Nuveen LLC Takes $3.51 Million Position in Cass Information Systems, Inc $CASS

Key Points

• Nuveen LLC has invested approximately $3.51 million in Cass Information Systems, acquiring 81,097 shares and now holds about 0.61% of the company.
• Analysts have given Cass Information Systems a consensus rating of "Buy" with a target price of $48.00, following a recent "outperform" rating from Raymond James Financial.
• Cass Information Systems announced a quarterly dividend of $0.31, yielding 2.9%, with the ex-dividend date set for September 5th.

Nuveen LLC bought a new position in Cass Information Systems, Inc (NASDAQ:CASS - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 81,097 shares of the business services provider's stock, valued at approximately $3,507,000. Nuveen LLC owned 0.61% of Cass Information Systems as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Cass Information Systems by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 801,473 shares of the business services provider's stock worth $34,664,000 after purchasing an additional 4,504 shares during the period. Heartland Advisors Inc. raised its holdings in Cass Information Systems by 13.7% in the 1st quarter. Heartland Advisors Inc. now owns 473,926 shares of the business services provider's stock worth $20,497,000 after purchasing an additional 56,979 shares during the period. Fenimore Asset Management Inc raised its holdings in Cass Information Systems by 0.8% in the 1st quarter. Fenimore Asset Management Inc now owns 338,882 shares of the business services provider's stock worth $14,657,000 after purchasing an additional 2,850 shares during the period. Northern Trust Corp raised its holdings in Cass Information Systems by 3.7% in the 4th quarter. Northern Trust Corp now owns 136,568 shares of the business services provider's stock worth $5,587,000 after purchasing an additional 4,836 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Cass Information Systems by 1.9% in the 4th quarter. Ameriprise Financial Inc. now owns 118,070 shares of the business services provider's stock worth $4,830,000 after purchasing an additional 2,221 shares during the period. 59.08% of the stock is owned by institutional investors.

Cass Information Systems Price Performance

Shares of Cass Information Systems stock traded up $0.10 during trading on Tuesday, reaching $43.22. 48,946 shares of the stock traded hands, compared to its average volume of 59,376. The company has a market capitalization of $571.37 million, a price-to-earnings ratio of 23.24 and a beta of 0.45. Cass Information Systems, Inc has a 52-week low of $38.01 and a 52-week high of $47.14. The business has a fifty day simple moving average of $43.04 and a two-hundred day simple moving average of $42.49.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The business services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.34). The company had revenue of $44.40 million during the quarter, compared to analysts' expectations of $48.12 million. Cass Information Systems had a return on equity of 9.02% and a net margin of 13.22%. On average, research 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 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 of this dividend is Friday, September 5th. This represents a $1.24 annualized dividend and a yield of 2.9%. Cass Information Systems's dividend payout ratio (DPR) is presently 66.67%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CASS. Raymond James Financial initiated coverage on Cass Information Systems in a report on Tuesday, July 15th. They issued an "outperform" rating and a $50.00 target price on the stock. Wall Street Zen upgraded Cass Information Systems from a "sell" rating to a "hold" rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $48.00.

About Cass Information Systems

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.