Information Technology

Janney Montgomery Scott LLC Buys 2,097 Shares of Cass Information Systems, Inc. (NASDAQ:CASS)


Janney Montgomery Scott LLC increased its position in shares of Cass Information Systems, Inc. (NASDAQ:CASS – Free Report) by 47.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,546 shares of the business services provider’s stock after purchasing an additional 2,097 shares during the period. Janney Montgomery Scott LLC’s holdings in Cass Information Systems were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CASS. Commerce Bank lifted its holdings in shares of Cass Information Systems by 60.5% during the fourth quarter. Commerce Bank now owns 77,634 shares of the business services provider’s stock worth $3,497,000 after buying an additional 29,252 shares in the last quarter. Speece Thorson Capital Group Inc. bought a new stake in Cass Information Systems in the 4th quarter valued at about $2,432,000. Allspring Global Investments Holdings LLC grew its position in shares of Cass Information Systems by 39.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 73,820 shares of the business services provider’s stock worth $3,556,000 after purchasing an additional 21,032 shares in the last quarter. Trust Point Inc. bought a new position in shares of Cass Information Systems during the fourth quarter worth approximately $460,000. Finally, Raymond James & Associates raised its position in shares of Cass Information Systems by 17.6% in the fourth quarter. Raymond James & Associates now owns 39,405 shares of the business services provider’s stock valued at $1,775,000 after buying an additional 5,905 shares in the last quarter. 59.08% of the stock is currently owned by institutional investors.

Cass Information Systems Price Performance

NASDAQ:CASS opened at $40.35 on Thursday. Cass Information Systems, Inc. has a one year low of $35.50 and a one year high of $50.25. The company has a market cap of $550.37 million, a PE ratio of 18.42 and a beta of 0.70. The firm’s 50 day simple moving average is $41.79 and its 200 day simple moving average is $44.02.

Cass Information Systems (NASDAQ:CASS – Get Free Report) last issued its quarterly 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 business 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%. Equities research analysts expect that Cass Information Systems, Inc. will post 2.21 EPS for the current year.

Cass Information Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.20 annualized dividend and a dividend yield of 2.97%. Cass Information Systems’s payout ratio is 54.79%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CASS. StockNews.com downgraded Cass Information Systems from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Piper Sandler restated an “overweight” rating and issued a $44.00 price target (down previously from $47.00) on shares of Cass Information Systems in a research report on Monday.

View Our Latest Stock Analysis on Cass Information Systems

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.

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