Korea Investment CORP lowered its position in Total System Services, Inc. (NYSE:TSS) by 17.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 80,967 shares of the credit services provider’s stock after selling 16,664 shares during the period. Korea Investment CORP’s holdings in Total System Services were worth $7,995,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fort L.P. acquired a new position in shares of Total System Services during the 2nd quarter valued at $119,000. Willingdon Wealth Management acquired a new position in shares of Total System Services during the 3rd quarter valued at $150,000. Piedmont Investment Advisors LLC acquired a new position in shares of Total System Services during the 2nd quarter valued at $159,000. CENTRAL TRUST Co lifted its position in shares of Total System Services by 187.9% during the 3rd quarter. CENTRAL TRUST Co now owns 1,647 shares of the credit services provider’s stock valued at $163,000 after acquiring an additional 1,075 shares during the period. Finally, Wetherby Asset Management Inc. acquired a new position in shares of Total System Services during the 3rd quarter valued at $207,000. Hedge funds and other institutional investors own 75.49% of the company’s stock.
TSS has been the topic of a number of research reports. Nomura boosted their target price on shares of Total System Services from $96.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, August 21st. UBS Group upgraded shares of Total System Services from a “market perform” rating to an “outperform” rating in a research report on Thursday, September 6th. Oppenheimer upgraded shares of Total System Services from a “market perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Thursday, September 6th. Zacks Investment Research downgraded shares of Total System Services from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. Finally, BMO Capital Markets initiated coverage on shares of Total System Services in a research report on Wednesday, September 26th. They set a “market perform” rating and a $94.00 target price on the stock. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $96.53.
Total System Services (NYSE:TSS) last announced its quarterly earnings results on Tuesday, October 23rd. The credit services provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.07. Total System Services had a net margin of 15.93% and a return on equity of 30.28%. The firm had revenue of $964.60 million for the quarter, compared to the consensus estimate of $950.55 million. During the same period in the prior year, the firm posted $0.88 earnings per share. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, analysts anticipate that Total System Services, Inc. will post 4.25 earnings per share for the current year.
In other news, EVP Dorenda K. Weaver sold 5,009 shares of the stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $99.00, for a total value of $495,891.00. Following the sale, the executive vice president now directly owns 44,358 shares of the company’s stock, valued at $4,391,442. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.40% of the company’s stock.
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About Total System Services
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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