156,527 Shares in Cass Information Systems, Inc $CASS Bought by Punch & Associates Investment Management Inc.

Punch & Associates Investment Management Inc. purchased a new position in Cass Information Systems, Inc (NASDAQ:CASS) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 156,527 shares of the business services provider’s stock, valued at approximately $8,033,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Triumph Capital Management purchased a new stake in shares of Cass Information Systems during the third quarter valued at approximately $25,000. Kingdom Financial Group LLC. purchased a new stake in Cass Information Systems during the 4th quarter valued at $26,000. New York State Teachers Retirement System purchased a new position in shares of Cass Information Systems in the fourth quarter valued at about $46,000. BNP Paribas Financial Markets boosted its holdings in shares of 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 worth $53,000 after purchasing an additional 413 shares during the period. Finally, Legal & General Group Plc purchased a new stake in shares of Cass Information Systems during the second quarter worth about $59,000. Institutional investors own 59.08% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Cass Information Systems Trading Down 0.5%

Shares of Cass Information Systems stock opened at $57.06 on Thursday. Cass Information Systems, Inc has a 12 month low of $36.07 and a 12 month high of $59.63. The firm has a market capitalization of $730.94 million, a P/E ratio of 20.53 and a beta of 0.41. The business has a fifty day simple moving average of $54.30 and a two-hundred day simple moving average of $48.88.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings data on Thursday, July 23rd. The business services provider reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates 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. Analysts predict that Cass Information Systems, Inc will post 2.99 earnings per share for the current year.

Cass Information Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, September 4th will be paid a $0.32 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.28 annualized dividend and a dividend yield of 2.2%. Cass Information Systems’s dividend payout ratio is presently 46.04%.

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.