Cass Information Systems (NASDAQ:CASS) Hits New 12-Month High – Still a Buy?

Shares of Cass Information Systems, Inc (NASDAQ:CASS) reached a new 52-week high on Monday . The stock traded as high as $53.00 and last traded at $51.1850, with a volume of 101 shares. The stock had previously closed at $51.57.

Wall Street Analyst Weigh In

CASS has been the topic of several recent research reports. Piper Sandler set a $52.00 price objective on shares of Cass Information Systems and gave the company a “neutral” rating in a report on Friday, June 12th. Weiss Ratings raised shares of Cass Information Systems from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

Cass Information Systems Stock Performance

The company’s 50-day moving average price is $47.59 and its two-hundred day moving average price is $45.26. The stock has a market cap of $662.91 million, a PE ratio of 19.46 and a beta of 0.43.

Cass Information Systems (NASDAQ:CASS) last issued its quarterly earnings results on Thursday, April 23rd. The business services provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.03. The firm had revenue of $27.95 million during the quarter, compared to analyst estimates of $49.40 million. Cass Information Systems had a return on equity of 13.26% and a net margin of 18.08%. Equities research analysts forecast that Cass Information Systems, Inc will post 2.98 earnings per share for the current fiscal year.

Cass Information Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.5%. Cass Information Systems’s dividend payout ratio is 48.67%.

Hedge Funds Weigh In On Cass Information Systems

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Brown Advisory Inc. grew its holdings in shares of Cass Information Systems by 5,552.6% in the fourth quarter. Brown Advisory Inc. now owns 539,932 shares of the business services provider’s stock worth $22,418,000 after purchasing an additional 530,380 shares during the last quarter. Punch & Associates Investment Management Inc. purchased a new stake in Cass Information Systems during the 1st quarter valued at $4,977,000. Acumen Wealth Advisors LLC purchased a new stake in Cass Information Systems during the 4th quarter valued at $4,660,000. Two Sigma Investments LP grew its holdings in Cass Information Systems by 1,190.2% in the 3rd quarter. Two Sigma Investments LP now owns 71,749 shares of the business services provider’s stock worth $2,822,000 after acquiring an additional 66,188 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Cass Information Systems by 85.6% in the fourth quarter. Teacher Retirement System of Texas now owns 85,833 shares of the business services provider’s stock valued at $3,564,000 after acquiring an additional 39,582 shares during the period. 59.08% of the stock is currently owned by institutional investors.

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.