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Royce & Associates LP Has $10.09 Million Holdings in Cass Information Systems, Inc (NASDAQ:CASS)

Cass Information Systems logo with Computer and Technology background

Key Points

  • Royce & Associates LP reduced its stake in Cass Information Systems by 12.3% during the first quarter, now holding approximately 233,323 shares valued at around $10 million.
  • Analysts have given mixed ratings, with Raymond James issuing an "outperform" rating and a $50 price target, while Wall Street Zen downgraded the stock to "sell."
  • Cass Information Systems reported earnings per share of $0.38 for the last quarter, missing expectations by $0.34, and announced a quarterly dividend of $0.31 per share.
  • Five stocks to consider instead of Cass Information Systems.
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Royce & Associates LP reduced its position in shares of Cass Information Systems, Inc (NASDAQ:CASS - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 233,323 shares of the business services provider's stock after selling 32,584 shares during the period. Royce & Associates LP owned 1.73% of Cass Information Systems worth $10,091,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Heartland Advisors Inc. lifted its holdings 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. Fenimore Asset Management Inc lifted its holdings in Cass Information Systems by 0.8% in the first quarter. Fenimore Asset Management Inc now owns 338,882 shares of the business services provider's stock valued at $14,657,000 after acquiring an additional 2,850 shares during the last quarter. Speece Thorson Capital Group Inc. lifted its holdings 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. Northern Trust Corp lifted its holdings in Cass Information Systems by 3.7% in the fourth quarter. Northern Trust Corp now owns 136,568 shares of the business services provider's stock valued at $5,587,000 after acquiring an additional 4,836 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Cass Information Systems by 1.9% in the fourth quarter. Ameriprise Financial Inc. now owns 118,070 shares of the business services provider's stock valued at $4,830,000 after acquiring an additional 2,221 shares during the last quarter. 59.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CASS has been the topic of several analyst reports. 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. Raymond James Financial initiated coverage on Cass Information Systems in a research note on Tuesday, July 15th. They issued an "outperform" rating and a $50.00 price target on the stock. Finally, Wall Street Zen cut Cass Information Systems from a "hold" rating to a "sell" rating in a research note on Monday, July 21st.

Read Our Latest Research Report on Cass Information Systems

Cass Information Systems Price Performance

CASS stock traded down $0.05 during midday trading on Friday, hitting $41.90. The stock had a trading volume of 56,800 shares, compared to its average volume of 74,719. The firm has a market cap of $559.78 million, a PE ratio of 22.53 and a beta of 0.45. Cass Information Systems, Inc has a 12-month low of $37.99 and a 12-month high of $47.14. The company's 50-day moving average price is $43.17 and its 200 day moving average price is $42.41.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.34). Cass Information Systems had a net margin of 13.22% and a return on equity of 9.09%. The company had revenue of $44.40 million for the quarter, compared to analysts' expectations of $48.12 million. As a group, sell-side analysts anticipate that Cass Information Systems, Inc will post 2.62 EPS for the current year.

Cass Information Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.96%. Cass Information Systems's dividend payout ratio (DPR) is presently 66.67%.

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.

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Institutional Ownership by Quarter for Cass Information Systems (NASDAQ:CASS)

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