Cass Information Systems, Inc. (NASDAQ:CASS) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in Cass Information Systems, Inc. (NASDAQ:CASS) by 12.2% during the 4th quarter, Holdings Channel reports. The fund owned 52,788 shares of the business services provider’s stock after acquiring an additional 5,725 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Cass Information Systems were worth $2,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in Cass Information Systems in the 3rd quarter valued at approximately $1,578,000. Trust Point Inc. bought a new stake in shares of Cass Information Systems in the 4th quarter worth $460,000. PNC Financial Services Group Inc. raised its stake in shares of Cass Information Systems by 7.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,725 shares of the business services provider’s stock worth $251,000 after buying an additional 490 shares in the last quarter. Keeley Teton Advisors LLC raised its stake in shares of Cass Information Systems by 18.7% in the 3rd quarter. Keeley Teton Advisors LLC now owns 95,770 shares of the business services provider’s stock worth $3,567,000 after buying an additional 15,064 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Cass Information Systems in the 4th quarter worth $390,000. 59.08% of the stock is currently owned by institutional investors and hedge funds.

Cass Information Systems Stock Down 4.6 %

Shares of NASDAQ CASS opened at $41.65 on Monday. The stock has a market capitalization of $567.69 million, a price-to-earnings ratio of 19.02 and a beta of 0.73. The stock’s fifty day simple moving average is $46.80 and its 200 day simple moving average is $43.39. Cass Information Systems, Inc. has a 52-week low of $35.05 and a 52-week high of $50.25.

Cass Information Systems (NASDAQ:CASS) last issued 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 business had revenue of $50.74 million for the quarter, compared to analysts’ expectations of $48.33 million. Cass Information Systems had a return on equity of 13.86% and a net margin of 15.21%. As a group, analysts anticipate that Cass Information Systems, Inc. will post 2.74 earnings per share for the current year.

Cass Information Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Monday, March 4th. Cass Information Systems’s payout ratio is 54.79%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CASS. TheStreet downgraded Cass Information Systems from a “b-” rating to a “c” rating in a research note on Thursday, January 25th. Piper Sandler raised Cass Information Systems from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $45.00 to $51.00 in a research note on Monday, February 12th. Finally, StockNews.com downgraded Cass Information Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th.

Cass Information Systems Company 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.