Westpac Banking Corp Raises Stake in Total System Services, Inc. (TSS)

Westpac Banking Corp lifted its position in Total System Services, Inc. (NYSE:TSS) by 76.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,935 shares of the credit services provider’s stock after acquiring an additional 19,080 shares during the quarter. Westpac Banking Corp’s holdings in Total System Services were worth $4,338,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Total System Services by 4.9% in the 3rd quarter. BlackRock Inc. now owns 12,662,032 shares of the credit services provider’s stock worth $1,250,251,000 after purchasing an additional 593,390 shares during the last quarter. FMR LLC lifted its holdings in shares of Total System Services by 3.0% in the 3rd quarter. FMR LLC now owns 4,240,673 shares of the credit services provider’s stock worth $418,724,000 after purchasing an additional 121,831 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Total System Services by 56.5% in the 2nd quarter. Janus Henderson Group PLC now owns 2,897,435 shares of the credit services provider’s stock worth $244,891,000 after purchasing an additional 1,045,842 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Total System Services by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,240,196 shares of the credit services provider’s stock worth $104,822,000 after purchasing an additional 15,426 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Total System Services by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 980,682 shares of the credit services provider’s stock worth $82,887,000 after purchasing an additional 4,903 shares during the last quarter. Institutional investors own 75.49% of the company’s stock.

In other Total System Services news, EVP Dorenda K. Weaver sold 5,009 shares of Total System Services stock in a transaction on Friday, September 14th. The stock was sold at an average price of $99.00, for a total transaction of $495,891.00. Following the sale, the executive vice president now owns 44,358 shares of the company’s stock, valued at approximately $4,391,442. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is owned by insiders.

Shares of Total System Services stock opened at $87.37 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.57 and a current ratio of 2.57. The firm has a market cap of $15.91 billion, a price-to-earnings ratio of 27.13, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21. Total System Services, Inc. has a 1-year low of $71.70 and a 1-year high of $100.39.

Total System Services (NYSE:TSS) last announced its earnings results on Tuesday, October 23rd. The credit services provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.07. The firm had revenue of $964.60 million for the quarter, compared to the consensus estimate of $950.55 million. Total System Services had a return on equity of 30.28% and a net margin of 15.93%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. On average, research analysts forecast that Total System Services, Inc. will post 4.25 EPS for the current fiscal year.

Several analysts recently issued reports on the company. Zacks Investment Research downgraded Total System Services from a “buy” rating to a “hold” rating in a report on Tuesday, September 18th. BMO Capital Markets assumed coverage on Total System Services in a report on Wednesday, September 26th. They issued a “market perform” rating and a $94.00 price target on the stock. Citigroup raised their price target on Total System Services from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, October 5th. Oppenheimer raised Total System Services from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Thursday, September 6th. Finally, UBS Group raised Total System Services from a “market perform” rating to an “outperform” rating in a report on Thursday, September 6th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $96.53.

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Total System Services 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: 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.

Featured Article: Cost of Equity

Institutional Ownership by Quarter for Total System Services (NYSE:TSS)

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