Cass Information Systems (NASDAQ:CASS) Trading 5.2% Higher – Time to Buy?

Cass Information Systems, Inc. (NASDAQ:CASS) shot up 5.2% on Thursday . The stock traded as high as $44.21 and last traded at $44.21. 2,481 shares were traded during mid-day trading, a decline of 94% from the average session volume of 41,148 shares. The stock had previously closed at $42.02.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler boosted their price objective on Cass Information Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, October 18th.

Cass Information Systems Price Performance

The stock’s 50-day moving average price is $43.56 and its 200 day moving average price is $42.05. The firm has a market capitalization of $572.75 million, a PE ratio of 25.43 and a beta of 0.72.

Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings data on Thursday, October 17th. The business services provider reported $0.21 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 analysts’ expectations of $48.99 million. Equities research analysts forecast that Cass Information Systems, Inc. will post 1.48 earnings per share for the current fiscal year.

Cass Information Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Tuesday, December 3rd were paid a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This is a positive change from Cass Information Systems’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 2.94%. Cass Information Systems’s dividend payout ratio is 74.70%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Speece Thorson Capital Group Inc. boosted its stake in shares of Cass Information Systems by 37.6% during the third quarter. Speece Thorson Capital Group Inc. now owns 305,495 shares of the business services provider’s stock valued at $12,672,000 after purchasing an additional 83,414 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in Cass Information Systems during the third quarter worth $3,029,000. Barclays PLC boosted its position in Cass Information Systems by 364.9% during the 3rd quarter. Barclays PLC now owns 21,938 shares of the business services provider’s stock valued at $910,000 after acquiring an additional 17,219 shares in the last quarter. Tributary Capital Management LLC increased its holdings in shares of Cass Information Systems by 5.3% in the 3rd quarter. Tributary Capital Management LLC now owns 318,496 shares of the business services provider’s stock valued at $13,211,000 after acquiring an additional 15,919 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Cass Information Systems by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 354,155 shares of the business services provider’s stock valued at $14,693,000 after acquiring an additional 13,607 shares during the period. Hedge funds and other institutional investors own 59.08% of the company’s stock.

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.