Total System Services (NYSE:TSS)(TSS - $128.27 - NYSE) is a leading processor of credit and debit card transactions for both banks and merchants. TSS has been a long-time holding within the Keeley dividend funds as it was originally owned in the Keeley Small Cap Dividend Value Fund when it launched in late-2009. Through growth in electronic payments, marketshare gains, and strategic acquisitions, the company grew substantially. These efforts are being capped off (or more accurately continued under a different banner) through its acquisition for stock by Global Payments (GPN - NYSE). We are kind of sorry to see this one go.
From Keeley Asset Management Corp (Trades, Portfolio)'s Keeley Mid Cap Fund second-quarter 2019 shareholder letter.
This article first appeared on GuruFocus.
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- TSS 15-Year Financial Data
- The intrinsic value of TSS
- Peter Lynch Chart of TSS