Speece Thorson Capital Group Inc. Grows Holdings in Cass Information Systems, Inc $CASS

Speece Thorson Capital Group Inc. boosted its position in Cass Information Systems, Inc (NASDAQ:CASS) by 6.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 351,073 shares of the business services provider’s stock after buying an additional 21,037 shares during the quarter. Cass Information Systems accounts for approximately 2.8% of Speece Thorson Capital Group Inc.’s holdings, making the stock its 17th biggest holding. Speece Thorson Capital Group Inc.’s holdings in Cass Information Systems were worth $13,808,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Cass Information Systems by 2.0% during the third quarter. Vanguard Group Inc. now owns 815,234 shares of the business services provider’s stock valued at $32,063,000 after acquiring an additional 15,882 shares in the last quarter. Tributary Capital Management LLC lifted its stake in shares of Cass Information Systems by 92.6% in the third quarter. Tributary Capital Management LLC now owns 551,096 shares of the business services provider’s stock worth $21,675,000 after acquiring an additional 264,943 shares in the last quarter. Fenimore Asset Management Inc lifted its stake in shares of Cass Information Systems by 0.3% in the third quarter. Fenimore Asset Management Inc now owns 340,544 shares of the business services provider’s stock worth $13,394,000 after acquiring an additional 1,020 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Cass Information Systems by 8.6% in the third quarter. ProShare Advisors LLC now owns 301,998 shares of the business services provider’s stock valued at $11,878,000 after purchasing an additional 23,860 shares during the last quarter. Finally, Emmett Investment Management LP boosted its holdings in Cass Information Systems by 14.9% in the third quarter. Emmett Investment Management LP now owns 134,995 shares of the business services provider’s stock valued at $5,286,000 after purchasing an additional 17,520 shares during the last quarter. 59.08% of the stock is owned by hedge funds and other institutional investors.

Cass Information Systems Price Performance

CASS stock opened at $44.22 on Wednesday. The firm has a market cap of $570.88 million, a price-to-earnings ratio of 16.88 and a beta of 0.44. Cass Information Systems, Inc has a 1-year low of $36.07 and a 1-year high of $47.42. The firm has a fifty day moving average price of $44.28 and a two-hundred day moving average price of $42.20.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings results on Thursday, January 22nd. The business services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. Cass Information Systems had a net margin of 18.41% and a return on equity of 13.28%. The company had revenue of $28.03 million for the quarter, compared to the consensus estimate of $49.60 million. As a group, analysts expect that Cass Information Systems, Inc will post 2.62 EPS for the current fiscal year.

Cass Information Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Tuesday, March 3rd were paid a dividend of $0.32 per share. The ex-dividend date was Tuesday, March 3rd. This represents a $1.28 annualized dividend and a yield of 2.9%. Cass Information Systems’s dividend payout ratio is 48.85%.

Analyst Upgrades and Downgrades

CASS has been the topic of several analyst reports. Raymond James Financial restated an “outperform” rating and set a $50.00 price objective on shares of Cass Information Systems in a report on Thursday, January 22nd. Zacks Research upgraded Cass Information Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Weiss Ratings downgraded shares of Cass Information Systems from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 6th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Cass Information Systems presently has an average rating of “Moderate Buy” and a consensus price target of $48.00.

Cass Information Systems Company Profile

Cass Information Systems, Inc provides payment and information processing services to manufacturing, distribution, and retail enterprises in the United States. The company operates through two segments, Information Services and Banking Services. Its services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information. The company also processes and pays facility-related invoices, such as electricity, gas, waste, and telecommunications expenses; and provides telecom expense management solutions, as well as church management software solution and on-line platform to provide generosity services for faith-based and non-profit organizations.