XTX Topco Ltd Invests $454,000 in Cass Information Systems, Inc (NASDAQ:CASS)

Key Points

• XTX Topco Ltd acquired 10,490 shares of Cass Information Systems, valued at approximately $454,000, bringing its total ownership to about 0.08% as of its latest filing.
• Cass Information Systems recently posted earnings per share of $0.38, below the consensus estimate of $0.72, with revenue of $44.40 million compared to expectations of $48.12 million.
• The company declared a quarterly dividend of $0.31 per share, representing an annualized yield of 3.0%, set to be paid on September 15th.

XTX Topco Ltd bought a new stake in Cass Information Systems, Inc (NASDAQ:CASS - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 10,490 shares of the business services provider's stock, valued at approximately $454,000. XTX Topco Ltd owned about 0.08% of Cass Information Systems at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CASS. Aquatic Capital Management LLC purchased a new position in shares of Cass Information Systems in the 4th quarter valued at $44,000. Global X Japan Co. Ltd. purchased a new position in shares of Cass Information Systems in the 1st quarter valued at $55,000. Copeland Capital Management LLC grew its position in shares of Cass Information Systems by 56.7% in the 1st quarter. Copeland Capital Management LLC now owns 1,432 shares of the business services provider's stock valued at $62,000 after buying an additional 518 shares during the last quarter. CWM LLC grew its position in shares of Cass Information Systems by 275.9% in the 1st 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 during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Cass Information Systems in the 4th quarter valued at $114,000. 59.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Raymond James Financial assumed coverage on shares of Cass Information Systems in a research report on Tuesday, July 15th. They issued an "outperform" rating and a $50.00 target price on the stock. Piper Sandler dropped their target price on shares of Cass Information Systems from $47.00 to $46.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Wall Street Zen cut shares of Cass Information Systems from a "hold" rating to a "sell" rating in a research note on Sunday.

Cass Information Systems Stock Up 1.3%

NASDAQ:CASS traded up $0.54 during trading hours on Tuesday, reaching $42.60. 5,470 shares of the company's stock were exchanged, compared to its average volume of 51,760. The firm has a market capitalization of $563.11 million, a price-to-earnings ratio of 22.90 and a beta of 0.48. The company has a 50-day moving average of $42.82 and a 200 day moving average of $42.50. Cass Information Systems, Inc has a 1-year low of $38.01 and a 1-year high of $47.14.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last issued its quarterly 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). The business had revenue of $44.40 million for 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 forecast that Cass Information Systems, Inc will post 2.62 EPS for the current fiscal year.

Cass Information Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, September 5th will be paid a dividend of $0.31 per share. The ex-dividend date is Friday, September 5th. This represents a $1.24 dividend on an annualized basis and a yield of 2.9%. Cass Information Systems's dividend payout ratio is currently 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.