Tributary Capital Management LLC Trims Stock Position in Cass Information Systems, Inc (NASDAQ:CASS)

Tributary Capital Management LLC lowered its holdings in Cass Information Systems, Inc (NASDAQ:CASS - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 307,768 shares of the business services provider's stock after selling 11,041 shares during the quarter. Tributary Capital Management LLC owned approximately 2.29% of Cass Information Systems worth $13,311,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Cass Information Systems by 7.7% during the 4th quarter. Bank of New York Mellon Corp now owns 87,456 shares of the business services provider's stock worth $3,578,000 after acquiring an additional 6,236 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Cass Information Systems by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,325 shares of the business services provider's stock worth $4,268,000 after acquiring an additional 716 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Cass Information Systems during the 4th quarter worth approximately $276,000. Commonwealth Equity Services LLC raised its stake in shares of Cass Information Systems by 7.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 34,339 shares of the business services provider's stock worth $1,405,000 after acquiring an additional 2,252 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Cass Information Systems during the 4th quarter worth approximately $207,000. Institutional investors own 59.08% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on CASS shares. Piper Sandler dropped their target price on shares of Cass Information Systems from $47.00 to $46.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Wall Street Zen raised shares of Cass Information Systems from a "sell" rating to a "hold" rating in a research report on Sunday. Finally, Raymond James Financial started coverage on shares of Cass Information Systems in a research report on Tuesday. They set an "outperform" rating and a $50.00 target price on the stock.

Cass Information Systems Stock Performance

Shares of NASDAQ CASS traded up $0.18 during mid-day trading on Thursday, reaching $44.79. The company's stock had a trading volume of 64,181 shares, compared to its average volume of 46,247. The stock has a 50-day moving average of $43.14 and a two-hundred day moving average of $42.29. The stock has a market capitalization of $598.39 million, a P/E ratio of 29.47 and a beta of 0.45. Cass Information Systems, Inc has a 1-year low of $37.99 and a 1-year high of $47.14.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last announced its earnings results on Thursday, April 17th. The business services provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. The company had revenue of $46.41 million during the quarter, compared to analyst estimates of $51.49 million. Cass Information Systems had a net margin of 10.71% and a return on equity of 8.84%. Analysts predict that Cass Information Systems, Inc will post 2.62 EPS for the current fiscal year.

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.