Boston Partners Has $2.75 Million Holdings in Cass Information Systems, Inc $CASS

Key Points

• Boston Partners increased its holdings in Cass Information Systems by 16.6%, owning 63,620 shares valued at approximately $2.75 million.
• Recent analysts' reports have resulted in a price target drop by Piper Sandler to $46.00, while Wall Street Zen downgraded the stock from "hold" to "sell."
• Cass Information Systems announced a quarterly dividend of $0.31 per share, with an annualized yield of 2.9%.

Boston Partners raised its stake in Cass Information Systems, Inc (NASDAQ:CASS - Free Report) by 16.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 63,620 shares of the business services provider's stock after purchasing an additional 9,071 shares during the quarter. Boston Partners owned 0.48% of Cass Information Systems worth $2,752,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aquatic Capital Management LLC bought a new position in Cass Information Systems during the 4th quarter valued at about $44,000. Global X Japan Co. Ltd. bought a new stake in Cass Information Systems in the first quarter worth $55,000. Copeland Capital Management LLC raised its position in shares of Cass Information Systems by 56.7% during 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 in the last quarter. CWM LLC lifted its stake 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 purchasing an additional 1,429 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC bought a new stake in Cass Information Systems in the first quarter worth $201,000. Hedge funds and other institutional investors own 59.08% of the company's stock.

Analyst Upgrades and Downgrades

CASS has been the topic of several research reports. Wall Street Zen upgraded Cass Information Systems from a "sell" rating to a "hold" rating in a research note on Monday. Piper Sandler reduced their target price on 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, Raymond James Financial initiated coverage on shares of Cass Information Systems in a report on Tuesday, July 15th. They issued an "outperform" rating and a $50.00 price target for the company. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Cass Information Systems presently has a consensus rating of "Buy" and a consensus target price of $48.00.

Cass Information Systems Stock Performance

Shares of CASS stock traded down $0.4350 on Thursday, reaching $41.9450. 102,967 shares of the company were exchanged, compared to its average volume of 52,827. Cass Information Systems, Inc has a 1 year low of $38.01 and a 1 year high of $47.14. The business has a 50-day moving average price of $42.82 and a 200 day moving average price of $42.52. The company has a market cap of $554.51 million, a price-to-earnings ratio of 22.56 and a beta of 0.48.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $44.40 million during the quarter, compared to analysts' expectations of $48.12 million. Cass Information Systems had a net margin of 13.22% and a return on equity of 9.02%. As a group, equities analysts anticipate that Cass Information Systems, Inc will post 2.62 earnings per share for the current year.

Cass Information Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, September 5th will be paid a $0.31 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.24 dividend on an annualized basis and a yield of 3.0%. Cass Information Systems's payout ratio is currently 66.67%.

Cass Information Systems 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.