Envestnet Asset Management Inc. Increases Holdings in Cass Information Systems, Inc $CASS

Envestnet Asset Management Inc. increased its holdings in Cass Information Systems, Inc (NASDAQ:CASS) by 49.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,404 shares of the business services provider’s stock after acquiring an additional 23,047 shares during the quarter. Envestnet Asset Management Inc. owned about 0.52% of Cass Information Systems worth $3,016,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Cass Information Systems by 0.6% in the first quarter. Vanguard Group Inc. now owns 801,473 shares of the business services provider’s stock worth $34,664,000 after buying an additional 4,504 shares during the period. Heartland Advisors Inc. raised its position in shares of Cass Information Systems by 13.7% in the 1st quarter. Heartland Advisors Inc. now owns 473,926 shares of the business services provider’s stock worth $20,497,000 after acquiring an additional 56,979 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Cass Information Systems by 92.0% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 141,770 shares of the business services provider’s stock valued at $6,132,000 after purchasing an additional 67,950 shares during the period. Emmett Investment Management LP lifted its stake in shares of Cass Information Systems by 2.7% in the 1st quarter. Emmett Investment Management LP now owns 93,241 shares of the business services provider’s stock valued at $4,042,000 after purchasing an additional 2,426 shares during the period. Finally, Uniplan Investment Counsel Inc. boosted its position in shares of Cass Information Systems by 114.4% during the first quarter. Uniplan Investment Counsel Inc. now owns 90,919 shares of the business services provider’s stock valued at $3,932,000 after purchasing an additional 48,516 shares in the last quarter. Institutional investors own 59.08% of the company’s stock.

Cass Information Systems Trading Down 0.9%

NASDAQ:CASS opened at $41.29 on Friday. The company has a market cap of $540.24 million, a PE ratio of 17.72 and a beta of 0.45. The company has a 50 day simple moving average of $39.98 and a two-hundred day simple moving average of $41.76. Cass Information Systems, Inc has a 12 month low of $36.07 and a 12 month high of $47.00.

Cass Information Systems (NASDAQ:CASS) last issued its quarterly earnings data on Thursday, October 23rd. The business services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.06. Cass Information Systems had a net margin of 16.48% and a return on equity of 11.72%. The firm had revenue of $54.01 million for the quarter, compared to analysts’ expectations of $50.20 million. Research analysts forecast that Cass Information Systems, Inc will post 2.62 earnings per share for the current year.

Cass Information Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, December 5th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.1%. This is a positive change from Cass Information Systems’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Friday, December 5th. Cass Information Systems’s dividend payout ratio is currently 54.94%.

Analyst Ratings Changes

A number of analysts have recently commented on CASS shares. Weiss Ratings restated a “hold (c)” rating on shares of Cass Information Systems in a report on Wednesday, October 8th. Zacks Research lowered shares of Cass Information Systems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 7th. Raymond James Financial restated an “outperform” rating and issued a $45.00 price objective (down previously from $47.00) on shares of Cass Information Systems in a report on Friday, October 24th. Finally, Wall Street Zen upgraded shares of Cass Information Systems from a “sell” rating to a “hold” rating in a report on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Cass Information Systems presently has an average rating of “Hold” and an average target price of $45.50.

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.