2 weeks Ago By ABMN Staff
LPL Financial LLC boosted its stake in shares of Cass Information Systems, Inc. ( NASDAQ:CASS – Free Report ) by 7.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC).
The fund owned 14,901 shares of the business services provider’s stock after acquiring an additional 976 shares during the quarter. LPL Financial LLC’s holdings in Cass Information Systems were worth $610,000 as of its most recent SEC filing. A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock.
KLP Kapitalforvaltning AS bought a new position in shares of Cass Information Systems during the 4th quarter valued at approximately $114,000. Intech Investment Management LLC bought a new position in Cass Information Systems during the fourth quarter valued at $207,000. Royce & Associates LP raised its stake in shares of Cass Information Systems by 3.
3% in the fourth quarter. Royce & Associates LP now owns 265,907 shares of the business services provider’s stock valued at $10,878,000 after acquiring an additional 8,568 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Cass Information Systems by 7.
0% in the 4th quarter. Commonwealth Equity Services LLC now owns 34,339 shares of the business services provider’s stock worth $1,405,000 after acquiring an additional 2,252 shares during the last quarter. Finally, Raymond James Financial Inc.
purchased a new position in shares of Cass Information Systems during the 4th quarter worth about $276,000. 59.08% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets Separately, Piper Sandler reduced their price objective on shares of Cass Information Systems from $47.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday.
Cass Information Systems Stock Up 0.5 % CASS opened at $40.65 on Thursday.
The business has a fifty day moving average of $42.24 and a 200 day moving average of $42.44.
The stock has a market cap of $547.35 million, a P/E ratio of 29.46 and a beta of 0.
49. Cass Information Systems, Inc. has a 52-week low of $37.
99 and a 52-week high of $47.14. Cass Information Systems ( NASDAQ:CASS – Get Free Report ) last issued its earnings results on Thursday, April 17th.
The business services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.
03. The firm had revenue of $46.41 million during the quarter, compared to analyst estimates of $51.
49 million. Cass Information Systems had a net margin of 9.62% and a return on equity of 8.
25%. Equities analysts anticipate that Cass Information Systems, Inc. will post 2.
62 EPS for the current fiscal year. Cass Information Systems Announces Dividend The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $0.
31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.
05%. The ex-dividend date of this dividend is Tuesday, June 3rd. Cass Information Systems’s dividend payout ratio (DPR) is presently 81.
58%. Cass Information Systems Profile ( Free Report ) 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. Read More Want to see what other hedge funds are holding CASS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cass Information Systems, Inc.
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