Royce & Associates LP Has $10.67 Million Stock Position in Cass Information Systems, Inc. (NASDAQ:CASS)

Royce & Associates LP trimmed its position in Cass Information Systems, Inc. (NASDAQ:CASS) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 257,339 shares of the business services provider’s stock after selling 13,897 shares during the quarter. Royce & Associates LP owned 1.89% of Cass Information Systems worth $10,674,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Speece Thorson Capital Group Inc. lifted its position in shares of Cass Information Systems by 37.6% during the 3rd quarter. Speece Thorson Capital Group Inc. now owns 305,495 shares of the business services provider’s stock worth $12,672,000 after buying an additional 83,414 shares during the last quarter. Tributary Capital Management LLC increased its stake in shares of Cass Information Systems by 5.3% in the third quarter. Tributary Capital Management LLC now owns 318,496 shares of the business services provider’s stock valued at $13,211,000 after buying an additional 15,919 shares during the period. Pinnacle Associates Ltd. raised its holdings in Cass Information Systems by 18.1% in the 3rd quarter. Pinnacle Associates Ltd. now owns 65,790 shares of the business services provider’s stock valued at $2,964,000 after buying an additional 10,077 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in Cass Information Systems by 81.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,903 shares of the business services provider’s stock worth $862,000 after buying an additional 8,050 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Cass Information Systems by 30.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,291 shares of the business services provider’s stock worth $1,412,000 after acquiring an additional 6,844 shares during the last quarter. Institutional investors and hedge funds own 59.08% of the company’s stock.

Cass Information Systems Trading Down 0.2 %

Shares of CASS stock opened at $44.50 on Friday. The stock has a 50-day moving average of $42.10 and a 200-day moving average of $42.04. The stock has a market cap of $603.87 million, a price-to-earnings ratio of 26.81 and a beta of 0.70. Cass Information Systems, Inc. has a 1-year low of $37.99 and a 1-year high of $50.25.

Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings results on Thursday, October 17th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.29). Cass Information Systems had a return on equity of 9.92% and a net margin of 11.52%. The firm had revenue of $50.55 million for the quarter, compared to the consensus estimate of $48.99 million. Sell-side analysts forecast that Cass Information Systems, Inc. will post 1.48 earnings per share for the current year.

Cass Information Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.31 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 2.79%. This is a boost from Cass Information Systems’s previous quarterly dividend of $0.30. Cass Information Systems’s dividend payout ratio is 72.29%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler raised their price target on shares of Cass Information Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, October 18th.

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.