GSA Capital Partners LLP Makes New Investment in Cass Information Systems, Inc $CASS

GSA Capital Partners LLP purchased a new stake in Cass Information Systems, Inc (NASDAQ:CASS) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 13,389 shares of the business services provider’s stock, valued at approximately $687,000. GSA Capital Partners LLP owned approximately 0.10% of Cass Information Systems at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CASS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Cass Information Systems by 4.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,022 shares of the business services provider’s stock valued at $347,000 after buying an additional 312 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of Cass Information Systems by 3.4% in the 3rd quarter. Natixis Advisors LLC now owns 11,048 shares of the business services provider’s stock worth $435,000 after purchasing an additional 367 shares during the period. BNP Paribas Financial Markets raised its stake in shares of 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 buying an additional 413 shares during the period. Glenmede Investment Management LP raised its stake in Cass Information Systems by 5.1% in the 3rd quarter. Glenmede Investment Management LP now owns 8,765 shares of the business services provider’s stock valued at $345,000 after acquiring an additional 422 shares during the period. Finally, Invesco Ltd. raised its position in shares of Cass Information Systems by 3.1% in the fourth quarter. Invesco Ltd. now owns 18,761 shares of the business services provider’s stock valued at $779,000 after purchasing an additional 563 shares during the period. 59.08% of the stock is owned by institutional investors and hedge funds.

Cass Information Systems Price Performance

NASDAQ:CASS opened at $56.70 on Thursday. The company has a market capitalization of $726.33 million, a PE ratio of 20.40 and a beta of 0.41. Cass Information Systems, Inc has a 1-year low of $36.07 and a 1-year high of $59.63. The firm’s 50-day moving average price is $53.48 and its 200-day moving average price is $48.49.

Cass Information Systems (NASDAQ:CASS) last released its earnings results on Thursday, July 23rd. The business services provider reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.01). Cass Information Systems had a net margin of 18.45% and a return on equity of 14.89%. The business had revenue of $27.04 million for the quarter, compared to analysts’ expectations of $51.02 million. Equities analysts anticipate that Cass Information Systems, Inc will post 2.99 EPS for the current fiscal year.

Cass Information Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, September 4th. Cass Information Systems’s dividend payout ratio (DPR) is currently 46.04%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Zacks Research cut Cass Information Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Weiss Ratings restated a “buy (b)” rating on shares of Cass Information Systems in a research report on Tuesday, August 4th. Raymond James Financial boosted their target price on Cass Information Systems from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Finally, Piper Sandler reissued a “neutral” rating and issued a $61.00 price target (up from $52.00) on shares of Cass Information Systems in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Cass Information Systems has a consensus rating of “Moderate Buy” and a consensus price target of $58.50.

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.