UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 1,923 Shares of Cass Information Systems, Inc. (NASDAQ:CASS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Cass Information Systems, Inc. (NASDAQ:CASS) by 6.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,174 shares of the business services provider’s stock after purchasing an additional 1,923 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.24% of Cass Information Systems worth $1,316,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CASS. Emmett Investment Management LP bought a new stake in Cass Information Systems during the fourth quarter worth about $3,715,000. Heartland Advisors Inc. lifted its holdings 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 worth $17,057,000 after acquiring an additional 43,214 shares during the period. Speece Thorson Capital Group Inc. boosted its position in shares of Cass Information Systems by 7.7% during the 4th quarter. Speece Thorson Capital Group Inc. now owns 328,937 shares of the business services provider’s stock worth $13,457,000 after acquiring an additional 23,442 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Cass Information Systems by 91.1% in the fourth quarter. JPMorgan Chase & Co. now owns 44,418 shares of the business services provider’s stock valued at $1,817,000 after acquiring an additional 21,177 shares during the last quarter. Finally, Towneley Capital Management Inc DE acquired a new position in Cass Information Systems during the fourth quarter valued at approximately $611,000. Institutional investors own 59.08% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cass Information Systems Stock Up 1.6%

NASDAQ:CASS opened at $42.44 on Monday. Cass Information Systems, Inc. has a twelve month low of $37.99 and a twelve month high of $47.14. The stock’s 50-day simple moving average is $41.46 and its 200 day simple moving average is $42.28. The firm has a market capitalization of $567.00 million, a PE ratio of 30.75 and a beta of 0.44.

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

Cass Information Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd will be given a $0.31 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 2.92%. Cass Information Systems’s dividend payout ratio is currently 81.58%.

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.