California Public Employees Retirement System reduced its holdings in shares of Cass Information Systems, Inc (NASDAQ:CASS) by 4.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,900 shares of the business services provider’s stock after selling 500 shares during the quarter. California Public Employees Retirement System owned 0.11% of Cass Information Systems worth $781,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Cass Information Systems by 3.8% during the second quarter. Vanguard Group Inc. now owns 505,761 shares of the business services provider’s stock worth $33,198,000 after buying an additional 18,387 shares during the period. Northern Trust Corp grew its stake in Cass Information Systems by 3.3% during the second quarter. Northern Trust Corp now owns 195,796 shares of the business services provider’s stock worth $12,852,000 after buying an additional 6,277 shares during the period. Menta Capital LLC grew its stake in Cass Information Systems by 79.2% during the second quarter. Menta Capital LLC now owns 9,514 shares of the business services provider’s stock worth $624,000 after buying an additional 4,206 shares during the period. New York State Common Retirement Fund grew its stake in Cass Information Systems by 3.1% during the second quarter. New York State Common Retirement Fund now owns 16,464 shares of the business services provider’s stock worth $1,081,000 after buying an additional 499 shares during the period. Finally, Nationwide Fund Advisors grew its stake in Cass Information Systems by 25.0% during the second quarter. Nationwide Fund Advisors now owns 16,875 shares of the business services provider’s stock worth $1,108,000 after buying an additional 3,372 shares during the period. Institutional investors own 50.64% of the company’s stock.

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Shares of Cass Information Systems, Inc (NASDAQ CASS) opened at $64.41 on Thursday. Cass Information Systems, Inc has a 52 week low of $58.55 and a 52 week high of $74.83. The stock has a market cap of $724.25, a P/E ratio of 27.96 and a beta of 1.18.

Cass Information Systems (NASDAQ:CASS) last announced its earnings results on Thursday, October 26th. The business services provider reported $0.61 earnings per share for the quarter. The business had revenue of $34.30 million during the quarter. Cass Information Systems had a net margin of 19.71% and a return on equity of 12.05%.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, December 5th will be paid a $0.24 dividend. The ex-dividend date is Monday, December 4th. This is an increase from Cass Information Systems’s previous quarterly dividend of $0.21. This represents a $0.96 annualized dividend and a dividend yield of 1.49%. Cass Information Systems’s dividend payout ratio is 39.66%.

Cass Information Systems declared that its Board of Directors has authorized a stock repurchase plan on Thursday, October 26th that permits the company to repurchase 500,000 shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Separately, BidaskClub downgraded shares of Cass Information Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th.

About Cass Information Systems

Cass Information Systems, Inc (Cass) is a provider of payment and information processing services to manufacturing, distribution and retail enterprises across the United States with operating locations in Missouri, Ohio, Massachusetts, South Carolina and Florida. The Company provides transportation invoice rating, payment processing, auditing, accounting and transportation information.

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Institutional Ownership by Quarter for Cass Information Systems (NASDAQ:CASS)

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