Raymond James & Associates Acquires 5,905 Shares of Cass Information Systems, Inc. (NASDAQ:CASS)

Raymond James & Associates raised its holdings in Cass Information Systems, Inc. (NASDAQ:CASS) by 17.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,405 shares of the business services provider’s stock after purchasing an additional 5,905 shares during the quarter. Raymond James & Associates’ holdings in Cass Information Systems were worth $1,775,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in Cass Information Systems in the 4th quarter valued at $173,000. Exchange Traded Concepts LLC bought a new stake in shares of Cass Information Systems during the fourth quarter worth $390,000. Vanguard Group Inc. raised its position in shares of Cass Information Systems by 1.2% during the third quarter. Vanguard Group Inc. now owns 801,636 shares of the business services provider’s stock worth $29,861,000 after acquiring an additional 9,463 shares during the last quarter. American Century Companies Inc. raised its position in shares of Cass Information Systems by 1.9% during the third quarter. American Century Companies Inc. now owns 109,085 shares of the business services provider’s stock worth $4,063,000 after acquiring an additional 2,001 shares during the last quarter. Finally, Comerica Bank bought a new stake in shares of Cass Information Systems during the third quarter worth $71,000. Institutional investors own 59.08% of the company’s stock.

Cass Information Systems Stock Down 1.3 %

Shares of Cass Information Systems stock opened at $44.73 on Thursday. Cass Information Systems, Inc. has a 12 month low of $35.05 and a 12 month high of $50.25. The business has a fifty day simple moving average of $46.83 and a 200 day simple moving average of $43.25. The stock has a market cap of $609.67 million, a PE ratio of 20.52 and a beta of 0.73.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings data on Thursday, January 25th. The business services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.13. Cass Information Systems had a return on equity of 13.84% and a net margin of 15.22%. The business had revenue of $50.74 million during the quarter, compared to analysts’ expectations of $48.33 million. Analysts expect that Cass Information Systems, Inc. will post 2.74 EPS for the current fiscal year.

Cass Information Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.68%. Cass Information Systems’s dividend payout ratio (DPR) is presently 55.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Piper Sandler upgraded 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 report on Monday, February 12th. TheStreet downgraded Cass Information Systems from a “b-” rating to a “c” rating in a research report on Thursday, January 25th. Finally, StockNews.com downgraded Cass Information Systems from a “buy” rating to a “hold” rating in a research report on Wednesday.

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.