GHP Investment Advisors Inc. Sells 8,385 Shares of Cass Information Systems, Inc. (NASDAQ:CASS)

GHP Investment Advisors Inc. reduced its position in shares of Cass Information Systems, Inc. (NASDAQ:CASS) by 27.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,310 shares of the business services provider’s stock after selling 8,385 shares during the quarter. GHP Investment Advisors Inc. owned approximately 0.16% of Cass Information Systems worth $894,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its holdings in shares of Cass Information Systems by 2.6% during the second quarter. Commonwealth Equity Services LLC now owns 32,147 shares of the business services provider’s stock worth $1,288,000 after purchasing an additional 808 shares during the period. Tributary Capital Management LLC grew its position in shares of Cass Information Systems by 0.3% in the 2nd quarter. Tributary Capital Management LLC now owns 302,577 shares of the business services provider’s stock worth $12,124,000 after buying an additional 912 shares during the last quarter. Ellsworth Advisors LLC increased its stake in shares of Cass Information Systems by 9.4% during the second quarter. Ellsworth Advisors LLC now owns 10,809 shares of the business services provider’s stock valued at $433,000 after buying an additional 930 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Cass Information Systems by 11.1% during the first quarter. BNP Paribas Financial Markets now owns 11,164 shares of the business services provider’s stock valued at $538,000 after buying an additional 1,112 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Cass Information Systems by 47.1% during the first quarter. Janney Montgomery Scott LLC now owns 6,546 shares of the business services provider’s stock valued at $315,000 after acquiring an additional 2,097 shares in the last quarter. Institutional investors own 59.08% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler reissued an “overweight” rating and set a $44.00 price objective (down from $47.00) on shares of Cass Information Systems in a research report on Monday, July 22nd.

Cass Information Systems Price Performance

Shares of CASS opened at $41.99 on Friday. Cass Information Systems, Inc. has a one year low of $35.50 and a one year high of $50.25. The company has a 50-day simple moving average of $41.43 and a two-hundred day simple moving average of $43.25. The firm has a market capitalization of $572.32 million, a PE ratio of 19.17 and a beta of 0.71.

Cass Information Systems (NASDAQ:CASS) last released its earnings results on Thursday, July 18th. The business services provider reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21). The firm had revenue of $48.59 million during the quarter, compared to analysts’ expectations of $50.00 million. Cass Information Systems had a net margin of 13.84% and a return on equity of 12.26%. Analysts expect that Cass Information Systems, Inc. will post 1.86 EPS for the current fiscal year.

Cass Information Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, September 3rd were paid a $0.30 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.20 annualized dividend and a dividend yield of 2.86%. Cass Information Systems’s payout ratio is 54.79%.

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.