Cass Information Systems (NASDAQ:CASS) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Cass Information Systems (NASDAQ:CASS – Get Rating) in a research report released on Thursday morning. The firm issued a hold rating on the business services provider’s stock.

Separately, Piper Sandler initiated coverage on shares of Cass Information Systems in a research note on Tuesday, December 6th. They issued a neutral rating and a $45.00 price objective for the company.

Cass Information Systems Trading Down 3.4 %

Shares of NASDAQ CASS opened at $45.16 on Thursday. Cass Information Systems has a 1-year low of $31.84 and a 1-year high of $51.48. The firm has a market capitalization of $619.14 million, a P/E ratio of 17.85 and a beta of 0.63. The firm’s 50-day moving average price is $48.64 and its 200-day moving average price is $43.42.

Cass Information Systems (NASDAQ:CASS – Get Rating) last posted its earnings results on Thursday, January 19th. The business services provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.04). Cass Information Systems had a return on equity of 17.01% and a net margin of 19.13%. The business had revenue of $48.95 million during the quarter, compared to analyst estimates of $49.50 million. Equities research analysts forecast that Cass Information Systems will post 3.07 EPS for the current year.

Cass Information Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Friday, March 3rd were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.57%. The ex-dividend date was Thursday, March 2nd. Cass Information Systems’s dividend payout ratio (DPR) is presently 45.85%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Moneta Group Investment Advisors LLC boosted its holdings in Cass Information Systems by 108,000.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 45,277,674 shares of the business services provider’s stock worth $2,074,623,000 after buying an additional 45,235,789 shares during the period. BlackRock Inc. boosted its holdings in Cass Information Systems by 1.2% in the 1st quarter. BlackRock Inc. now owns 1,001,903 shares of the business services provider’s stock valued at $36,979,000 after purchasing an additional 11,414 shares during the period. Vanguard Group Inc. boosted its holdings in Cass Information Systems by 12.7% in the 3rd quarter. Vanguard Group Inc. now owns 863,432 shares of the business services provider’s stock valued at $29,952,000 after purchasing an additional 97,167 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Cass Information Systems by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 553,847 shares of the business services provider’s stock valued at $25,377,000 after purchasing an additional 2,790 shares during the period. Finally, State Street Corp boosted its holdings in Cass Information Systems by 0.6% in the 3rd quarter. State Street Corp now owns 403,642 shares of the business services provider’s stock valued at $14,002,000 after purchasing an additional 2,304 shares during the period. 56.15% of the stock is owned by institutional investors.

About Cass Information Systems

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Cass Information Systems, Inc engages in the provision of integrated information and payment management solutions. It operates through the following segments: Information Services, Banking Services, and Corporate, Eliminations, and Other. The Information Services segment offers transportation, energy, telecommunication, and environmental invoice processing and payment services to large corporations.