Sei Investments Co. Grows Stake in Cass Information Systems, Inc $CASS

Sei Investments Co. boosted its position in Cass Information Systems, Inc (NASDAQ:CASS) by 98.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,068 shares of the business services provider’s stock after purchasing an additional 35,346 shares during the period. Sei Investments Co.’s holdings in Cass Information Systems were worth $3,128,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CASS. Triumph Capital Management purchased a new stake in Cass Information Systems in the third quarter worth $25,000. Kingdom Financial Group LLC. purchased a new position in shares of Cass Information Systems during the 4th quarter valued at $26,000. New York State Teachers Retirement System purchased a new position in shares of Cass Information Systems during the 4th quarter valued at $46,000. BNP Paribas Financial Markets grew its stake in shares of Cass Information Systems by 50.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the business services provider’s stock worth $53,000 after acquiring an additional 413 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Cass Information Systems by 1,206.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,594 shares of the business services provider’s stock worth $63,000 after acquiring an additional 1,472 shares during the period. 59.08% of the stock is owned by institutional investors.

Cass Information Systems Price Performance

CASS opened at $57.99 on Friday. The firm has a market capitalization of $742.85 million, a P/E ratio of 20.86 and a beta of 0.41. Cass Information Systems, Inc has a one year low of $36.07 and a one year high of $58.88. The company has a fifty day moving average price of $51.81 and a 200-day moving average price of $47.66.

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 analysts’ consensus estimates of $0.72 by ($0.01). The business had revenue of $27.04 million during the quarter, compared to analysts’ expectations of $51.02 million. Cass Information Systems had a return on equity of 14.89% and a net margin of 18.45%. On average, analysts expect that Cass Information Systems, Inc will post 2.99 earnings per share for the current year.

Cass Information Systems Announces Dividend

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

Analyst Ratings Changes

CASS has been the topic of a number of research reports. Weiss Ratings restated a “buy (b)” rating on shares of Cass Information Systems in a research note on Tuesday. Piper Sandler reiterated a “neutral” rating and set a $61.00 target price (up from $52.00) on shares of Cass Information Systems in a research report on Thursday. Zacks Research upgraded shares of Cass Information Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Finally, Raymond James Financial boosted their price target on shares of Cass Information Systems from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cass Information Systems currently has an average rating of “Buy” and a consensus price target of $58.50.

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.