Royce & Associates LP Sells 73,576 Shares of Cass Information Systems, Inc $CASS

Royce & Associates LP cut its holdings in Cass Information Systems, Inc (NASDAQ:CASS) by 48.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,952 shares of the business services provider’s stock after selling 73,576 shares during the period. Royce & Associates LP owned 0.60% of Cass Information Systems worth $3,237,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Cass Information Systems by 4.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,022 shares of the business services provider’s stock worth $347,000 after buying an additional 312 shares during the period. Natixis Advisors LLC boosted its holdings in 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 buying an additional 367 shares during the period. BNP Paribas Financial Markets boosted its holdings in Cass Information Systems by 50.7% in the 2nd 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 during the period. Glenmede Investment Management LP boosted its holdings 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 purchasing an additional 422 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in Cass Information Systems by 18.6% in the 3rd quarter. New York State Common Retirement Fund now owns 3,823 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 600 shares during the period. 59.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Cass Information Systems from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Cass Information Systems Stock Performance

Cass Information Systems stock opened at $46.03 on Friday. The firm’s fifty day moving average price is $46.04 and its 200-day moving average price is $44.27. The stock has a market cap of $592.45 million, a P/E ratio of 17.50 and a beta of 0.45. Cass Information Systems, Inc has a fifty-two week low of $36.07 and a fifty-two week high of $52.45.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings data on Thursday, April 23rd. The business services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.03. The firm had revenue of $27.95 million for the quarter, compared to analysts’ expectations of $49.40 million. Cass Information Systems had a net margin of 18.08% and a return on equity of 13.26%. On average, analysts predict that Cass Information Systems, Inc will post 3 earnings per share for the current year.

Cass Information Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, June 5th will be given 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 (DPR) is presently 48.67%.

About Cass Information Systems

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.