Cass Information Systems, Inc. (NASDAQ:CASS) Stake Cut by Swiss National Bank

Swiss National Bank cut its position in shares of Cass Information Systems, Inc. (NASDAQ:CASS – Free Report) by 9.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,652 shares of the business services provider’s stock after selling 2,700 shares during the quarter. Swiss National Bank owned 0.19% of Cass Information Systems worth $1,156,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CASS. Ballast Asset Management LP acquired a new stake in Cass Information Systems in the third quarter worth $2,601,000. GSA Capital Partners LLP acquired a new position in shares of Cass Information Systems during the third quarter valued at $1,578,000. Keeley Teton Advisors LLC increased its holdings in shares of Cass Information Systems by 18.7% during the third quarter. Keeley Teton Advisors LLC now owns 95,770 shares of the business services provider’s stock valued at $3,567,000 after purchasing an additional 15,064 shares during the period. Heartland Advisors Inc. increased its holdings in shares of Cass Information Systems by 3.3% during the third quarter. Heartland Advisors Inc. now owns 336,527 shares of the business services provider’s stock valued at $12,536,000 after purchasing an additional 10,908 shares during the period. Finally, Trust Point Inc. acquired a new position in shares of Cass Information Systems during the fourth quarter valued at $460,000. 59.08% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of research analysts have recently commented on CASS shares. Piper Sandler raised Cass Information Systems from a “neutral” rating to an “overweight” rating and raised their price target for the company from $45.00 to $51.00 in a report on Monday, February 12th. StockNews.com lowered Cass Information Systems from a “buy” rating to a “hold” rating in a report on Saturday, April 27th.

View Our Latest Research Report on Cass Information Systems

Cass Information Systems Trading Down 2.0 %

Shares of Cass Information Systems stock opened at $42.13 on Thursday. The company’s 50-day moving average price is $45.07 and its two-hundred day moving average price is $44.56. Cass Information Systems, Inc. has a 52 week low of $35.50 and a 52 week high of $50.25. The stock has a market cap of $574.65 million, a PE ratio of 19.24 and a beta of 0.75.

Cass Information Systems (NASDAQ:CASS – Get Free Report) last issued its quarterly earnings results on Thursday, April 18th. The business services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.07). Cass Information Systems had a return on equity of 13.67% and a net margin of 15.21%. The business had revenue of $49.68 million during the quarter, compared to the consensus estimate of $50.68 million. On average, equities analysts predict that Cass Information Systems, Inc. will post 2.35 EPS for the current fiscal year.

Cass Information Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, June 4th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.85%. Cass Information Systems’s dividend payout ratio is currently 54.79%.

Cass Information Systems 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.