Sei Investments Co. Has $3.13 Million Holdings in Cass Information Systems, Inc $CASS

Sei Investments Co. grew its position in shares of Cass Information Systems, Inc (NASDAQ:CASS - Free Report) by 98.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,068 shares of the business services provider's stock after acquiring an additional 35,346 shares during the quarter. Sei Investments Co. owned about 0.55% of Cass Information Systems worth $3,128,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of CASS. Vanguard Group Inc. grew its position in Cass Information Systems by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 815,234 shares of the business services provider's stock valued at $32,063,000 after purchasing an additional 15,882 shares during the period. Brown Advisory Inc. lifted its stake in shares of Cass Information Systems by 5,552.6% in the fourth quarter. Brown Advisory Inc. now owns 539,932 shares of the business services provider's stock valued at $22,418,000 after buying an additional 530,380 shares in the last quarter. Heartland Advisors Inc. lifted its stake in shares of Cass Information Systems by 1.2% in the first quarter. Heartland Advisors Inc. now owns 470,524 shares of the business services provider's stock valued at $20,712,000 after buying an additional 5,485 shares in the last quarter. Speece Thorson Capital Group Inc. grew its holdings in shares of Cass Information Systems by 3.9% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 364,597 shares of the business services provider's stock valued at $15,138,000 after buying an additional 13,524 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Cass Information Systems by 5.3% during the fourth quarter. ProShare Advisors LLC now owns 318,107 shares of the business services provider's stock valued at $13,208,000 after buying an additional 16,109 shares during the last quarter. 59.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CASS shares. Raymond James Financial upped their target price on shares of Cass Information Systems from $52.00 to $56.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Piper Sandler reissued a "neutral" rating and set a $61.00 price objective (up from $52.00) on shares of Cass Information Systems in a report on Thursday. Weiss Ratings reissued a "buy (b)" rating on shares of Cass Information Systems in a research note on Tuesday. Finally, Zacks Research upgraded Cass Information Systems from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Cass Information Systems has a consensus rating of "Buy" and an average target price of $58.50.

Cass Information Systems Trading Down 0.2%

Shares of CASS opened at $57.99 on Friday. The stock has a 50 day moving average of $51.81 and a 200 day moving average of $47.66. The company has a market capitalization of $742.85 million, a price-to-earnings ratio of 20.86 and a beta of 0.41. Cass Information Systems, Inc has a 12 month low of $36.07 and a 12 month high of $58.88.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The business services provider reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.01). The business had revenue of $27.04 million during the quarter, compared to analysts' expectations of $51.02 million. Cass Information Systems had a return on equity of 14.89% and a net margin of 18.45%. As a group, equities research analysts predict that Cass Information Systems, Inc will post 2.99 earnings per share for the current year.

Cass Information Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, September 4th. Cass Information Systems's payout ratio is presently 46.04%.

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. The company also processes and pays facility-related invoices, such as electricity, gas, waste, and telecommunications expenses; and provides telecom expense management solutions, as well as church management software solution and on-line platform to provide generosity services for faith-based and non-profit organizations.

Want to see what other hedge funds are holding CASS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cass Information Systems, Inc (NASDAQ:CASS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source