Cass Information Systems, Inc $CASS Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in Cass Information Systems, Inc (NASDAQ:CASS) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 801,473 shares of the business services provider’s stock after acquiring an additional 4,504 shares during the period. Vanguard Group Inc. owned approximately 5.95% of Cass Information Systems worth $34,664,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC boosted its position in shares of Cass Information Systems by 11.0% in the first quarter. Janney Montgomery Scott LLC now owns 6,669 shares of the business services provider’s stock worth $288,000 after acquiring an additional 660 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Cass Information Systems by 10.9% during the first quarter. Teacher Retirement System of Texas now owns 17,883 shares of the business services provider’s stock valued at $773,000 after buying an additional 1,764 shares in the last quarter. GAMMA Investing LLC lifted its position in Cass Information Systems by 4,823.3% during the first quarter. GAMMA Investing LLC now owns 12,456 shares of the business services provider’s stock valued at $539,000 after buying an additional 12,203 shares in the last quarter. CWM LLC lifted its position in Cass Information Systems by 275.9% during the first quarter. CWM LLC now owns 1,947 shares of the business services provider’s stock valued at $84,000 after buying an additional 1,429 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of Cass Information Systems by 36.2% during the fourth quarter. Nuveen Asset Management LLC now owns 54,350 shares of the business services provider’s stock valued at $2,223,000 after purchasing an additional 14,445 shares during the period. 59.08% of the stock is owned by institutional investors and hedge funds.

Cass Information Systems Stock Up 0.5%

Cass Information Systems stock opened at $43.43 on Wednesday. The firm has a market capitalization of $574.14 million, a price-to-earnings ratio of 23.35 and a beta of 0.48. The firm has a 50-day moving average price of $42.93 and a two-hundred day moving average price of $42.54. Cass Information Systems, Inc has a 52-week low of $38.01 and a 52-week high of $47.14.

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

Cass Information Systems Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CASS shares. Raymond James Financial started coverage on shares of Cass Information Systems in a research note on Tuesday, July 15th. They set an “outperform” rating and a $50.00 price objective on the stock. Wall Street Zen upgraded shares of Cass Information Systems from a “sell” rating to a “hold” rating in a research note on Monday, August 18th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $48.00.

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.