Emmett Investment Management LP Reduces Holdings in Cass Information Systems, Inc $CASS

Emmett Investment Management LP decreased its position in shares of Cass Information Systems, Inc (NASDAQ:CASS) by 23.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 127,559 shares of the business services provider’s stock after selling 39,316 shares during the quarter. Cass Information Systems makes up approximately 4.3% of Emmett Investment Management LP’s portfolio, making the stock its 10th biggest position. Emmett Investment Management LP’s holdings in Cass Information Systems were worth $5,655,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Brown Advisory Inc. lifted its position in shares of 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 buying an additional 530,380 shares during the last quarter. Punch & Associates Investment Management Inc. purchased a new stake in Cass Information Systems during the 1st quarter valued at about $4,977,000. Acumen Wealth Advisors LLC acquired a new position in shares of Cass Information Systems in the fourth quarter valued at about $4,660,000. Two Sigma Investments LP increased its holdings 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 purchasing an additional 66,188 shares during the period. Finally, Teacher Retirement System of Texas raised its stake 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 worth $3,564,000 after purchasing an additional 39,582 shares during the last quarter. 59.08% of the stock is owned by institutional investors.

Cass Information Systems Price Performance

CASS opened at $54.79 on Tuesday. The firm has a fifty day moving average price of $49.91 and a 200 day moving average price of $46.76. Cass Information Systems, Inc has a 1 year low of $36.07 and a 1 year high of $55.42. The stock 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 released its quarterly earnings data on Thursday, July 23rd. The business services provider reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). Cass Information Systems had a net margin of 18.45% and a return on equity of 14.91%. The firm had revenue of $49.94 million during the quarter, compared to analysts’ expectations of $51.02 million. Equities analysts expect that Cass Information Systems, Inc will post 3 EPS for the current year.

Cass Information Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, September 4th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.3%. Cass Information Systems’s dividend payout ratio (DPR) is 46.04%.

Analyst Upgrades and Downgrades

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

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.