Cass Information Systems, Inc $CASS Stock Holdings Increased by Brown Advisory Inc.

Brown Advisory Inc. lifted its stake in Cass Information Systems, Inc (NASDAQ:CASS) by 5,552.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 539,932 shares of the business services provider’s stock after acquiring an additional 530,380 shares during the quarter. Brown Advisory Inc.’s holdings in Cass Information Systems were worth $22,418,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Triumph Capital Management purchased a new stake in shares of Cass Information Systems in the third quarter worth approximately $25,000. Kingdom Financial Group LLC. purchased a new stake in shares of Cass Information Systems in the fourth quarter worth approximately $26,000. New York State Teachers Retirement System purchased a new stake in shares of Cass Information Systems in the fourth quarter worth approximately $46,000. BNP Paribas Financial Markets lifted its position 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 worth $53,000 after purchasing an additional 413 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position 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 worth $63,000 after purchasing an additional 1,472 shares in the last quarter. 59.08% of the stock is owned by hedge funds and other institutional investors.

Cass Information Systems Stock Down 3.0%

NASDAQ:CASS opened at $47.98 on Tuesday. Cass Information Systems, Inc has a 12 month low of $36.07 and a 12 month high of $52.45. The firm has a market cap of $617.50 million, a price-to-earnings ratio of 18.24 and a beta of 0.43. The company’s 50 day moving average is $46.88 and its 200-day moving average is $44.80.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings data 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. Cass Information Systems had a net margin of 18.08% and a return on equity of 13.26%. The business had revenue of $27.95 million for the quarter, compared to the consensus estimate of $49.40 million. Research analysts predict that Cass Information Systems, Inc will post 3 EPS for the current fiscal year.

Cass Information Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, June 5th. This represents a $1.28 annualized dividend and a dividend yield of 2.7%. Cass Information Systems’s payout ratio is presently 48.67%.

Analyst Ratings Changes

A number of research firms have recently issued reports on CASS. Piper Sandler set a $52.00 price target on shares of Cass Information Systems and gave the stock a “neutral” rating in a research report on Friday. 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 investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

Cass Information Systems 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.