Cass Information Systems, Inc (NASDAQ:CASS) Short Interest Update

Cass Information Systems, Inc (NASDAQ:CASS) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 297,359 shares, an increase of 18.8% from the March 15th total of 250,322 shares. Approximately 2.4% of the shares of the company are sold short. Based on an average daily volume of 75,763 shares, the days-to-cover ratio is presently 3.9 days.

Cass Information Systems Stock Up 3.2%

Shares of NASDAQ:CASS opened at $48.10 on Friday. Cass Information Systems has a 12-month low of $36.07 and a 12-month high of $48.31. The stock has a market cap of $620.97 million, a PE ratio of 18.36 and a beta of 0.42. The business has a 50 day moving average of $44.92 and a 200-day moving average of $42.67.

Cass Information Systems (NASDAQ:CASS) last announced its earnings results on Thursday, January 22nd. The business services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $28.03 million for the quarter, compared to analyst estimates of $49.60 million. Cass Information Systems had a return on equity of 13.28% and a net margin of 18.41%. Equities research analysts expect that Cass Information Systems will post 2.62 earnings per share for the current year.

Cass Information Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.7%. Cass Information Systems’s dividend payout ratio (DPR) is currently 48.85%.

Hedge Funds Weigh In On Cass Information Systems

Several institutional investors and hedge funds have recently modified their holdings of CASS. Triumph Capital Management acquired a new stake in Cass Information Systems in the 3rd quarter worth about $25,000. Kingdom Financial Group LLC. acquired a new position in shares of Cass Information Systems during the 4th quarter worth approximately $26,000. New York State Teachers Retirement System bought a new position in shares of Cass Information Systems during the fourth quarter worth approximately $46,000. BNP Paribas Financial Markets raised its position in shares of Cass Information Systems by 50.7% in the second quarter. BNP Paribas Financial Markets now owns 1,227 shares of the business services provider’s stock valued at $53,000 after buying an additional 413 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Cass Information Systems by 1,206.6% in the third quarter. Russell Investments Group Ltd. now owns 1,594 shares of the business services provider’s stock valued at $63,000 after buying an additional 1,472 shares in the last quarter. 59.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Weiss Ratings raised Cass Information Systems from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 1st. Raymond James Financial reaffirmed an “outperform” rating and issued a $50.00 price objective on shares of Cass Information Systems in a research report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Cass Information Systems currently has an average rating of “Moderate Buy” and an average target price of $48.00.

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. The company also processes and pays facility-related invoices, such as electricity, gas, waste, and telecommunications expenses; and provides telecom expense management solutions, as well as church management software solution and on-line platform to provide generosity services for faith-based and non-profit organizations.