Today: Icon Advisers Inc. Co. Invests $3,107,000 in Total System Services Inc. (TSS)

Today: Icon Advisers Inc. Co. Invests $3,107,000 in Total System Services Inc. (TSS)

Icon Advisers Inc. Co. purchased a new stake in Total System Services Inc. (NYSE:TSS) during the third quarter, Holdings Channel reports. The firm purchased 65,900 shares of the company’s stock, valued at approximately $3,107,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSS. Capital Fund Management S.A. raised its position in Total System Services by 22.1% in the second quarter. Capital Fund Management S.A. now owns 458,717 shares of the company’s stock worth $24,362,000 after buying an additional 83,088 shares during the last quarter. IBM Retirement Fund raised its position in Total System Services by 0.8% in the second quarter. IBM Retirement Fund now owns 16,786 shares of the company’s stock worth $892,000 after buying an additional 135 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in Total System Services during the second quarter worth about $11,126,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in Total System Services by 1.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 509,942 shares of the company’s stock worth $27,083,000 after buying an additional 7,621 shares during the last quarter. Finally, Polaris Greystone Financial Group LLC raised its position in Total System Services by 15.5% in the second quarter. Polaris Greystone Financial Group LLC now owns 333,497 shares of the company’s stock worth $17,712,000 after buying an additional 44,815 shares during the last quarter. 72.37% of the stock is currently owned by institutional investors.

Shares of Total System Services Inc. (NYSE:TSS) traded down 0.60% during mid-day trading on Monday, hitting $51.30. The stock had a trading volume of 395,328 shares. The firm has a market cap of $9.43 billion, a P/E ratio of 28.79 and a beta of 1.06. Total System Services Inc. has a 12-month low of $37.47 and a 12-month high of $56.69. The company has a 50 day moving average price of $49.08 and a 200 day moving average price of $50.56.

Total System Services (NYSE:TSS) last posted its earnings results on Tuesday, October 25th. The company reported $0.71 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.71. Total System Services had a return on equity of 23.57% and a net margin of 9.67%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company earned $0.78 earnings per share. The business’s revenue was up 62.0% compared to the same quarter last year. Equities analysts forecast that Total System Services Inc. will post $2.81 earnings per share for the current fiscal year.

A number of research analysts have recently issued reports on TSS shares. Robert W. Baird raised Total System Services from a “neutral” rating to an “outperform” rating and set a $60.00 target price on the stock in a report on Friday, August 12th. Citigroup Inc. dropped their target price on Total System Services from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, September 14th. Finally, Nomura reissued a “buy” rating and issued a $58.00 target price on shares of Total System Services in a report on Monday, October 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. Total System Services has an average rating of “Hold” and a consensus price target of $53.73.

In other Total System Services news, EVP Dorenda K. Weaver sold 13,781 shares of the firm’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $51.03, for a total transaction of $703,244.43. Following the transaction, the executive vice president now directly owns 43,134 shares in the company, valued at $2,201,128.02. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Philip W. Tomlinson sold 94,317 shares of the firm’s stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $48.53, for a total value of $4,577,204.01. Following the transaction, the director now owns 197,966 shares in the company, valued at $9,607,289.98. The disclosure for this sale can be found here. 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 services to financial and nonfinancial institutions. The Company’s segments include North America Services, Merchant Services, NetSpend and International Services. The Company also provides processing services, acquiring solutions, related systems and integrated support services to merchant acquirers and merchants.

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