Cass Information Systems, Inc $CASS Shares Acquired by AlphaQuest LLC

AlphaQuest LLC grew its holdings in shares of Cass Information Systems, Inc (NASDAQ:CASS) by 156.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,678 shares of the business services provider’s stock after acquiring an additional 4,072 shares during the period. AlphaQuest LLC’s holdings in Cass Information Systems were worth $290,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Cass Information Systems by 0.6% in the first quarter. Vanguard Group Inc. now owns 801,473 shares of the business services provider’s stock worth $34,664,000 after purchasing an additional 4,504 shares in the last quarter. Heartland Advisors Inc. raised its holdings in shares of Cass Information Systems by 13.7% during the first quarter. Heartland Advisors Inc. now owns 473,926 shares of the business services provider’s stock valued at $20,497,000 after buying an additional 56,979 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in Cass Information Systems by 92.0% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 141,770 shares of the business services provider’s stock worth $6,132,000 after purchasing an additional 67,950 shares in the last quarter. Emmett Investment Management LP raised its holdings in Cass Information Systems by 2.7% during the first quarter. Emmett Investment Management LP now owns 93,241 shares of the business services provider’s stock worth $4,042,000 after purchasing an additional 2,426 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. raised its holdings in Cass Information Systems by 114.4% during the first quarter. Uniplan Investment Counsel Inc. now owns 90,919 shares of the business services provider’s stock worth $3,932,000 after purchasing an additional 48,516 shares in the last quarter. 59.08% of the stock is currently owned by institutional investors and hedge funds.

Cass Information Systems Stock Performance

NASDAQ CASS opened at $39.53 on Friday. The firm has a 50-day simple moving average of $40.50 and a 200 day simple moving average of $41.73. Cass Information Systems, Inc has a twelve month low of $36.07 and a twelve month high of $47.14. The stock has a market cap of $522.43 million, a PE ratio of 16.97 and a beta of 0.46.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings results on Thursday, October 23rd. The business services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.06. The firm had revenue of $50.06 million during the quarter, compared to analysts’ expectations of $50.20 million. Cass Information Systems had a net margin of 16.48% and a return on equity of 11.72%. Research analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, December 5th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from Cass Information Systems’s previous quarterly dividend of $0.31. The ex-dividend date is Friday, December 5th. Cass Information Systems’s dividend payout ratio is presently 54.94%.

Analyst Upgrades and Downgrades

CASS has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Cass Information Systems in a report on Wednesday, October 8th. Raymond James Financial reissued 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. Zacks Research downgraded shares of Cass Information Systems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 7th. Finally, Wall Street Zen raised shares of Cass Information Systems from a “sell” rating to a “hold” rating in a research report on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.