Speece Thorson Capital Group Inc. Buys 7,118 Shares of Cass Information Systems, Inc $CASS

Speece Thorson Capital Group Inc. grew its stake in shares of Cass Information Systems, Inc (NASDAQ:CASS) by 2.2% during the 2nd quarter, Holdings Channel reports. The firm owned 330,036 shares of the business services provider’s stock after buying an additional 7,118 shares during the period. Cass Information Systems comprises about 2.9% of Speece Thorson Capital Group Inc.’s investment portfolio, making the stock its 15th biggest position. Speece Thorson Capital Group Inc.’s holdings in Cass Information Systems were worth $14,340,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. IFG Advisory LLC boosted its holdings in shares of Cass Information Systems by 1.3% in the 2nd quarter. IFG Advisory LLC now owns 49,912 shares of the business services provider’s stock valued at $2,169,000 after buying an additional 657 shares during the last quarter. Pinnacle Associates Ltd. raised its position in Cass Information Systems by 5.9% during the second quarter. Pinnacle Associates Ltd. now owns 79,228 shares of the business services provider’s stock worth $3,442,000 after acquiring an additional 4,400 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Cass Information Systems by 140.7% in the second quarter. Teacher Retirement System of Texas now owns 43,049 shares of the business services provider’s stock valued at $1,870,000 after acquiring an additional 25,166 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Cass Information Systems by 49.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 69,404 shares of the business services provider’s stock valued at $3,016,000 after acquiring an additional 23,047 shares during the period. Finally, AlphaQuest LLC grew its position in shares of Cass Information Systems by 156.3% in the 2nd quarter. AlphaQuest LLC now owns 6,678 shares of the business services provider’s stock valued at $290,000 after acquiring an additional 4,072 shares during the period. Institutional investors own 59.08% of the company’s stock.

Cass Information Systems Stock Up 0.1%

Cass Information Systems stock opened at $39.53 on Monday. The company’s 50-day moving average price is $40.50 and its two-hundred day moving average price is $41.76. The stock has a market cap of $522.43 million, a P/E ratio of 16.97 and a beta of 0.46. Cass Information Systems, Inc has a twelve month low of $36.07 and a twelve month high of $47.14.

Cass Information Systems (NASDAQ:CASS) last posted its earnings results on Thursday, October 23rd. The business services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.63 by $0.06. The company had revenue of $50.06 million for the quarter, compared to the consensus estimate of $50.20 million. Cass Information Systems had a return on equity of 11.72% and a net margin of 16.48%. Equities analysts anticipate that Cass Information Systems, Inc will post 2.62 earnings per share for the current fiscal year.

Cass Information Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, December 5th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.28 dividend on an annualized basis and a yield of 3.2%. This is a positive change from Cass Information Systems’s previous quarterly dividend of $0.31. Cass Information Systems’s payout ratio is currently 54.94%.

Wall Street Analysts Forecast Growth

CASS has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Cass Information Systems from a “sell” rating to a “hold” rating in a report on Monday, August 18th. Zacks Research lowered Cass Information Systems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cass Information Systems in a research report on Wednesday, October 8th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $45.00 target price (down from $47.00) on shares of Cass Information Systems in a research note on Friday, October 24th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $45.50.

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.