Allspring Global Investments Holdings LLC Trims Stock Holdings in Cass Information Systems, Inc. (NASDAQ:CASS)

Allspring Global Investments Holdings LLC lowered its position in shares of Cass Information Systems, Inc. (NASDAQ:CASS) by 33.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,878 shares of the business services provider’s stock after selling 28,643 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.41% of Cass Information Systems worth $2,167,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in shares of Cass Information Systems during the 1st quarter worth approximately $42,000. Tower Research Capital LLC TRC raised its position in shares of Cass Information Systems by 277.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 988 shares of the business services provider’s stock worth $43,000 after purchasing an additional 726 shares during the period. Citigroup Inc. raised its position in shares of Cass Information Systems by 60.4% during the 1st quarter. Citigroup Inc. now owns 1,192 shares of the business services provider’s stock worth $52,000 after purchasing an additional 449 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Cass Information Systems by 8.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,998 shares of the business services provider’s stock worth $169,000 after purchasing an additional 409 shares during the period. Finally, Vestcor Inc acquired a new stake in shares of Cass Information Systems during the 4th quarter worth approximately $191,000. Institutional investors and hedge funds own 57.60% of the company’s stock.

Cass Information Systems Price Performance

Shares of CASS stock opened at $39.52 on Monday. Cass Information Systems, Inc. has a 12-month low of $35.05 and a 12-month high of $51.48. The firm has a market capitalization of $540.24 million, a price-to-earnings ratio of 17.64 and a beta of 0.61. The business has a 50 day simple moving average of $37.65 and a 200 day simple moving average of $38.29.

Cass Information Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, December 5th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.04%. This is a positive change from Cass Information Systems’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, December 4th. Cass Information Systems’s dividend payout ratio is 51.79%.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Cass Information Systems in a research report on Thursday, October 5th. They set a “hold” rating on the stock.

Insider Buying and Selling

In other news, CEO Martin H. Resch purchased 1,000 shares of the firm’s stock in a transaction on Monday, October 23rd. The stock was purchased at an average cost of $36.50 per share, with a total value of $36,500.00. Following the purchase, the chief executive officer now owns 22,262 shares in the company, valued at approximately $812,563. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.39% of the company’s stock.

Cass Information Systems 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.