Speece Thorson Capital Group Inc. Raises 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 disclosure with the Securities and Exchange Commission. The fund owned 351,073 shares of the business services provider’s stock after acquiring an additional 21,037 shares during the quarter. Cass Information Systems accounts for 2.8% of Speece Thorson Capital Group Inc.’s investment portfolio, making the stock its 17th biggest position. Speece Thorson Capital Group Inc. owned 2.68% of Cass Information Systems worth $13,808,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CASS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Cass Information Systems by 4.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,022 shares of the business services provider’s stock worth $347,000 after purchasing an additional 312 shares during the period. Jane Street Group LLC purchased a new stake in shares of Cass Information Systems during the 1st quarter worth about $848,000. Creative Planning grew its holdings in shares of Cass Information Systems by 102.9% during the 2nd quarter. Creative Planning now owns 10,311 shares of the business services provider’s stock worth $448,000 after purchasing an additional 5,228 shares during the period. Boston Partners increased its position in Cass Information Systems by 5.1% during the 2nd quarter. Boston Partners now owns 66,862 shares of the business services provider’s stock worth $2,905,000 after purchasing an additional 3,242 shares in the last quarter. Finally, Inceptionr LLC acquired a new stake in Cass Information Systems during the 2nd quarter worth approximately $285,000. Hedge funds and other institutional investors own 59.08% of the company’s stock.

Wall Street Analyst Weigh In

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

Cass Information Systems Stock Performance

CASS stock opened at $44.22 on Wednesday. The firm has a market cap of $570.88 million, a P/E 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 stock has a 50-day simple moving average of $44.28 and a 200-day simple moving average of $42.20.

Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings results on Thursday, January 22nd. The business services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $28.03 million for the quarter, compared to analyst estimates of $49.60 million. Cass Information Systems had a return on equity of 13.28% and a net margin of 18.41%. On average, equities research analysts predict that Cass Information Systems, Inc will post 2.62 EPS for the current year.

Cass Information Systems Dividend Announcement

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

About Cass Information Systems

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.