Cass Information Systems, Inc $CASS Shares Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its holdings in Cass Information Systems, Inc (NASDAQ:CASS) by 214.9% during the first quarter, Holdings Channel.com reports. The firm owned 25,020 shares of the business services provider’s stock after purchasing an additional 17,074 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Cass Information Systems were worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas lifted its holdings in shares of Cass Information Systems by 85.6% in the 4th quarter. Teacher Retirement System of Texas now owns 85,833 shares of the business services provider’s stock valued at $3,564,000 after buying an additional 39,582 shares during the period. Speece Thorson Capital Group Inc. raised its position in Cass Information Systems by 3.9% in the fourth quarter. Speece Thorson Capital Group Inc. now owns 364,597 shares of the business services provider’s stock worth $15,138,000 after acquiring an additional 13,524 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Cass Information Systems by 174.9% in the third quarter. JPMorgan Chase & Co. now owns 18,687 shares of the business services provider’s stock valued at $735,000 after acquiring an additional 11,890 shares during the period. ProShare Advisors LLC lifted its holdings in Cass Information Systems by 5.3% in the fourth quarter. ProShare Advisors LLC now owns 318,107 shares of the business services provider’s stock valued at $13,208,000 after acquiring an additional 16,109 shares during the period. Finally, Emmett Investment Management LP boosted its position in shares of Cass Information Systems by 14.9% during the 3rd quarter. Emmett Investment Management LP now owns 134,995 shares of the business services provider’s stock worth $5,286,000 after purchasing an additional 17,520 shares in the last quarter. Institutional investors and hedge funds own 59.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CASS. Raymond James Financial upped their price target on shares of Cass Information Systems from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Piper Sandler set a $52.00 price objective on shares of Cass Information Systems and gave the stock a “neutral” rating in a report on Friday, June 12th. Finally, Weiss Ratings raised shares of Cass Information Systems from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.00.

Cass Information Systems Price Performance

CASS traded up $0.34 during trading on Friday, reaching $52.05. 54,897 shares of the stock were exchanged, compared to its average volume of 89,367. The company has a market capitalization of $669.94 million, a price-to-earnings ratio of 19.79 and a beta of 0.42. Cass Information Systems, Inc has a 1 year low of $36.07 and a 1 year high of $53.19. The business’s 50 day moving average price is $48.44 and its two-hundred day moving average price is $45.83.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings results on Thursday, April 23rd. The business services provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.03. The business had revenue of $27.95 million during the quarter, compared to analysts’ expectations of $49.40 million. Cass Information Systems had a return on equity of 13.26% and a net margin of 18.08%. On average, analysts anticipate that Cass Information Systems, Inc will post 3 EPS for the current year.

Cass Information Systems Announces Dividend

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

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.