GAMMA Investing LLC boosted its holdings in Cass Information Systems, Inc (NASDAQ:CASS - Free Report) by 4,823.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in CASS. Emmett Investment Management LP acquired a new stake in Cass Information Systems in the 4th quarter valued at approximately $3,715,000. Heartland Advisors Inc. increased its position in Cass Information Systems by 11.6% in the 4th 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 period. Speece Thorson Capital Group Inc. increased its position in Cass Information Systems by 7.7% in the 4th 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 period. JPMorgan Chase & Co. increased its position in Cass Information Systems by 91.1% in the 4th 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 period. Finally, Nuveen Asset Management LLC increased its position in Cass Information Systems by 36.2% in the 4th 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 period. 59.08% of the stock is currently owned by institutional investors and hedge funds.
Cass Information Systems Price Performance
CASS opened at $41.68 on Thursday. The stock's 50 day moving average price is $41.68 and its 200 day moving average price is $42.17. The stock has a market cap of $556.84 million, a P/E ratio of 27.42 and a beta of 0.44. Cass Information Systems, Inc has a 12 month low of $37.99 and a 12 month high of $47.14.
Cass Information Systems (NASDAQ:CASS - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $46.41 million during the quarter, compared to analyst estimates of $51.49 million. Cass Information Systems had a return on equity of 8.84% and a net margin of 10.71%. Equities analysts anticipate that Cass Information Systems, Inc will post 2.62 EPS for the current year.
Cass Information Systems Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cass Information Systems's payout ratio is currently 81.58%.
Wall Street Analysts Forecast Growth
Separately, Piper Sandler lowered 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.
Read Our Latest Analysis on Cass Information Systems
Cass Information Systems Profile
(
Free Report)
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.
Further Reading
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