Cass Information Systems, Inc. (NASDAQ:CASS) Shares Bought by Nuveen Asset Management LLC

Nuveen Asset Management LLC grew its stake in Cass Information Systems, Inc. (NASDAQ:CASS - Free Report) by 36.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,350 shares of the business services provider's stock after purchasing an additional 14,445 shares during the period. Nuveen Asset Management LLC owned approximately 0.40% of Cass Information Systems worth $2,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in CASS. Huntington National Bank increased its stake in shares of Cass Information Systems by 72.9% in the 4th quarter. Huntington National Bank now owns 690 shares of the business services provider's stock worth $28,000 after acquiring an additional 291 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in Cass Information Systems in the 4th quarter valued at about $44,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Cass Information Systems in the 4th quarter valued at approximately $114,000. Intech Investment Management LLC acquired a new stake in shares of Cass Information Systems during the 4th quarter worth approximately $207,000. Finally, SG Americas Securities LLC increased its holdings in shares of Cass Information Systems by 30.5% during the 4th quarter. SG Americas Securities LLC now owns 6,295 shares of the business services provider's stock worth $258,000 after buying an additional 1,470 shares during the last quarter. Hedge funds and other institutional investors own 59.08% of the company's stock.

Cass Information Systems Stock Performance

Shares of NASDAQ CASS traded up $0.66 during mid-day trading on Friday, reaching $42.44. 36,004 shares of the company's stock were exchanged, compared to its average volume of 44,902. The company's 50-day moving average is $41.48 and its 200-day moving average is $42.32. The firm has a market capitalization of $567.00 million, a price-to-earnings ratio of 30.75 and a beta of 0.43. Cass Information Systems, Inc. has a 52-week low of $37.99 and a 52-week high of $47.14.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last announced its earnings results on Thursday, April 17th. The business services provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. Cass Information Systems had a net margin of 9.62% and a return on equity of 8.25%. The company had revenue of $46.41 million during the quarter, compared to analyst estimates of $51.49 million. As a group, equities analysts predict that Cass Information Systems, Inc. will post 2.62 earnings per share for the current fiscal year.

Cass Information Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Tuesday, June 3rd will be issued a $0.31 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $1.24 annualized dividend and a yield of 2.92%. Cass Information Systems's dividend payout ratio (DPR) is presently 81.58%.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased their price objective on Cass Information Systems from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd.

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.