Teacher Retirement System of Texas Purchases 1,764 Shares of Cass Information Systems, Inc (NASDAQ:CASS)

Teacher Retirement System of Texas raised its holdings in shares of Cass Information Systems, Inc (NASDAQ:CASS) by 10.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,883 shares of the business services provider’s stock after buying an additional 1,764 shares during the period. Teacher Retirement System of Texas owned about 0.13% of Cass Information Systems worth $773,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CASS. Huntington National Bank lifted its position in Cass Information Systems by 72.9% during the fourth quarter. Huntington National Bank now owns 690 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 291 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in shares of Cass Information Systems in the 4th quarter valued at about $44,000. Global X Japan Co. Ltd. acquired a new stake in Cass Information Systems in the 1st quarter worth approximately $55,000. Copeland Capital Management LLC lifted its stake in Cass Information Systems by 56.7% during the 1st quarter. Copeland Capital Management LLC now owns 1,432 shares of the business services provider’s stock valued at $62,000 after acquiring an additional 518 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Cass Information Systems during the 4th quarter valued at approximately $114,000. 59.08% of the stock is owned by hedge funds and other institutional investors.

Cass Information Systems Stock Up 0.3%

Shares of CASS stock opened at $44.18 on Tuesday. Cass Information Systems, Inc has a fifty-two week low of $37.99 and a fifty-two week high of $47.14. The stock has a market cap of $590.24 million, a P/E ratio of 29.07 and a beta of 0.45. The business has a fifty day simple moving average of $43.03 and a 200-day simple moving average of $42.26.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings results on Thursday, April 17th. The business services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. The company had revenue of $46.41 million during the quarter, compared to analysts’ expectations of $51.49 million. Cass Information Systems had a return on equity of 8.84% and a net margin of 10.71%. On average, sell-side analysts anticipate that Cass Information Systems, Inc will post 2.62 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CASS. Wall Street Zen raised shares of Cass Information Systems from a “sell” rating to a “hold” rating in a report on Sunday. Piper Sandler reduced their price target on shares of Cass Information Systems from $47.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd.

Cass Information Systems Company 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.