Port Capital LLC Grows Holdings in Cass Information Systems (CASS)

Port Capital LLC raised its stake in Cass Information Systems (NASDAQ:CASS) by 94.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,713 shares of the business services provider’s stock after purchasing an additional 7,615 shares during the period. Port Capital LLC owned 0.13% of Cass Information Systems worth $1,023,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. BBT Capital Management LLC acquired a new position in shares of Cass Information Systems in the third quarter valued at about $298,000. OppenheimerFunds Inc. acquired a new position in shares of Cass Information Systems in the second quarter valued at about $324,000. GSA Capital Partners LLP acquired a new position in shares of Cass Information Systems in the second quarter valued at about $385,000. New England Asset Management Inc. acquired a new position in shares of Cass Information Systems in the second quarter valued at about $387,000. Finally, MetLife Investment Advisors LLC grew its stake in shares of Cass Information Systems by 31.9% in the second quarter. MetLife Investment Advisors LLC now owns 6,460 shares of the business services provider’s stock valued at $445,000 after acquiring an additional 1,562 shares in the last quarter. Hedge funds and other institutional investors own 52.68% of the company’s stock.

CASS opened at $54.98 on Friday. Cass Information Systems has a twelve month low of $45.31 and a twelve month high of $62.07. The stock has a market cap of $801.66 million, a P/E ratio of 26.73 and a beta of 0.86.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings data on Thursday, October 25th. The business services provider reported $0.51 earnings per share for the quarter. Cass Information Systems had a net margin of 19.68% and a return on equity of 13.43%. The business had revenue of $37.62 million during the quarter.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, December 4th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, December 3rd. This represents a $1.04 annualized dividend and a yield of 1.89%.

Several equities analysts recently commented on the stock. BidaskClub upgraded shares of Cass Information Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 21st. ValuEngine downgraded shares of Cass Information Systems from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th.

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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. It operates through two segments, Information Services and Banking Services. The company's services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information.

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Institutional Ownership by Quarter for Cass Information Systems (NASDAQ:CASS)

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