Renaissance Technologies LLC Has $2.46 Million Position in Cass Information Systems, Inc $CASS

Renaissance Technologies LLC lessened its stake in Cass Information Systems, Inc (NASDAQ:CASS) by 27.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,860 shares of the business services provider’s stock after selling 21,600 shares during the period. Renaissance Technologies LLC’s holdings in Cass Information Systems were worth $2,459,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Brown Advisory Inc. boosted its position in Cass Information Systems by 5,552.6% in the 4th quarter. Brown Advisory Inc. now owns 539,932 shares of the business services provider’s stock valued at $22,418,000 after buying an additional 530,380 shares during the last quarter. Acumen Wealth Advisors LLC bought a new stake in shares of Cass Information Systems during the fourth quarter worth $4,660,000. Two Sigma Investments LP lifted its stake in shares of Cass Information Systems by 1,190.2% during the third quarter. Two Sigma Investments LP now owns 71,749 shares of the business services provider’s stock valued at $2,822,000 after acquiring an additional 66,188 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of Cass Information Systems by 85.6% during the fourth quarter. Teacher Retirement System of Texas now owns 85,833 shares of the business services provider’s stock valued at $3,564,000 after acquiring an additional 39,582 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Cass Information Systems by 70.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 92,973 shares of the business services provider’s stock valued at $3,860,000 after acquiring an additional 38,515 shares during the last quarter. Institutional investors and hedge funds own 59.08% of the company’s stock.

Cass Information Systems Price Performance

NASDAQ CASS opened at $57.29 on Tuesday. The firm has a market cap of $733.88 million, a P/E ratio of 20.61 and a beta of 0.41. The stock’s 50-day moving average is $52.03 and its 200-day moving average is $47.81. Cass Information Systems, Inc has a one year low of $36.07 and a one year high of $58.88.

Cass Information Systems (NASDAQ:CASS) last issued its quarterly earnings data on Thursday, July 23rd. The business services provider reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.01). Cass Information Systems had a return on equity of 14.89% and a net margin of 18.45%.The company had revenue of $27.04 million for the quarter, compared to the consensus estimate of $51.02 million. Equities analysts anticipate that Cass Information Systems, Inc will post 2.99 EPS for the current year.

Cass Information Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, September 4th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.2%. Cass Information Systems’s payout ratio is currently 46.04%.

Analyst Ratings Changes

A number of brokerages recently commented on CASS. Weiss Ratings reiterated a “buy (b)” rating on shares of Cass Information Systems in a research report on Tuesday, August 4th. Raymond James Financial raised their target price on shares of Cass Information Systems from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Piper Sandler reiterated a “neutral” rating and set a $61.00 price target (up from $52.00) on shares of Cass Information Systems in a research report on Thursday. Finally, Zacks Research raised shares of Cass Information Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Cass Information Systems presently has a consensus rating of “Buy” and a consensus target price of $58.50.

Cass Information Systems 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. 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.