AQR Capital Management LLC lifted its stake in Cass Information Systems (NASDAQ:CASS) by 12.1% in the second quarter, Holdings Channel.com reports. The firm owned 5,480 shares of the business services provider’s stock after acquiring an additional 591 shares during the quarter. AQR Capital Management LLC’s holdings in Cass Information Systems were worth $266,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aperio Group LLC purchased a new stake in shares of Cass Information Systems in the second quarter worth approximately $189,000. Bank of Montreal Can lifted its position in shares of Cass Information Systems by 41.1% in the second quarter. Bank of Montreal Can now owns 5,819 shares of the business services provider’s stock worth $283,000 after purchasing an additional 1,694 shares in the last quarter. US Bancorp DE lifted its position in shares of Cass Information Systems by 5.4% in the second quarter. US Bancorp DE now owns 5,892 shares of the business services provider’s stock worth $285,000 after purchasing an additional 300 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Cass Information Systems in the first quarter worth approximately $309,000. Finally, Buckingham Asset Management LLC purchased a new stake in shares of Cass Information Systems in the second quarter worth approximately $359,000. 54.21% of the stock is owned by institutional investors and hedge funds.
Separately, BidaskClub raised shares of Cass Information Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th.
NASDAQ CASS opened at $52.17 on Friday. The company has a 50 day simple moving average of $53.30 and a 200-day simple moving average of $49.06. The firm has a market capitalization of $755.89 million, a price-to-earnings ratio of 25.39 and a beta of 0.58. Cass Information Systems has a 52-week low of $44.35 and a 52-week high of $60.68.
Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.52 earnings per share (EPS) for the quarter. The business had revenue of $39.39 million during the quarter. Cass Information Systems had a net margin of 19.85% and a return on equity of 13.07%.
The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Friday, August 30th.
About Cass Information Systems
Cass Information Systems, Inc provides payment and information processing services to manufacturing, distribution, and retail enterprises in the United States. It operates through two segments, Information Services and Banking Services. The company's services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information.
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