Boston Partners Sells 2,868 Shares of Cass Information Systems, Inc. (NASDAQ:CASS)

Boston Partners lessened its position in shares of Cass Information Systems, Inc. (NASDAQ:CASS) by 4.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 63,323 shares of the business services provider’s stock after selling 2,868 shares during the period. Boston Partners owned approximately 0.46% of Cass Information Systems worth $3,050,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CASS. Speece Thorson Capital Group Inc. increased its holdings in Cass Information Systems by 194.2% during the 1st quarter. Speece Thorson Capital Group Inc. now owns 158,801 shares of the business services provider’s stock worth $7,649,000 after acquiring an additional 104,817 shares during the period. Commerce Bank increased its holdings in shares of Cass Information Systems by 60.5% in the 4th quarter. Commerce Bank now owns 77,634 shares of the business services provider’s stock worth $3,497,000 after buying an additional 29,252 shares during the last quarter. Jag Capital Management LLC bought a new position in shares of Cass Information Systems in the 4th quarter worth $1,149,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Cass Information Systems by 39.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 73,820 shares of the business services provider’s stock worth $3,556,000 after buying an additional 21,032 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Cass Information Systems by 57.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 55,835 shares of the business services provider’s stock worth $2,690,000 after buying an additional 20,416 shares during the last quarter. Institutional investors own 59.08% of the company’s stock.

Wall Street Analyst Weigh In

CASS has been the topic of a number of research analyst reports. StockNews.com lowered shares of Cass Information Systems from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. Piper Sandler reissued an “overweight” rating and issued a $44.00 price target (down previously from $47.00) on shares of Cass Information Systems in a report on Monday, July 22nd.

Cass Information Systems Stock Performance

Shares of CASS stock traded down $0.66 on Friday, hitting $40.81. 59,252 shares of the company’s stock traded hands, compared to its average volume of 56,991. Cass Information Systems, Inc. has a one year low of $35.50 and a one year high of $50.25. The company’s fifty day simple moving average is $41.38 and its 200 day simple moving average is $43.96. The stock has a market capitalization of $556.65 million, a price-to-earnings ratio of 18.63 and a beta of 0.70.

Cass Information Systems (NASDAQ:CASS) last released its earnings results on Thursday, July 18th. The business services provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.21). Cass Information Systems had a net margin of 13.84% and a return on equity of 12.37%. The business had revenue of $48.59 million for the quarter, compared to the consensus estimate of $50.00 million. As a group, sell-side analysts anticipate that Cass Information Systems, Inc. will post 1.86 earnings per share for the current fiscal year.

Cass Information Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Tuesday, September 3rd. Cass Information Systems’s dividend payout ratio is currently 54.79%.

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.