56,801 Shares of Cass Information Systems, Inc $CASS Bought by Inspire Investing LLC

Key Points

• Inspire Investing acquired 56,801 Cass shares worth approximately $3.0 million, giving it a 0.44% stake. Institutional investors collectively own 59.08% of the company.
• Cass reported quarterly EPS of $0.81, slightly above the $0.80 consensus, and raised its quarterly dividend from $0.32 to $0.34 per share, implying a 2.5% yield.
• The stock was trading near its 52-week high at $54.83, while analyst sentiment remained cautious: Raymond James downgraded it to Market Perform, and the consensus rating was Hold with a $58.50 target price.

Inspire Investing LLC acquired a new stake in shares of Cass Information Systems, Inc (NASDAQ:CASS - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 56,801 shares of the business services provider's stock, valued at approximately $3,025,000. Inspire Investing LLC owned 0.44% of Cass Information Systems as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CASS. BlackRock Inc. acquired a new position in shares of Cass Information Systems during the 2nd quarter worth about $51,403,000. Heartland Advisors Inc. acquired a new position in Cass Information Systems during the second quarter valued at approximately $25,322,000. Punch & Associates Investment Management Inc. bought a new stake in Cass Information Systems in the second quarter valued at approximately $8,033,000. Bank of New York Mellon Corp bought a new stake in Cass Information Systems in the second quarter valued at approximately $3,496,000. Finally, Commerce Bank acquired a new stake in Cass Information Systems in the second quarter worth $2,733,000. Institutional investors and hedge funds own 59.08% of the company's stock.

Cass Information Systems Stock Down 4.9%

Shares of NASDAQ CASS opened at $54.83 on Friday. Cass Information Systems, Inc has a twelve month low of $38.42 and a twelve month high of $59.63. The firm has a fifty day simple moving average of $55.20 and a 200 day simple moving average of $51.85. The company has a market capitalization of $702.37 million, a PE ratio of 18.84 and a beta of 0.39.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The business services provider reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.01. Cass Information Systems had a return on equity of 15.46% and a net margin of 18.94%. The business had revenue of $27.53 million for the quarter, compared to analyst estimates of $52.29 million. As a group, equities analysts expect that Cass Information Systems, Inc will post 2.96 earnings per share for the current fiscal year.

Cass Information Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Cass Information Systems's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, December 4th. Cass Information Systems's payout ratio is currently 43.99%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Raymond James Financial lowered Cass Information Systems from an "outperform" rating to a "market perform" rating in a research report on Friday. Weiss Ratings cut shares of Cass Information Systems from a "buy (a-)" rating to a "buy (b+)" rating in a report on Friday. Piper Sandler reiterated a "neutral" rating and set a $61.00 price objective (up from $52.00) on shares of Cass Information Systems in a research report on Thursday, August 6th. Finally, Zacks Research downgraded shares of Cass Information Systems from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Cass Information Systems presently has an average rating of "Hold" and an average target price of $58.50.

Cass Information Systems News Summary

Here are the key news stories impacting Cass Information Systems this week:

• Positive Sentiment: Third-quarter earnings beat expectations. Cass reported adjusted EPS of $0.81, above the $0.80 consensus estimate and up from $0.69 a year earlier. Revenue reached approximately $52.7 million, helped by higher freight rates that lifted fees. Cass Information Systems Non-GAAP EPS of $0.81, revenue of $52.69M
• Positive Sentiment: Dividend increased 6.3%. The company approved a quarterly dividend of $0.34 per share, up from $0.32, representing a $1.36 annualized payout and approximately a 2.4% yield. The dividend is payable December 14 to shareholders of record December 4. Cass Information Systems Approves Quarterly Dividend
• Neutral Sentiment: Results were solid but only modestly above forecasts. The small EPS beat and favorable freight-rate impact may already be reflected in the valuation, particularly with the stock trading near its 52-week high. Cass Information Systems Surpasses Q3 Estimates
• Negative Sentiment: Raymond James downgraded the shares. The firm moved its rating from Outperform to Market Perform, signaling less expected upside after the recent advance and likely making the downgrade the main reason for the stock’s decline. Raymond James Downgrades Cass Information Systems

About Cass Information Systems

Cass Information Systems, Inc NASDAQ: CASS provides payment and information-processing services to businesses. Its offerings are designed to help companies manage, audit and analyze expenditures associated with transportation, utilities, telecommunications and other recurring business expenses.

The company's transportation services include freight invoice payment, auditing, rating, electronic data interchange and related information-management tools for shippers and logistics organizations.

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