coverage on Total System Services in a report on Tuesday, September 12th. They issued an “underperform” rating and a $64.00 price target for the company. KeyCorp reaffirmed an “overweight” rating on shares of Total System Services in a report on Thursday, August 31st. Royal Bank of Canada initiated coverage on Total System Services in a report on Monday, August 28th. They issued an “outperform” rating and a $75.00 price target for the company. Finally, BidaskClub upgraded Total System Services from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $65.15.
Shares of Total System Services (NYSE TSS) opened at 66.07 on Monday. The company’s 50-day moving average price is $66.32 and its 200 day moving average price is $59.51. The firm has a market capitalization of $12.17 billion, a PE ratio of 32.06 and a beta of 1.13. Total System Services has a 12-month low of $46.22 and a 12-month high of $70.62.
Total System Services (NYSE:TSS) last posted its quarterly earnings results on Tuesday, July 25th. The credit services provider reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.05. Total System Services had a return on equity of 25.49% and a net margin of 8.78%. The firm had revenue of $844.07 million during the quarter, compared to analyst estimates of $842.57 million. During the same period last year, the company earned $0.74 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts forecast that Total System Services will post $3.28 earnings per share for the current year.
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In other news, EVP G Sanders Griffith III sold 18,472 shares of Total System Services stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $63.25, for a total value of $1,168,354.00. Following the transaction, the executive vice president now owns 187,684 shares in the company, valued at $11,871,013. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Philip W. Tomlinson sold 220,974 shares of Total System Services stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $63.65, for a total value of $14,064,995.10. Following the completion of the transaction, the director now owns 326,200 shares in the company, valued at approximately $20,762,630. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,503 shares of company stock worth $15,490,969. Company insiders own 2.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Total System Services by 3.3% in the second quarter. Vanguard Group Inc. now owns 16,532,149 shares of the credit services provider’s stock worth $962,997,000 after purchasing an additional 525,686 shares during the last quarter. Synovus Financial Corp grew its stake in shares of Total System Services by 1.0% in the second quarter. Synovus Financial Corp now owns 13,709,409 shares of the credit services provider’s stock worth $798,579,000 after purchasing an additional 134,998 shares during the last quarter. FMR LLC grew its stake in shares of Total System Services by 14.8% in the first quarter. FMR LLC now owns 11,224,948 shares of the credit services provider’s stock worth $600,086,000 after purchasing an additional 1,447,047 shares during the last quarter. BlackRock Inc. grew its stake in shares of Total System Services by 2,540.3% in the first quarter. BlackRock Inc. now owns 11,122,344 shares of the credit services provider’s stock worth $594,599,000 after purchasing an additional 10,701,089 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Total System Services by 0.9% in the first quarter. State Street Corp now owns 7,038,746 shares of the credit services provider’s stock worth $376,286,000 after purchasing an additional 62,264 shares during the last quarter. 76.13% of the stock is currently owned by institutional investors.
About Total System Services
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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