Total System Services (NYSE: TSS) received a Buy rating and a $110 price target from Oppenheimer analyst Glenn Greene yesterday. The company’s shares closed yesterday at $96.52, close to its 52-week high of $98.27.
Greene wrote:
“We regret being overly conservative on TSS over the past two years. That said, we remain optimistic regarding TSS’s growth/profitability outlook, and improving business mix going forward. Accordingly, we upgrade the shares to Outperform (from $110 PT. Organic Issuer growth remains strong (combination of SS client AOF and transaction growth and value-added services) and appears poised to potentially accelerate in CY19/CY20 given its robust late-stage business pipeline. Merchant organic growth has accelerated to low double digits, which we suspect persists going forward. Despite the anticipated/modeled CFPB headwind (still uncertain) in FY19, underlying Consumer growth remains strong. Granted our timing isn’t ideal, but we prefer to be on the right side of TSS’s likely continued strong momentum.”
According to TipRanks.com, Greene is a top 25 analyst with an average return of 22.4% and a 85.7% success rate. Greene covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Global Payments Inc.
Currently, the analyst consensus on Total System Services is a Strong Buy with an average price target of $103.31, implying a 7.0% upside from current levels. In a report issued on August 21, Nomura also maintained a Buy rating on the stock with a $107 price target.
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The company has a one-year high of $98.27 and a one-year low of $64.56. Currently, Total System Services has an average volume of 1.19M.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock. Last month, Patricia Watson, the Senior EVP and CIO of TSS sold 15,332 shares for a total of $1,430,422.
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Total System Services, Inc. provides electronic payment processing services to banks and other financial institutions. It operates through the following segments: Issuer Solutions, Merchant Solutions, Netspend, and Corporate Administration and Other.
