Needham & Company LLC Lowers TSS (NASDAQ:TSSI) Price Target to $13.00

Key Points

• Needham & Company lowered TSS’s price target from $16 to $13 while maintaining a “Buy” rating, implying approximately 8.7% upside from the reported $11.96 share price.
• TSS recently reported quarterly EPS of $0.05, missing the $0.08 consensus estimate, on revenue of $35.14 million. Analysts still hold a “Moderate Buy” consensus rating, with an average price target of $16.17.
• Insiders sold 310,000 shares worth about $4.92 million over the past three months, including substantial sales by a senior vice president and a director; insiders retain a 15.97% ownership stake.

TSS (NASDAQ:TSSI - Get Free Report) had its price objective reduced by stock analysts at Needham & Company LLC from $16.00 to $13.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's target price suggests a potential upside of 8.70% from the company's current price.

A number of other brokerages have also recently issued reports on TSSI. Wall Street Zen cut TSS from a "sell" rating to a "strong sell" rating in a report on Saturday, May 16th. Weiss Ratings lowered TSS from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, June 17th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.17.

TSS Price Performance

NASDAQ:TSSI opened at $11.96 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.99 and a current ratio of 2.18. The company has a 50-day moving average of $11.39 and a 200-day moving average of $11.70. TSS has a 52 week low of $6.87 and a 52 week high of $21.77. The company has a market capitalization of $335.72 million, a price-to-earnings ratio of 24.41 and a beta of 2.09.

TSS (NASDAQ:TSSI - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). The business had revenue of $35.14 million during the quarter. TSS had a return on equity of 25.27% and a net margin of 7.14%. As a group, equities research analysts anticipate that TSS will post 0.32 earnings per share for the current fiscal year.

Insider Activity

In other TSS news, SVP Kieran Brennan sold 10,000 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $16.00, for a total transaction of $160,000.00. Following the sale, the senior vice president directly owned 271,333 shares of the company's stock, valued at approximately $4,341,328. This represents a 3.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter H. Woodward sold 200,000 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $16.07, for a total transaction of $3,214,000.00. Following the sale, the director directly owned 983,521 shares of the company's stock, valued at approximately $15,805,182.47. The trade was a 16.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 310,000 shares of company stock valued at $4,922,000 over the last three months. 15.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TSS

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in TSS by 31.2% in the third quarter. Vanguard Group Inc. now owns 1,240,958 shares of the company's stock worth $22,474,000 after purchasing an additional 294,971 shares in the last quarter. Millennium Management LLC increased its position in TSS by 81.9% in the 4th quarter. Millennium Management LLC now owns 865,350 shares of the company's stock valued at $6,118,000 after acquiring an additional 389,497 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of TSS by 8.3% in the fourth quarter. Geode Capital Management LLC now owns 539,359 shares of the company's stock worth $3,814,000 after acquiring an additional 41,536 shares during the last quarter. Value Aligned Research Advisors LLC lifted its position in shares of TSS by 6.8% during the fourth quarter. Value Aligned Research Advisors LLC now owns 460,510 shares of the company's stock worth $3,256,000 after purchasing an additional 29,247 shares in the last quarter. Finally, UBS Group AG grew its stake in shares of TSS by 188.1% during the fourth quarter. UBS Group AG now owns 316,456 shares of the company's stock valued at $2,237,000 after purchasing an additional 206,600 shares during the last quarter.

About TSS

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. TSS Inc, formerly known as Fortress International Group, Inc, is based in Columbia, United States.

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