Cass Information Systems, Inc. (NASDAQ:CASS) Shares Purchased by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD raised its stake in Cass Information Systems, Inc. (NASDAQ:CASS – Free Report) by 30.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,291 shares of the business services provider’s stock after purchasing an additional 6,844 shares during the period. Price T Rowe Associates Inc. MD owned about 0.21% of Cass Information Systems worth $1,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Cass Information Systems by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 801,636 shares of the business services provider’s stock worth $29,861,000 after purchasing an additional 9,463 shares in the last quarter. Heartland Advisors Inc. boosted its holdings in Cass Information Systems by 5.7% during the first quarter. Heartland Advisors Inc. now owns 373,843 shares of the business services provider’s stock valued at $18,008,000 after acquiring an additional 20,181 shares during the period. Speece Thorson Capital Group Inc. raised its position in Cass Information Systems by 194.2% in the first quarter. Speece Thorson Capital Group Inc. now owns 158,801 shares of the business services provider’s stock worth $7,649,000 after purchasing an additional 104,817 shares in the last quarter. Commerce Bank raised its position in Cass Information Systems by 60.5% in the 4th quarter. Commerce Bank now owns 77,634 shares of the business services provider’s stock worth $3,497,000 after purchasing an additional 29,252 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Cass Information Systems by 39.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 73,820 shares of the business services provider’s stock valued at $3,556,000 after acquiring an additional 21,032 shares during the period. 59.08% of the stock is owned by hedge funds and other institutional investors.

Cass Information Systems Stock Up 1.6 %

CASS stock opened at $40.24 on Friday. The firm has a market cap of $549.03 million, a price-to-earnings ratio of 18.22 and a beta of 0.70. The business’s fifty day simple moving average is $41.07 and its two-hundred day simple moving average is $43.87. Cass Information Systems, Inc. has a twelve month low of $35.50 and a twelve month high of $50.25.

Cass Information Systems (NASDAQ:CASS – Get Free Report) 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 for the quarter, compared to analyst estimates of $50.00 million. Cass Information Systems had a return on equity of 12.37% and a net margin of 13.84%. Research analysts expect that Cass Information Systems, Inc. will post 1.86 EPS for the current year.

Cass Information Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Tuesday, September 3rd. Cass Information Systems’s dividend payout ratio is presently 54.79%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Piper Sandler restated an “overweight” rating and set a $44.00 target price (down from $47.00) on shares of Cass Information Systems in a research note on Monday, July 22nd. StockNews.com cut shares of Cass Information Systems from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th.

Read Our Latest Research Report on Cass Information Systems

Cass Information Systems Company Profile

(Free Report)

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.

Further Reading

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