Cass Information Systems, Inc $CASS Stake Reduced by Emmett Investment Management LP

Emmett Investment Management LP trimmed its position in Cass Information Systems, Inc (NASDAQ:CASS) by 23.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 127,559 shares of the business services provider’s stock after selling 39,316 shares during the period. Cass Information Systems comprises 4.3% of Emmett Investment Management LP’s portfolio, making the stock its 10th biggest holding. Emmett Investment Management LP owned about 0.99% of Cass Information Systems worth $5,655,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Brown Advisory Inc. lifted its position in Cass Information Systems by 5,552.6% during the fourth quarter. Brown Advisory Inc. now owns 539,932 shares of the business services provider’s stock valued at $22,418,000 after purchasing an additional 530,380 shares in the last quarter. Punch & Associates Investment Management Inc. purchased a new stake in shares of Cass Information Systems in the first quarter worth $4,977,000. Acumen Wealth Advisors LLC bought a new stake in shares of Cass Information Systems during the 4th quarter valued at $4,660,000. Two Sigma Investments LP lifted its position in shares of Cass Information Systems by 1,190.2% in the third quarter. Two Sigma Investments LP now owns 71,749 shares of the business services provider’s stock valued at $2,822,000 after acquiring an additional 66,188 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of Cass Information Systems by 85.6% in the fourth quarter. Teacher Retirement System of Texas now owns 85,833 shares of the business services provider’s stock valued at $3,564,000 after acquiring an additional 39,582 shares in the last quarter. 59.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CASS shares. Piper Sandler set a $52.00 price objective on shares of Cass Information Systems and gave the company a “neutral” rating in a research report on Friday, June 12th. Raymond James Financial lifted their price target on shares of Cass Information Systems from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Weiss Ratings upgraded shares of Cass Information Systems from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, May 7th. Finally, Zacks Research raised Cass Information Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $54.00.

Cass Information Systems Trading Up 1.0%

CASS opened at $54.79 on Tuesday. The stock has a 50-day moving average of $49.91 and a 200 day moving average of $46.76. Cass Information Systems, Inc has a 12 month low of $36.07 and a 12 month high of $55.42. The firm has a market cap of $705.15 million, a P/E ratio of 19.71 and a beta of 0.42.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings data on Thursday, July 23rd. The business services provider reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.01). The company had revenue of $49.94 million during the quarter, compared to the consensus estimate of $51.02 million. Cass Information Systems had a net margin of 18.45% and a return on equity of 14.91%. On average, research analysts forecast that Cass Information Systems, Inc will post 3 earnings per share for the current fiscal year.

Cass Information Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, September 4th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.28 annualized dividend and a dividend yield of 2.3%. Cass Information Systems’s dividend payout ratio is currently 46.04%.

Cass Information Systems 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.