Jag Capital Management LLC Purchases Shares of 25,498 Cass Information Systems, Inc. (NASDAQ:CASS)

Jag Capital Management LLC bought a new stake in Cass Information Systems, Inc. (NASDAQ:CASS - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 25,498 shares of the business services provider's stock, valued at approximately $1,149,000. Jag Capital Management LLC owned about 0.19% of Cass Information Systems as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CASS. Global Retirement Partners LLC bought a new position in Cass Information Systems in the 4th quarter valued at about $114,000. SG Americas Securities LLC bought a new position in shares of Cass Information Systems during the fourth quarter worth approximately $173,000. PNC Financial Services Group Inc. lifted its holdings in Cass Information Systems by 7.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,725 shares of the business services provider's stock worth $251,000 after purchasing an additional 490 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Cass Information Systems in the 4th quarter valued at $390,000. Finally, International Assets Investment Management LLC bought a new stake in Cass Information Systems in the 4th quarter valued at $4,570,000. Institutional investors own 59.08% of the company's stock.

Wall Street Analysts Forecast Growth

CASS has been the subject of a number of recent research reports. Piper Sandler raised shares of Cass Information Systems from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $45.00 to $51.00 in a research report on Monday, February 12th. StockNews.com downgraded Cass Information Systems from a "buy" rating to a "hold" rating in a research note on Saturday, April 27th. Finally, TheStreet lowered shares of Cass Information Systems from a "b-" rating to a "c" rating in a report on Thursday, January 25th.

Cass Information Systems Stock Up 0.3 %

Shares of CASS traded up $0.15 during midday trading on Friday, hitting $45.67. The company's stock had a trading volume of 26,300 shares, compared to its average volume of 39,824. Cass Information Systems, Inc. has a one year low of $35.50 and a one year high of $50.25. The stock has a market capitalization of $622.94 million, a price-to-earnings ratio of 20.81 and a beta of 0.75. The company's fifty day simple moving average is $45.55 and its two-hundred day simple moving average is $44.20.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last posted its earnings results on Thursday, April 18th. The business services provider reported $0.52 EPS for the quarter, missing analysts' consensus estimates of $0.59 by ($0.07). Cass Information Systems had a return on equity of 13.67% and a net margin of 15.21%. The company had revenue of $49.68 million during the quarter, compared to the consensus estimate of $50.68 million. On average, research analysts predict that Cass Information Systems, Inc. will post 2.35 earnings per share for the current year.

Cass Information Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.20 annualized dividend and a dividend yield of 2.63%. Cass Information Systems's dividend payout ratio (DPR) is presently 54.79%.

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.