GAMMA Investing LLC Boosts Stock Position in Cass Information Systems, Inc (NASDAQ:CASS)

GAMMA Investing LLC boosted its position in Cass Information Systems, Inc (NASDAQ:CASS - Free Report) by 4,823.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,456 shares of the business services provider's stock after acquiring an additional 12,203 shares during the quarter. GAMMA Investing LLC owned 0.09% of Cass Information Systems worth $539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CASS. Emmett Investment Management LP bought a new position in Cass Information Systems in the fourth quarter valued at $3,715,000. Heartland Advisors Inc. increased its stake in Cass Information Systems by 11.6% in the fourth quarter. Heartland Advisors Inc. now owns 416,947 shares of the business services provider's stock valued at $17,057,000 after acquiring an additional 43,214 shares during the last quarter. Speece Thorson Capital Group Inc. increased its stake in Cass Information Systems by 7.7% in the fourth quarter. Speece Thorson Capital Group Inc. now owns 328,937 shares of the business services provider's stock valued at $13,457,000 after acquiring an additional 23,442 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Cass Information Systems by 91.1% in the fourth quarter. JPMorgan Chase & Co. now owns 44,418 shares of the business services provider's stock valued at $1,817,000 after acquiring an additional 21,177 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in Cass Information Systems by 36.2% in the fourth quarter. Nuveen Asset Management LLC now owns 54,350 shares of the business services provider's stock valued at $2,223,000 after acquiring an additional 14,445 shares during the last quarter. Institutional investors own 59.08% of the company's stock.

Wall Street Analysts Forecast Growth

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

Cass Information Systems Trading Down 0.8%

Shares of NASDAQ:CASS traded down $0.32 on Friday, reaching $41.36. 70,563 shares of the company traded hands, compared to its average volume of 45,476. The business's 50-day simple moving average is $41.77 and its 200 day simple moving average is $42.10. Cass Information Systems, Inc has a 52 week low of $37.99 and a 52 week high of $47.14. The stock has a market capitalization of $552.57 million, a P/E ratio of 27.21 and a beta of 0.44.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The business services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.03. Cass Information Systems had a return on equity of 8.84% and a net margin of 10.71%. The firm had revenue of $46.41 million for the quarter, compared to analysts' expectations of $51.49 million. Sell-side analysts expect that Cass Information Systems, Inc will post 2.62 EPS for the current fiscal year.

Cass Information Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $0.31 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.00%. Cass Information Systems's dividend payout ratio (DPR) is currently 81.58%.

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.