Cass Information Systems, Inc (NASDAQ:CASS) Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC cut its holdings in shares of Cass Information Systems, Inc (NASDAQ:CASS - Free Report) by 3.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 307,768 shares of the business services provider's stock after selling 11,041 shares during the quarter. Tributary Capital Management LLC owned 2.29% of Cass Information Systems worth $13,311,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CASS. Janney Montgomery Scott LLC raised its holdings in Cass Information Systems by 11.0% during 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 in the last quarter. Teacher Retirement System of Texas lifted its stake in 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 worth $773,000 after purchasing an additional 1,764 shares during the period. GAMMA Investing LLC boosted its holdings in Cass Information Systems by 4,823.3% during the first quarter. GAMMA Investing LLC now owns 12,456 shares of the business services provider's stock valued at $539,000 after purchasing an additional 12,203 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Cass Information Systems in the 4th quarter worth approximately $276,000. Finally, Deutsche Bank AG lifted its position in shares of Cass Information Systems by 13.9% during the 4th quarter. Deutsche Bank AG now owns 8,266 shares of the business services provider's stock worth $338,000 after buying an additional 1,007 shares during the period. 59.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CASS shares. Wall Street Zen raised Cass Information Systems from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. 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 report on Wednesday, April 23rd. Finally, Raymond James Financial began coverage on Cass Information Systems in a research report on Tuesday, July 15th. They set an "outperform" rating and a $50.00 target price for the company.

Cass Information Systems Stock Down 4.0%

Shares of NASDAQ:CASS traded down $1.78 during trading on Friday, reaching $43.01. 81,621 shares of the company traded hands, compared to its average volume of 46,056. The firm has a market capitalization of $574.61 million, a PE ratio of 23.12 and a beta of 0.45. Cass Information Systems, Inc has a 52 week low of $37.99 and a 52 week high of $47.14. The company's 50 day moving average is $43.20 and its two-hundred day moving average is $42.34.

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

Cass Information Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Friday, September 5th. Cass Information Systems's dividend payout ratio is presently 66.67%.

Cass Information Systems 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.