Cass Information Systems (NASDAQ:CASS) Sets New 52-Week High – Here’s What Happened

Cass Information Systems, Inc (NASDAQ:CASS) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $53.00 and last traded at $51.1850, with a volume of 101 shares. The stock had previously closed at $51.57.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Weiss Ratings raised shares of Cass Information Systems from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, May 7th. Piper Sandler set a $52.00 price objective on shares of Cass Information Systems and gave the stock a “neutral” rating in a research report on Friday, June 12th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Cass Information Systems has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

Cass Information Systems Price Performance

The company’s fifty day moving average price is $47.59 and its 200 day moving average price is $45.26. The company has a market cap of $662.91 million, a PE ratio of 19.46 and a beta of 0.43.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings data on Thursday, April 23rd. The business services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.63 by $0.03. Cass Information Systems had a net margin of 18.08% and a return on equity of 13.26%. The firm had revenue of $27.95 million during the quarter, compared to analyst estimates of $49.40 million. On average, analysts forecast that Cass Information Systems, Inc will post 2.98 EPS for the current year.

Cass Information Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, June 5th. Cass Information Systems’s dividend payout ratio is 48.67%.

Institutional Trading of Cass Information Systems

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Cass Information Systems by 2.0% in the third quarter. Vanguard Group Inc. now owns 815,234 shares of the business services provider’s stock valued at $32,063,000 after acquiring an additional 15,882 shares during the last quarter. Brown Advisory Inc. lifted its stake in Cass Information Systems by 5,552.6% in the fourth quarter. Brown Advisory Inc. now owns 539,932 shares of the business services provider’s stock valued at $22,418,000 after purchasing an additional 530,380 shares during the last quarter. Heartland Advisors Inc. lifted its stake in Cass Information Systems by 1.2% in the first quarter. Heartland Advisors Inc. now owns 470,524 shares of the business services provider’s stock valued at $20,712,000 after purchasing an additional 5,485 shares during the last quarter. Speece Thorson Capital Group Inc. grew its holdings in Cass Information Systems by 3.9% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 364,597 shares of the business services provider’s stock valued at $15,138,000 after purchasing an additional 13,524 shares during the period. Finally, ProShare Advisors LLC grew its holdings in Cass Information Systems by 5.3% during the fourth quarter. ProShare Advisors LLC now owns 318,107 shares of the business services provider’s stock valued at $13,208,000 after purchasing an additional 16,109 shares during the period. Hedge funds and other institutional investors own 59.08% of the company’s stock.

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. The company also processes and pays facility-related invoices, such as electricity, gas, waste, and telecommunications expenses; and provides telecom expense management solutions, as well as church management software solution and on-line platform to provide generosity services for faith-based and non-profit organizations.