Speece Thorson Capital Group Inc. Purchases 23,442 Shares of Cass Information Systems, Inc. (NASDAQ:CASS)

Speece Thorson Capital Group Inc. boosted its stake in shares of Cass Information Systems, Inc. (NASDAQ:CASS - Free Report) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 328,937 shares of the business services provider's stock after purchasing an additional 23,442 shares during the quarter. Cass Information Systems accounts for approximately 2.7% of Speece Thorson Capital Group Inc.'s holdings, making the stock its 20th biggest position. Speece Thorson Capital Group Inc. owned 2.42% of Cass Information Systems worth $13,457,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Cass Information Systems by 0.8% in the third quarter. State Street Corp now owns 319,177 shares of the business services provider's stock valued at $13,239,000 after purchasing an additional 2,466 shares in the last quarter. Barclays PLC raised its stake in shares of Cass Information Systems by 364.9% in the 3rd quarter. Barclays PLC now owns 21,938 shares of the business services provider's stock valued at $910,000 after buying an additional 17,219 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cass Information Systems by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 354,155 shares of the business services provider's stock worth $14,693,000 after acquiring an additional 13,607 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Cass Information Systems by 140.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,241 shares of the business services provider's stock valued at $964,000 after acquiring an additional 13,593 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Cass Information Systems by 30.5% in the fourth quarter. SG Americas Securities LLC now owns 6,295 shares of the business services provider's stock valued at $258,000 after acquiring an additional 1,470 shares during the period. 59.08% of the stock is owned by institutional investors.

Cass Information Systems Stock Down 1.0 %

NASDAQ:CASS traded down $0.43 during trading hours on Friday, reaching $40.63. The company had a trading volume of 69,713 shares, compared to its average volume of 42,119. The stock has a 50-day moving average of $42.17 and a two-hundred day moving average of $42.44. Cass Information Systems, Inc. has a one year low of $37.99 and a one year high of $47.14. The firm has a market capitalization of $547.08 million, a PE ratio of 29.42 and a beta of 0.49.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The business services provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. Cass Information Systems had a net margin of 9.62% and a return on equity of 8.25%. The firm had revenue of $46.41 million for the quarter, compared to analysts' expectations of $51.49 million. As a group, sell-side analysts expect that Cass Information Systems, Inc. will post 2.62 earnings per share for the current year.

Cass Information Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Tuesday, June 3rd. Cass Information Systems's payout ratio is presently 81.58%.

Analyst Ratings Changes

Separately, Piper Sandler cut their price target on shares of Cass Information Systems from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Wednesday.

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.