Ieq Capital LLC Takes $570,000 Position in Cass Information Systems, Inc $CASS

Ieq Capital LLC acquired a new position in Cass Information Systems, Inc (NASDAQ:CASS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,112 shares of the business services provider’s stock, valued at approximately $570,000. Ieq Capital LLC owned 0.09% of Cass Information Systems as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kingdom Financial Group LLC. bought a new position in shares of Cass Information Systems in the 4th quarter valued at about $26,000. Triumph Capital Management acquired a new stake in shares of Cass Information Systems during the 3rd quarter worth approximately $25,000. New York State Teachers Retirement System bought a new stake in shares of Cass Information Systems during the fourth quarter worth approximately $46,000. BNP Paribas Financial Markets raised its stake in shares of Cass Information Systems by 50.7% during the second quarter. BNP Paribas Financial Markets now owns 1,227 shares of the business services provider’s stock worth $53,000 after buying an additional 413 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in 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 valued at $63,000 after buying an additional 1,472 shares during the period. 59.08% of the stock is owned by institutional investors.

Cass Information Systems Stock Performance

CASS opened at $56.65 on Friday. The firm’s fifty day moving average is $54.59 and its two-hundred day moving average is $49.00. The firm has a market cap of $725.69 million, a PE ratio of 20.38 and a beta of 0.41. Cass Information Systems, Inc has a twelve month low of $36.07 and a twelve month high of $59.63.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings results on Thursday, July 23rd. The business services provider reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.01). The firm had revenue of $27.04 million during the quarter, compared to analyst estimates of $51.02 million. Cass Information Systems had a net margin of 18.45% and a return on equity of 14.89%. Equities analysts forecast that Cass Information Systems, Inc will post 2.99 EPS for the current fiscal year.

Cass Information Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, September 4th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, September 4th. Cass Information Systems’s payout ratio is presently 46.04%.

Analyst Ratings Changes

CASS has been the topic of a number of recent research reports. Piper Sandler reaffirmed a “neutral” rating and issued a $61.00 price objective (up from $52.00) on shares of Cass Information Systems in a research note on Thursday, August 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cass Information Systems in a research report on Tuesday, August 4th. Raymond James Financial increased their price target on Cass Information Systems from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Finally, Zacks Research lowered Cass Information Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.50.

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.