Cass Information Systems, Inc $CASS Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC grew its stake in Cass Information Systems, Inc (NASDAQ:CASS) by 8.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 301,998 shares of the business services provider’s stock after purchasing an additional 23,860 shares during the period. ProShare Advisors LLC owned about 2.29% of Cass Information Systems worth $11,878,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Tributary Capital Management LLC boosted its holdings in Cass Information Systems by 92.6% during the third quarter. Tributary Capital Management LLC now owns 551,096 shares of the business services provider’s stock worth $21,675,000 after buying an additional 264,943 shares in the last quarter. CSM Advisors LLC acquired a new position in shares of Cass Information Systems in the second quarter worth about $4,045,000. Gabelli Funds LLC purchased a new stake in shares of Cass Information Systems during the 2nd quarter worth about $3,084,000. Teacher Retirement System of Texas grew its position in shares of Cass Information Systems by 140.7% during the 2nd 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 period. Finally, Envestnet Asset Management Inc. increased its stake 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 purchasing an additional 23,047 shares in the last quarter. 59.08% of the stock is owned by hedge funds and other institutional investors.

Cass Information Systems Stock Performance

NASDAQ CASS opened at $45.42 on Thursday. The business has a fifty day moving average price of $43.24 and a 200 day moving average price of $41.74. The company has a market cap of $594.09 million, a P/E ratio of 17.34 and a beta of 0.45. Cass Information Systems, Inc has a one year low of $36.07 and a one year high of $47.42.

Cass Information Systems (NASDAQ:CASS) last released its earnings results on Thursday, January 22nd. The business services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $49.89 million during the quarter, compared to analyst estimates of $49.60 million. Cass Information Systems had a net margin of 18.41% and a return on equity of 13.33%. As a group, sell-side analysts predict that Cass Information Systems, Inc will post 2.62 EPS for the current fiscal year.

Cass Information Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be issued a $0.32 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 2.8%. Cass Information Systems’s dividend payout ratio is presently 48.85%.

Wall Street Analysts Forecast Growth

CASS has been the topic of a number of recent analyst reports. Raymond James Financial reiterated an “outperform” rating and set a $50.00 price target on shares of Cass Information Systems in a research report on Thursday, January 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Cass Information Systems in a research report on Wednesday, January 21st. Finally, Zacks Research raised shares of Cass Information Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Cass Information Systems presently has an average rating of “Moderate Buy” and an average price target of $48.00.

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.