Cass Information Systems (NASDAQ:CASS) Reaches New 52-Week High – What’s Next?

Cass Information Systems, Inc (NASDAQ:CASS) reached a new 52-week high during trading on Friday . The company traded as high as $47.00 and last traded at $46.51, with a volume of 3511 shares trading hands. The stock had previously closed at $46.79.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CASS. Raymond James Financial restated an “outperform” rating and issued a $50.00 target price on shares of Cass Information Systems in a report on Thursday, January 22nd. Zacks Research raised shares of Cass Information Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cass Information Systems in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cass Information Systems currently has an average rating of “Moderate Buy” and an average price target of $48.00.

Cass Information Systems Stock Performance

The firm has a fifty day moving average of $43.07 and a 200-day moving average of $41.66. The stock has a market capitalization of $611.62 million, a price-to-earnings ratio of 17.85 and a beta of 0.45.

Cass Information Systems (NASDAQ:CASS) last issued its earnings results on Thursday, January 22nd. The business services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $49.89 million during the quarter, compared to the consensus estimate of $49.60 million. Cass Information Systems had a return on equity of 13.33% and a net margin of 18.41%. On average, analysts predict that Cass Information Systems, Inc will post 2.62 EPS for the current year.

Cass Information Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be paid a dividend of $0.32 per share. The ex-dividend date is 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

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

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. 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.