Stone Ridge Asset Management LLC Acquires 41,000 Shares of Total System Services, Inc. (NYSE:TSS)

Stone Ridge Asset Management LLC raised its holdings in Total System Services, Inc. (NYSE:TSS) by 185.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 63,083 shares of the credit services provider’s stock after buying an additional 41,000 shares during the quarter. Stone Ridge Asset Management LLC’s holdings in Total System Services were worth $8,091,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Coastal Investment Advisors Inc. bought a new stake in shares of Total System Services in the 2nd quarter worth approximately $26,000. Berman Capital Advisors LLC grew its position in shares of Total System Services by 119.6% in the 1st quarter. Berman Capital Advisors LLC now owns 325 shares of the credit services provider’s stock worth $30,000 after buying an additional 177 shares during the last quarter. Icon Wealth Partners LLC bought a new stake in shares of Total System Services in the 1st quarter worth approximately $32,000. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Total System Services in the 1st quarter worth approximately $33,000. Finally, Pittenger & Anderson Inc. bought a new stake in shares of Total System Services in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 74.03% of the company’s stock.

A number of brokerages have recently weighed in on TSS. BMO Capital Markets lifted their price objective on Total System Services to $121.00 and gave the stock a “market perform” rating in a research report on Thursday, May 30th. Guggenheim lowered Total System Services from a “buy” rating to a “neutral” rating in a research report on Thursday, May 30th. Cowen lowered Total System Services from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 29th. Robert W. Baird set a $148.00 price objective on Total System Services and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, ValuEngine upgraded Total System Services from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $115.67.

Shares of TSS traded down $3.59 on Friday, reaching $127.45. The stock had a trading volume of 687,546 shares, compared to its average volume of 1,110,815. The firm has a market capitalization of $23.24 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. The company has a debt-to-equity ratio of 1.69, a quick ratio of 2.47 and a current ratio of 2.47. The company has a 50-day simple moving average of $130.95 and a 200-day simple moving average of $111.16. Total System Services, Inc. has a 12-month low of $75.58 and a 12-month high of $138.66.

Total System Services (NYSE:TSS) last released its earnings results on Wednesday, July 31st. The credit services provider reported $1.27 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.06. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Total System Services had a return on equity of 32.26% and a net margin of 15.03%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.11 EPS. On average, analysts expect that Total System Services, Inc. will post 4.65 EPS for the current fiscal year.

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

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