Iberiabank Corp bought a new stake in shares of Total System Services, Inc. (NYSE:TSS) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,573 shares of the credit services provider’s stock, valued at approximately $339,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSS. LPL Financial LLC boosted its holdings in Total System Services by 43.7% during the 3rd quarter. LPL Financial LLC now owns 18,095 shares of the credit services provider’s stock valued at $1,787,000 after acquiring an additional 5,507 shares during the period. Pacer Advisors Inc. boosted its holdings in Total System Services by 22.7% during the 3rd quarter. Pacer Advisors Inc. now owns 9,270 shares of the credit services provider’s stock valued at $915,000 after acquiring an additional 1,712 shares during the period. Kentucky Retirement Systems purchased a new position in Total System Services during the 3rd quarter valued at $459,000. Neuberger Berman Group LLC boosted its holdings in Total System Services by 41.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 268,784 shares of the credit services provider’s stock valued at $26,540,000 after acquiring an additional 79,422 shares during the period. Finally, B. Riley Wealth Management Inc. purchased a new position in Total System Services during the 3rd quarter valued at $737,000. 80.53% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TSS stock opened at $102.24 on Wednesday. Total System Services, Inc. has a twelve month low of $75.58 and a twelve month high of $102.67. The firm has a market capitalization of $17.80 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 1.79 and a beta of 1.11. The company has a debt-to-equity ratio of 1.50, a current ratio of 2.21 and a quick ratio of 2.21.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Thursday, March 21st were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Wednesday, March 20th. Total System Services’s dividend payout ratio (DPR) is currently 12.21%.
TSS has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on Total System Services in a report on Monday, January 28th. They set a “buy” rating and a $105.00 price objective for the company. Zacks Investment Research restated a “buy” rating and set a $91.00 price objective on shares of Total System Services in a report on Monday, December 31st. Nomura restated a “buy” rating on shares of Total System Services in a report on Thursday, January 31st. Goldman Sachs Group upgraded Total System Services from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $98.00 to $115.00 in a report on Wednesday, April 17th. Finally, Royal Bank of Canada boosted their price objective on Total System Services to $110.00 and gave the company an “in-line” rating in a report on Wednesday, January 30th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $100.06.
In related news, Chairman M Troy Woods sold 47,812 shares of the company’s stock in a transaction on Friday, February 8th. The stock was sold at an average price of $91.23, for a total transaction of $4,361,888.76. Following the completion of the sale, the chairman now directly owns 256,989 shares in the company, valued at approximately $23,445,106.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Dorenda K. Weaver sold 2,297 shares of the company’s stock in a transaction on Friday, February 8th. The stock was sold at an average price of $91.23, for a total value of $209,555.31. Following the sale, the chief accounting officer now owns 49,489 shares of the company’s stock, valued at $4,514,881.47. The disclosure for this sale can be found here. Insiders have sold a total of 109,640 shares of company stock valued at $10,098,506 over the last 90 days. 2.00% of the stock is currently owned by company insiders.
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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: 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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