ProShare Advisors LLC Boosts Holdings in Cass Information Systems, Inc $CASS

ProShare Advisors LLC boosted its stake in Cass Information Systems, Inc (NASDAQ:CASS) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 318,107 shares of the business services provider’s stock after acquiring an additional 16,109 shares during the period. ProShare Advisors LLC owned about 2.43% of Cass Information Systems worth $13,208,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Triumph Capital Management acquired a new stake in Cass Information Systems during the 3rd quarter worth $25,000. New York State Teachers Retirement System acquired a new position in Cass Information Systems in the fourth quarter valued at $46,000. BNP Paribas Financial Markets raised its holdings 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 last quarter. Russell Investments Group Ltd. raised its holdings in shares of Cass Information Systems by 1,206.6% in the third quarter. Russell Investments Group Ltd. now owns 1,594 shares of the business services provider’s stock valued at $63,000 after buying an additional 1,472 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Cass Information Systems by 49.4% during the third quarter. PNC Financial Services Group Inc. now owns 1,840 shares of the business services provider’s stock worth $72,000 after buying an additional 608 shares during the period. Institutional investors and hedge funds own 59.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CASS. Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 price target on shares of Cass Information Systems in a report on Thursday, January 22nd. Weiss Ratings raised shares of Cass Information Systems from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Cass Information Systems currently has an average rating of “Moderate Buy” and an average target price of $50.00.

Cass Information Systems Stock Up 0.5%

Cass Information Systems stock opened at $46.33 on Thursday. The firm has a market capitalization of $596.27 million, a PE ratio of 17.62 and a beta of 0.45. Cass Information Systems, Inc has a 52 week low of $36.07 and a 52 week high of $52.45. The firm’s 50-day simple moving average is $45.80 and its 200 day simple moving average is $43.98.

Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings results on Thursday, April 23rd. The business services provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. The company had revenue of $27.95 million during the quarter, compared to the consensus estimate of $49.40 million. Cass Information Systems had a return on equity of 13.26% and a net margin of 18.08%. On average, research analysts expect that Cass Information Systems, Inc will post 3 EPS for the current fiscal year.

Cass Information Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, June 5th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, June 5th. Cass Information Systems’s dividend payout ratio is 48.67%.

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.