Tributary Capital Management LLC Cuts Position in Cass Information Systems, Inc $CASS

Key Points

• Tributary Capital Management LLC has decreased its stake in Cass Information Systems, Inc by 7.0%, now owning approximately 2.14% of the company, valued at about $12.4 million.
• Recent analyst ratings reflect mixed sentiments, with Zacks lowering the stock to a "strong sell," while Raymond James maintains an "outperform" rating with a price objective of $47.00.
• The stock has seen a price fluctuation with a 12-month range between $36.07 and $47.14, currently trading around $38.04.

Tributary Capital Management LLC decreased its holdings in Cass Information Systems, Inc (NASDAQ:CASS - Free Report) by 7.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 286,153 shares of the business services provider's stock after selling 21,615 shares during the period. Tributary Capital Management LLC owned approximately 2.14% of Cass Information Systems worth $12,433,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its holdings in Cass Information Systems by 11.0% in the first quarter. Janney Montgomery Scott LLC now owns 6,669 shares of the business services provider's stock valued at $288,000 after buying an additional 660 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Cass Information Systems by 10.9% during the first quarter. Teacher Retirement System of Texas now owns 17,883 shares of the business services provider's stock valued at $773,000 after purchasing an additional 1,764 shares during the period. CWM LLC raised its stake in shares of Cass Information Systems by 275.9% during the first quarter. CWM LLC now owns 1,947 shares of the business services provider's stock valued at $84,000 after purchasing an additional 1,429 shares during the period. Uniplan Investment Counsel Inc. raised its stake in shares of Cass Information Systems by 114.4% during the first quarter. Uniplan Investment Counsel Inc. now owns 90,919 shares of the business services provider's stock valued at $3,932,000 after purchasing an additional 48,516 shares during the period. Finally, KLP Kapitalforvaltning AS raised its stake in shares of Cass Information Systems by 557.6% during the second quarter. KLP Kapitalforvaltning AS now owns 18,280 shares of the business services provider's stock valued at $794,000 after purchasing an additional 15,500 shares during the period. Hedge funds and other institutional investors own 59.08% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CASS shares. Zacks Research lowered shares of Cass Information Systems from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 7th. Wall Street Zen upgraded shares of Cass Information Systems from a "sell" rating to a "hold" rating in a research note on Monday, August 18th. Weiss Ratings reiterated a "hold (c)" rating on shares of Cass Information Systems in a research note on Wednesday, October 8th. Finally, Raymond James Financial set a $47.00 price objective on shares of Cass Information Systems and gave the company an "outperform" rating in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $46.50.

Cass Information Systems Price Performance

Cass Information Systems stock opened at $38.04 on Thursday. The company has a market cap of $502.89 million, a PE ratio of 20.45 and a beta of 0.46. The company has a fifty day moving average price of $40.91 and a two-hundred day moving average price of $41.73. Cass Information Systems, Inc has a 12 month low of $36.07 and a 12 month high of $47.14.

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.

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