Cass Information Systems (CASS) Upgraded at BidaskClub

BidaskClub upgraded shares of Cass Information Systems (NASDAQ:CASS) from a sell rating to a hold rating in a report issued on Saturday morning.

Separately, ValuEngine raised Cass Information Systems from a hold rating to a buy rating in a research note on Thursday, July 5th.

Shares of CASS opened at $65.27 on Friday. Cass Information Systems has a 52-week low of $54.37 and a 52-week high of $74.49. The company has a market capitalization of $800.61 million, a price-to-earnings ratio of 27.31 and a beta of 1.05.

Cass Information Systems (NASDAQ:CASS) last issued its quarterly earnings results on Thursday, July 26th. The business services provider reported $0.60 earnings per share (EPS) for the quarter. Cass Information Systems had a return on equity of 13.18% and a net margin of 19.62%. The firm had revenue of $36.36 million for the quarter.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Tuesday, September 4th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Friday, August 31st.

A number of institutional investors and hedge funds have recently modified their holdings of CASS. BlackRock Inc. lifted its stake in Cass Information Systems by 7.3% in the second quarter. BlackRock Inc. now owns 771,994 shares of the business services provider’s stock valued at $53,128,000 after buying an additional 52,831 shares during the period. Martingale Asset Management L P acquired a new position in shares of Cass Information Systems during the second quarter worth approximately $2,423,000. Dimensional Fund Advisors LP raised its position in shares of Cass Information Systems by 4.7% during the first quarter. Dimensional Fund Advisors LP now owns 420,044 shares of the business services provider’s stock worth $24,997,000 after purchasing an additional 18,830 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Cass Information Systems by 73.6% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 32,744 shares of the business services provider’s stock worth $2,253,000 after purchasing an additional 13,879 shares during the period. Finally, Bessemer Group Inc. acquired a new position in shares of Cass Information Systems during the second quarter worth approximately $867,000. 52.60% of the stock is currently owned by hedge funds and other institutional investors.

About Cass Information Systems

Cass Information Systems, Inc provides payment and information processing services to manufacturing, distribution, and retail enterprises in the United States. It operates through two segments, Information Services and Banking Services. The company's services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information.

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