Cass Information Systems, Inc. (NASDAQ:CASS) Stake Boosted by Barclays PLC

Barclays PLC boosted its holdings in Cass Information Systems, Inc. (NASDAQ:CASS) by 9.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,022 shares of the business services provider’s stock after purchasing an additional 2,084 shares during the quarter. Barclays PLC owned approximately 0.18% of Cass Information Systems worth $983,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Heartland Advisors Inc. grew its position in shares of Cass Information Systems by 11.6% during the 4th quarter. Heartland Advisors Inc. now owns 416,947 shares of the business services provider’s stock valued at $17,057,000 after buying an additional 43,214 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Cass Information Systems by 3.3% during the fourth quarter. Royce & Associates LP now owns 265,907 shares of the business services provider’s stock valued at $10,878,000 after purchasing an additional 8,568 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Cass Information Systems by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,325 shares of the business services provider’s stock worth $4,268,000 after purchasing an additional 716 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Cass Information Systems by 15.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 89,599 shares of the business services provider’s stock worth $3,665,000 after purchasing an additional 11,686 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Cass Information Systems by 7.7% in the 4th quarter. Bank of New York Mellon Corp now owns 87,456 shares of the business services provider’s stock worth $3,578,000 after purchasing an additional 6,236 shares during the last quarter. 59.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Piper Sandler dropped their target price on Cass Information Systems from $47.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd.

Cass Information Systems Trading Down 0.4 %

NASDAQ CASS opened at $41.43 on Tuesday. The company has a 50-day moving average price of $41.77 and a two-hundred day moving average price of $42.44. The stock has a market cap of $557.85 million, a price-to-earnings ratio of 30.02 and a beta of 0.43. Cass Information Systems, Inc. has a 52 week low of $37.99 and a 52 week high of $47.14.

Cass Information Systems (NASDAQ:CASS) last posted its earnings results on Thursday, April 17th. The business services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. Cass Information Systems had a return on equity of 8.25% and a net margin of 9.62%. The firm had revenue of $46.41 million for the quarter, compared to analysts’ expectations of $51.49 million. As a group, equities research analysts expect that Cass Information Systems, Inc. will post 2.62 earnings per share for the current fiscal year.

Cass Information Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Tuesday, June 3rd will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Tuesday, June 3rd. Cass Information Systems’s dividend payout ratio is currently 81.58%.

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.