Geode Capital Management LLC Has $12.98 Million Stock Holdings in Cass Information Systems, Inc. (NASDAQ:CASS)

Geode Capital Management LLC cut its holdings in shares of Cass Information Systems, Inc. (NASDAQ:CASS - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 317,292 shares of the business services provider's stock after selling 36,863 shares during the period. Geode Capital Management LLC owned approximately 2.34% of Cass Information Systems worth $12,984,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CASS. State Street Corp raised its holdings in Cass Information Systems by 0.8% during the 3rd quarter. State Street Corp now owns 319,177 shares of the business services provider's stock worth $13,239,000 after buying an additional 2,466 shares during the period. Barclays PLC raised its holdings in shares of Cass Information Systems by 364.9% during the third quarter. Barclays PLC now owns 21,938 shares of the business services provider's stock valued at $910,000 after acquiring an additional 17,219 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Cass Information Systems by 140.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,241 shares of the business services provider's stock valued at $964,000 after acquiring an additional 13,593 shares in the last quarter. SG Americas Securities LLC boosted its stake in Cass Information Systems by 30.5% in the 4th quarter. SG Americas Securities LLC now owns 6,295 shares of the business services provider's stock worth $258,000 after purchasing an additional 1,470 shares during the period. Finally, Towneley Capital Management Inc DE purchased a new position in Cass Information Systems during the 4th quarter worth approximately $611,000. 59.08% of the stock is currently owned by institutional investors.

Cass Information Systems Trading Down 1.2 %

NASDAQ:CASS traded down $0.49 on Friday, hitting $40.57. 100,014 shares of the company's stock traded hands, compared to its average volume of 42,183. The firm has a 50-day moving average price of $42.08 and a 200-day moving average price of $42.44. The company has a market cap of $546.28 million, a PE ratio of 29.40 and a beta of 0.49. 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 released its quarterly earnings data on Thursday, April 17th. The business services provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03. The firm had revenue of $46.41 million for the quarter, compared to analyst estimates of $51.49 million. Cass Information Systems had a net margin of 9.62% and a return on equity of 8.25%. On average, research analysts forecast that Cass Information Systems, Inc. will post 2.62 EPS for the current fiscal year.

Cass Information Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Tuesday, June 3rd will be given a dividend of $0.31 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 3.06%. Cass Information Systems's payout ratio is 81.58%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler decreased their target price on Cass Information Systems from $47.00 to $46.00 and set an "overweight" rating for the company in a research report on Wednesday.

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.