GSA Capital Partners LLP Acquires New Stake in Cass Information Systems, Inc $CASS

GSA Capital Partners LLP bought a new stake in shares of Cass Information Systems, Inc (NASDAQ:CASS) in the second quarter, HoldingsChannel reports. The institutional investor bought 13,389 shares of the business services provider’s stock, valued at approximately $687,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Triumph Capital Management bought a new stake in shares of Cass Information Systems during the 3rd quarter valued at $25,000. Kingdom Financial Group LLC. purchased a new stake in shares of Cass Information Systems in the fourth quarter worth about $26,000. New York State Teachers Retirement System purchased a new stake in shares of Cass Information Systems during the 4th quarter worth approximately $46,000. BNP Paribas Financial Markets raised its stake in Cass Information Systems by 50.7% during 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 in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Cass Information Systems by 1,206.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,594 shares of the business services provider’s stock valued at $63,000 after acquiring an additional 1,472 shares during the last quarter. Institutional investors own 59.08% of the company’s stock.

Cass Information Systems Price Performance

Shares of CASS stock opened at $56.70 on Thursday. Cass Information Systems, Inc has a 12 month low of $36.07 and a 12 month high of $59.63. The company has a market capitalization of $726.33 million, a PE ratio of 20.40 and a beta of 0.41. The firm’s 50-day moving average is $53.48 and its two-hundred day moving average is $48.49.

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 for the quarter, missing the consensus estimate of $0.72 by ($0.01). Cass Information Systems had a return on equity of 14.89% and a net margin of 18.45%.The business had revenue of $27.04 million during the quarter, compared to analysts’ expectations of $51.02 million. Sell-side analysts forecast that Cass Information Systems, Inc will post 2.99 EPS for the current year.

Cass Information Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, September 4th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, September 4th. Cass Information Systems’s dividend payout ratio is currently 46.04%.

Wall Street Analyst Weigh In

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

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.