Allspring Global Investments Holdings LLC Makes New $3.48 Million Investment in TSS Inc. $TSSI

Key Points

• Allspring Global Investments Holdings LLC invested approximately $3.48 million in TSS Inc., purchasing 120,822 shares during the 2nd quarter, representing about 0.48% of the company's stock.
• Insider trading activity includes COO Karl Todd Marrott selling 11,100 shares and CFO Daniel M. Chism selling 15,000 shares, both at an average price of $16.17.
• TSS Inc. recently reported $0.06 earnings per share with a revenue of $43.97 million for the quarter, and analysts have set a consensus price target of $20.50 for the stock.

Allspring Global Investments Holdings LLC purchased a new position in shares of TSS Inc. (NASDAQ:TSSI - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 120,822 shares of the company's stock, valued at approximately $3,483,000. Allspring Global Investments Holdings LLC owned about 0.48% of TSS at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Baader Bank Aktiengesellschaft acquired a new stake in shares of TSS in the second quarter worth approximately $764,000. Goldman Sachs Group Inc. boosted its position in shares of TSS by 40.0% in the first quarter. Goldman Sachs Group Inc. now owns 60,540 shares of the company's stock worth $475,000 after acquiring an additional 17,310 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of TSS in the first quarter worth approximately $122,000. XTX Topco Ltd acquired a new stake in shares of TSS in the first quarter worth approximately $517,000. Finally, Victory Capital Management Inc. boosted its position in shares of TSS by 414.9% in the first quarter. Victory Capital Management Inc. now owns 53,447 shares of the company's stock worth $420,000 after acquiring an additional 43,067 shares during the last quarter.

Insider Buying and Selling

In other news, COO Karl Todd Marrott sold 11,100 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $16.17, for a total transaction of $179,487.00. Following the completion of the sale, the chief operating officer owned 295,575 shares of the company's stock, valued at approximately $4,779,447.75. This trade represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel M. Chism sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $16.17, for a total transaction of $242,550.00. Following the sale, the chief financial officer directly owned 296,219 shares of the company's stock, valued at $4,789,861.23. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,925 shares of company stock valued at $1,099,233 in the last three months. Corporate insiders own 18.94% of the company's stock.

TSS Trading Up 4.3%

TSSI opened at $16.89 on Tuesday. The firm has a market capitalization of $428.33 million, a P/E ratio of 46.92 and a beta of 1.73. The firm's 50 day moving average is $16.45 and its 200-day moving average is $16.94. TSS Inc. has a 52-week low of $5.63 and a 52-week high of $31.94. The company has a quick ratio of 0.65, a current ratio of 0.81 and a debt-to-equity ratio of 2.05.

TSS (NASDAQ:TSSI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter. The company had revenue of $43.97 million for the quarter. TSS had a net margin of 3.43% and a return on equity of 107.01%.

Analysts Set New Price Targets

Several research firms recently issued reports on TSSI. Singular Research began coverage on shares of TSS in a research report on Tuesday, September 16th. They issued a "buy" rating and a $20.50 target price on the stock. Wall Street Zen cut shares of TSS from a "buy" rating to a "hold" rating in a research report on Monday, June 23rd. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of TSS in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, TSS presently has a consensus rating of "Moderate Buy" and an average price target of $20.50.

TSS Profile

TSS, Inc offers planning, design, engineering, construction management, commissioning and maintenance services. It provides these services primarily for specialized facilities such as data centers, communications rooms, call centers, laboratories, trading floors, network operations centers, medical facilities and similar environments.

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