Marshall Wace North America L.P. Reduces Stake in Total System Services, Inc. (TSS)

Marshall Wace North America L.P. lowered its position in Total System Services, Inc. (NYSE:TSS) by 44.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 172,559 shares of the credit services provider’s stock after selling 139,307 shares during the period. Marshall Wace North America L.P. owned about 0.09% of Total System Services worth $10,009,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its position 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 buying an additional 10,701,089 shares during the last quarter. FMR LLC boosted its position 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 buying an additional 1,447,047 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of Total System Services by 71.6% in the first quarter. Point72 Asset Management L.P. now owns 2,386,830 shares of the credit services provider’s stock worth $127,600,000 after buying an additional 996,260 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Total System Services by 23.4% in the first quarter. Wellington Management Group LLP now owns 4,353,926 shares of the credit services provider’s stock worth $232,761,000 after buying an additional 824,600 shares during the last quarter. Finally, Glenview Capital Management LLC acquired a new position in shares of Total System Services during the first quarter worth about $39,167,000. Institutional investors own 75.66% of the company’s stock.

Shares of Total System Services, Inc. (NYSE:TSS) opened at 66.40 on Friday. The stock has a market capitalization of $12.23 billion, a P/E ratio of 32.22 and a beta of 1.14. The company has a 50-day moving average of $63.19 and a 200-day moving average of $57.86. Total System Services, Inc. has a 12-month low of $46.22 and a 12-month high of $67.51.

Total System Services (NYSE:TSS) last released its earnings results on Tuesday, July 25th. The credit services provider reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.05. The firm had revenue of $844.07 million for the quarter, compared to analysts’ expectations of $842.57 million. Total System Services had a return on equity of 25.49% and a net margin of 8.78%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. Equities analysts expect that Total System Services, Inc. will post $3.28 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 29th will be paid a $0.13 dividend. This is a boost from Total System Services’s previous quarterly dividend of $0.10. The ex-dividend date is Wednesday, September 20th. This represents a $0.52 annualized dividend and a yield of 0.78%. Total System Services’s payout ratio is presently 19.51%.

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TSS has been the subject of a number of recent research reports. Northcoast Research initiated coverage on shares of Total System Services in a report on Friday, June 30th. They set a “neutral” rating for the company. BMO Capital Markets reiterated an “outperform” rating and set a $67.00 price target (up from $64.00) on shares of Total System Services in a report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) upgraded shares of Total System Services from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $60.00 to $68.00 in a report on Monday, May 8th. First Analysis downgraded shares of Total System Services from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $60.00 to $63.00 in a report on Wednesday, May 3rd. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Total System Services from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Total System Services currently has a consensus rating of “Buy” and a consensus target price of $64.05.

In other Total System Services news, CFO Paul M. Todd sold 4,057 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $63.50, for a total value of $257,619.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard W. Ussery sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $59.19, for a total value of $2,841,120.00. Following the completion of the sale, the director now owns 219,968 shares in the company, valued at approximately $13,019,905.92. The disclosure for this sale can be found here. Insiders sold a total of 291,503 shares of company stock worth $18,332,089 in the last 90 days. Company insiders own 2.60% of the company’s stock.

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.