Swiss National Bank Sells 700 Shares of Cass Information Systems, Inc $CASS

Swiss National Bank lowered its holdings in shares of Cass Information Systems, Inc (NASDAQ:CASS) by 2.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 24,952 shares of the business services provider’s stock after selling 700 shares during the period. Swiss National Bank owned 0.19% of Cass Information Systems worth $1,079,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wells Fargo & Company MN lifted its position in Cass Information Systems by 8.0% during the fourth quarter. Wells Fargo & Company MN now owns 37,876 shares of the business services provider’s stock worth $1,549,000 after acquiring an additional 2,810 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Cass Information Systems by 4.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 47,205 shares of the business services provider’s stock valued at $1,931,000 after buying an additional 2,025 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Cass Information Systems in the fourth quarter valued at approximately $276,000. Barclays PLC raised its position in shares of Cass Information Systems by 9.5% in the fourth quarter. Barclays PLC now owns 24,022 shares of the business services provider’s stock valued at $983,000 after buying an additional 2,084 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Cass Information Systems by 4.8% during the fourth quarter. First Trust Advisors LP now owns 8,637 shares of the business services provider’s stock valued at $353,000 after purchasing an additional 393 shares in the last quarter. Institutional investors own 59.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wall Street Zen upgraded shares of Cass Information Systems from a “sell” rating to a “hold” rating in a research report on Monday, August 18th. Raymond James Financial assumed coverage on shares of Cass Information Systems in a research note on Tuesday, July 15th. They set an “outperform” rating and a $50.00 target price on the stock. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Cass Information Systems has a consensus rating of “Buy” and an average price target of $48.00.

Cass Information Systems Price Performance

CASS opened at $43.23 on Tuesday. Cass Information Systems, Inc has a fifty-two week low of $38.01 and a fifty-two week high of $47.14. The firm has a market capitalization of $571.50 million, a PE ratio of 23.24 and a beta of 0.48. The company’s 50-day moving average is $42.89 and its 200 day moving average is $42.53.

Cass Information Systems (NASDAQ:CASS) last posted its earnings results on Thursday, July 17th. The business services provider reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.34). Cass Information Systems had a return on equity of 9.02% and a net margin of 13.22%.The business had revenue of $44.40 million during the quarter, compared to analyst estimates of $48.12 million. As a group, analysts expect that Cass Information Systems, Inc will post 2.62 EPS for the current year.

Cass Information Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, September 5th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, September 5th. Cass Information Systems’s dividend payout ratio is presently 66.67%.

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.