International Assets Investment Management LLC Buys Shares of 10,139 Cass Information Systems, Inc. (NASDAQ:CASS)

International Assets Investment Management LLC bought a new stake in shares of Cass Information Systems, Inc. (NASDAQ:CASS) in the 4th quarter, Holdings Channel reports. The institutional investor bought 10,139 shares of the business services provider’s stock, valued at approximately $4,570,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. AQR Capital Management LLC raised its position in shares of Cass Information Systems by 0.3% during the 4th quarter. AQR Capital Management LLC now owns 96,902 shares of the business services provider’s stock valued at $4,440,000 after acquiring an additional 269 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Cass Information Systems by 4.4% in the 2nd quarter. MetLife Investment Management LLC now owns 7,198 shares of the business services provider’s stock valued at $279,000 after buying an additional 304 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Cass Information Systems by 10.2% in the 3rd quarter. Lazard Asset Management LLC now owns 3,346 shares of the business services provider’s stock valued at $124,000 after buying an additional 310 shares in the last quarter. Sei Investments Co. increased its position in shares of Cass Information Systems by 5.3% in the 1st quarter. Sei Investments Co. now owns 7,169 shares of the business services provider’s stock valued at $310,000 after buying an additional 362 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Cass Information Systems by 2.2% in the 4th quarter. JPMorgan Chase & Co. now owns 17,700 shares of the business services provider’s stock valued at $810,000 after buying an additional 373 shares in the last quarter. Institutional investors own 59.08% of the company’s stock.

Cass Information Systems Trading Up 0.5 %

CASS stock opened at $45.33 on Wednesday. The stock has a 50-day moving average price of $46.80 and a two-hundred day moving average price of $43.24. The stock has a market cap of $617.85 million, a PE ratio of 20.79 and a beta of 0.73. Cass Information Systems, Inc. has a 1 year low of $35.05 and a 1 year high of $50.25.

Cass Information Systems (NASDAQ:CASS) last released 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 firm had revenue of $50.74 million during the quarter, compared to analysts’ expectations of $48.33 million. Cass Information Systems had a return on equity of 13.84% and a net margin of 15.22%. On average, analysts forecast 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 dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Monday, March 4th. Cass Information Systems’s dividend payout ratio (DPR) is presently 55.05%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CASS shares. TheStreet cut shares of Cass Information Systems from a “b-” rating to a “c” rating in a research report on Thursday, January 25th. StockNews.com upgraded shares of Cass Information Systems from a “hold” rating to a “buy” rating in a research report on Friday, March 8th. Finally, Piper Sandler upgraded shares of Cass Information Systems from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $45.00 to $51.00 in a research report on Monday, February 12th.

About Cass Information Systems

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.