Royce & Associates LP Decreases Position in Cass Information Systems, Inc $CASS

Royce & Associates LP decreased its position in Cass Information Systems, Inc (NASDAQ:CASS) by 48.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 77,952 shares of the business services provider’s stock after selling 73,576 shares during the quarter. Royce & Associates LP’s holdings in Cass Information Systems were worth $3,237,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CASS. Two Sigma Investments LP increased its position in shares of Cass Information Systems by 1,190.2% in the third quarter. Two Sigma Investments LP now owns 71,749 shares of the business services provider’s stock valued at $2,822,000 after acquiring an additional 66,188 shares during the period. Teacher Retirement System of Texas increased its position in shares of Cass Information Systems by 85.6% in the fourth quarter. Teacher Retirement System of Texas now owns 85,833 shares of the business services provider’s stock valued at $3,564,000 after acquiring an additional 39,582 shares during the period. First Trust Advisors LP increased its position in shares of Cass Information Systems by 397.9% in the third quarter. First Trust Advisors LP now owns 43,646 shares of the business services provider’s stock valued at $1,717,000 after acquiring an additional 34,880 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Cass Information Systems in the third quarter valued at about $1,049,000. Finally, ProShare Advisors LLC increased its position in shares of Cass Information Systems by 8.6% in the third quarter. ProShare Advisors LLC now owns 301,998 shares of the business services provider’s stock valued at $11,878,000 after acquiring an additional 23,860 shares during the period. Hedge funds and other institutional investors own 59.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Cass Information Systems from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cass Information Systems presently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Cass Information Systems Trading Down 0.6%

CASS stock opened at $46.03 on Friday. The firm’s 50-day moving average price is $46.04 and its two-hundred day moving average price is $44.27. Cass Information Systems, Inc has a 12-month low of $36.07 and a 12-month high of $52.45. The stock has a market capitalization of $592.45 million, a price-to-earnings ratio of 17.50 and a beta of 0.45.

Cass Information Systems (NASDAQ:CASS) last announced 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. The firm had revenue of $27.95 million for the quarter, compared to analyst estimates of $49.40 million. Cass Information Systems had a net margin of 18.08% and a return on equity of 13.26%. Equities analysts predict that Cass Information Systems, Inc will post 3 EPS for the current year.

Cass Information Systems Announces Dividend

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