Cass Information Systems, Inc $CASS Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC boosted its position in Cass Information Systems, Inc (NASDAQ:CASS) by 5.3% in the 4th quarter, Holdings Channel reports. The fund owned 318,107 shares of the business services provider’s stock after purchasing an additional 16,109 shares during the period. ProShare Advisors LLC’s holdings in Cass Information Systems were worth $13,208,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CASS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Cass Information Systems by 4.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,022 shares of the business services provider’s stock worth $347,000 after purchasing an additional 312 shares during the period. Natixis Advisors LLC increased its stake in Cass Information Systems by 3.4% in the third quarter. Natixis Advisors LLC now owns 11,048 shares of the business services provider’s stock valued at $435,000 after purchasing an additional 367 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Cass Information Systems by 50.7% in the second quarter. BNP Paribas Financial Markets now owns 1,227 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 413 shares during the last quarter. Glenmede Investment Management LP lifted its position in Cass Information Systems by 5.1% during the third quarter. Glenmede Investment Management LP now owns 8,765 shares of the business services provider’s stock worth $345,000 after buying an additional 422 shares during the period. Finally, New York State Common Retirement Fund lifted its position in Cass Information Systems by 18.6% during the third quarter. New York State Common Retirement Fund now owns 3,823 shares of the business services provider’s stock worth $150,000 after buying an additional 600 shares during the period. 59.08% of the stock is currently owned by institutional investors and hedge funds.

Cass Information Systems Stock Up 0.5%

CASS stock opened at $46.33 on Thursday. The company has a market cap of $596.27 million, a price-to-earnings ratio of 17.62 and a beta of 0.45. The business has a fifty day simple moving average of $45.80 and a 200-day simple moving average of $43.98. Cass Information Systems, Inc has a 52 week low of $36.07 and a 52 week high of $52.45.

Cass Information Systems (NASDAQ:CASS) last issued its 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. Cass Information Systems had a return on equity of 13.26% and a net margin of 18.08%.The firm had revenue of $27.95 million for the quarter, compared to analysts’ expectations of $49.40 million. As a group, analysts expect that Cass Information Systems, Inc will post 3 earnings per share for the current fiscal year.

Cass Information Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, June 5th. Cass Information Systems’s payout ratio is currently 48.67%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Weiss Ratings upgraded Cass Information Systems from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, May 7th. Raymond James Financial reiterated an “outperform” rating and set a $50.00 price objective on shares of Cass Information Systems in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Cass Information Systems Company 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.