Teacher Retirement System of Texas purchased a new stake in Cass Information Systems (NASDAQ:CASS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,289 shares of the business services provider’s stock, valued at approximately $250,000.
A number of other institutional investors also recently modified their holdings of the business. WCM Investment Management CA boosted its holdings in Cass Information Systems by 172.7% in the 4th quarter. WCM Investment Management CA now owns 235,406 shares of the business services provider’s stock valued at $13,703,000 after purchasing an additional 149,082 shares during the period. Enterprise Financial Services Corp boosted its holdings in Cass Information Systems by 6.9% in the 4th quarter. Enterprise Financial Services Corp now owns 31,357 shares of the business services provider’s stock valued at $1,825,000 after purchasing an additional 2,032 shares during the period. Riverbridge Partners LLC boosted its holdings in Cass Information Systems by 6.5% in the 4th quarter. Riverbridge Partners LLC now owns 379,039 shares of the business services provider’s stock valued at $22,064,000 after purchasing an additional 23,016 shares during the period. SG Americas Securities LLC bought a new stake in Cass Information Systems in the 4th quarter valued at $109,000. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Cass Information Systems by 22.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 52,631 shares of the business services provider’s stock valued at $3,064,000 after purchasing an additional 9,593 shares during the period. 53.32% of the stock is owned by hedge funds and other institutional investors.
Separately, BidaskClub raised shares of Cass Information Systems from a “sell” rating to a “hold” rating in a report on Saturday, February 10th.
Cass Information Systems (NASDAQ:CASS) opened at $58.21 on Monday. The company has a market cap of $715.21, a PE ratio of 26.81 and a beta of 1.20. Cass Information Systems has a 1-year low of $54.37 and a 1-year high of $69.86.
Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.58 EPS for the quarter. The company had revenue of $35.05 million during the quarter. Cass Information Systems had a net margin of 18.49% and a return on equity of 12.14%.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Monday, March 5th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Friday, March 2nd. Cass Information Systems’s payout ratio is 47.50%.
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About Cass Information Systems
Cass Information Systems, Inc (Cass) is a provider of payment and information processing services to manufacturing, distribution and retail enterprises across the United States with operating locations in Missouri, Ohio, Massachusetts, South Carolina and Florida. The Company provides transportation invoice rating, payment processing, auditing, accounting and transportation information.
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