Cass Information Systems (NASDAQ:CASS) CEO Eric H. Brunngraber sold 3,268 shares of Cass Information Systems stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $62.51, for a total value of $204,282.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Cass Information Systems (NASDAQ:CASS) traded up $0.13 during mid-day trading on Friday, hitting $62.93. The stock had a trading volume of 39,600 shares, compared to its average volume of 27,908. Cass Information Systems has a 1 year low of $58.55 and a 1 year high of $74.83. The company has a market cap of $771.37, a price-to-earnings ratio of 29.78 and a beta of 1.21.

Cass Information Systems (NASDAQ:CASS) last issued its earnings results on Thursday, October 26th. The business services provider reported $0.61 EPS for the quarter. Cass Information Systems had a return on equity of 12.05% and a net margin of 19.71%. The business had revenue of $34.30 million during the quarter.

Cass Information Systems announced that its Board of Directors has approved a share repurchase plan on Thursday, October 26th that permits the company to repurchase 500,000 shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, December 5th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.53%. This is a positive change from Cass Information Systems’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, December 4th. Cass Information Systems’s payout ratio is presently 45.52%.

A number of institutional investors have recently modified their holdings of CASS. Legal & General Group Plc increased its position in Cass Information Systems by 4.0% in the 2nd quarter. Legal & General Group Plc now owns 2,885 shares of the business services provider’s stock valued at $189,000 after buying an additional 110 shares in the last quarter. Victory Capital Management Inc. increased its position in Cass Information Systems by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,087 shares of the business services provider’s stock valued at $203,000 after buying an additional 464 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Cass Information Systems in the 3rd quarter valued at about $360,000. Parametric Portfolio Associates LLC increased its position in Cass Information Systems by 10.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 6,606 shares of the business services provider’s stock valued at $434,000 after buying an additional 648 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in Cass Information Systems by 6.8% in the 2nd quarter. Voya Investment Management LLC now owns 7,158 shares of the business services provider’s stock valued at $470,000 after buying an additional 458 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Separately, BidaskClub raised Cass Information Systems from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 22nd.

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Cass Information Systems Company Profile

Cass Information Systems, Inc (Cass) is a provider of payment and information processing services to manufacturing, distribution and retail enterprises across the United States with operating locations in Missouri, Ohio, Massachusetts, South Carolina and Florida. The Company provides transportation invoice rating, payment processing, auditing, accounting and transportation information.

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