Teacher Retirement System of Texas Boosts Stock Position in Cass Information Systems, Inc $CASS

Key Points

• Teacher Retirement System of Texas increased its stake in Cass Information Systems by 85.6% in Q4 to 85,833 shares (about 0.66% of the company), buying an additional 39,582 shares worth roughly $3.56 million.
• Cass reported a quarterly EPS beat of $0.66 vs. $0.63 consensus but posted revenue of $26.16 million versus $49.40 million expected; the stock trades around $47 with a market cap of $611.6M and a P/E of 18.01.
• The company declared a quarterly dividend of $0.32 (annualized $1.28) for a ~2.7% yield, with an ex-dividend date of June 5 and a payout ratio of about 48.7%.

Teacher Retirement System of Texas boosted its stake in shares of Cass Information Systems, Inc (NASDAQ:CASS - Free Report) by 85.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,833 shares of the business services provider's stock after buying an additional 39,582 shares during the period. Teacher Retirement System of Texas owned approximately 0.66% of Cass Information Systems worth $3,564,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CASS. Triumph Capital Management purchased a new stake in shares of Cass Information Systems in the third quarter worth $25,000. BNP Paribas Financial Markets raised its position in shares of Cass Information Systems by 50.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the business services provider's stock worth $53,000 after purchasing an additional 413 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Cass Information Systems by 1,206.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,594 shares of the business services provider's stock worth $63,000 after purchasing an additional 1,472 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Cass Information Systems by 49.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,840 shares of the business services provider's stock worth $72,000 after purchasing an additional 608 shares in the last quarter. Finally, Global X Japan Co. Ltd. grew its position in Cass Information Systems by 76.1% during the 4th quarter. Global X Japan Co. Ltd. now owns 2,226 shares of the business services provider's stock valued at $92,000 after purchasing an additional 962 shares during the last quarter. Hedge funds and other institutional investors own 59.08% of the company's stock.

Cass Information Systems Price Performance

Shares of NASDAQ:CASS opened at $47.37 on Tuesday. The company has a market cap of $611.55 million, a P/E ratio of 18.01 and a beta of 0.42. Cass Information Systems, Inc has a 1 year low of $36.07 and a 1 year high of $52.45. The stock's fifty day moving average price is $45.23 and its 200-day moving average price is $43.09.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The business services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.63 by $0.03. Cass Information Systems had a return on equity of 13.25% and a net margin of 18.08%.The company had revenue of $26.16 million for the quarter, compared to analysts' expectations of $49.40 million. On average, sell-side analysts anticipate that Cass Information Systems, Inc will post 3 earnings per share for the current year.

Cass Information Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, June 5th. Cass Information Systems's dividend payout ratio (DPR) is presently 48.67%.

Analyst Upgrades and Downgrades

CASS has been the subject of a number of analyst reports. Raymond James Financial restated an "outperform" rating and set a $50.00 price objective on shares of Cass Information Systems in a research note on Thursday, January 22nd. Weiss Ratings upgraded shares of Cass Information Systems from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, April 1st. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $50.00.

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.

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