A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in Cass Information Systems during the fourth quarter worth $114,000. Raymond James & Associates boosted its stake in shares of Cass Information Systems by 17.6% during the 4th quarter. Raymond James & Associates now owns 39,405 shares of the business services provider’s stock worth $1,775,000 after acquiring an additional 5,905 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Cass Information Systems during the 4th quarter valued at about $173,000. Exchange Traded Concepts LLC purchased a new position in shares of Cass Information Systems in the 4th quarter valued at about $390,000. Finally, Vanguard Group Inc. raised its holdings in Cass Information Systems by 1.2% in 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 during the period. Institutional investors and hedge funds own 59.08% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have commented on CASS. StockNews.com raised Cass Information Systems from a “hold” rating to a “buy” rating in a report on Friday, March 8th. Piper Sandler raised shares of Cass Information Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $45.00 to $51.00 in a research note on Monday, February 12th. Finally, TheStreet downgraded shares of Cass Information Systems from a “b-” rating to a “c” rating in a research note on Thursday, January 25th.
View Our Latest Analysis on CASS
Cass Information Systems Stock Performance
NASDAQ:CASS opened at $48.17 on Monday. Cass Information Systems, Inc. has a one year low of $35.05 and a one year high of $50.25. The stock has a market cap of $656.56 million, a PE ratio of 22.10 and a beta of 0.73. The stock has a 50 day moving average price of $45.95 and a 200 day moving average price of $42.51.
Cass Information Systems (NASDAQ:CASS – Get Free Report) last issued its earnings results on Thursday, January 25th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.13. The business had revenue of $50.74 million during the quarter, compared to the consensus estimate of $48.33 million. Cass Information Systems had a return on equity of 13.84% and a net margin of 15.22%. As a group, analysts predict that Cass Information Systems, Inc. will post 2.74 earnings per share for the current fiscal year.
Cass Information Systems Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a $0.30 dividend. The ex-dividend date was Monday, March 4th. This represents a $1.20 annualized dividend and a yield of 2.49%. Cass Information Systems’s payout ratio is 55.05%.
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.
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