Towneley Capital Management Inc DE Acquires Shares of 14,944 Cass Information Systems, Inc. (NASDAQ:CASS)

Towneley Capital Management Inc DE bought a new position in shares of Cass Information Systems, Inc. (NASDAQ:CASS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,944 shares of the business services provider’s stock, valued at approximately $611,000. Cass Information Systems accounts for 0.1% of Towneley Capital Management Inc DE’s portfolio, making the stock its 29th largest holding. Towneley Capital Management Inc DE owned 0.11% of Cass Information Systems as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CASS. Copeland Capital Management LLC acquired a new stake in shares of Cass Information Systems during the third quarter worth $37,000. SG Americas Securities LLC acquired a new position in shares of Cass Information Systems during the 3rd quarter worth about $200,000. Creative Planning bought a new stake in shares of Cass Information Systems in the 3rd quarter valued at about $205,000. BNP Paribas Financial Markets raised its position in shares of Cass Information Systems by 27.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,387 shares of the business services provider’s stock valued at $265,000 after acquiring an additional 1,394 shares during the period. Finally, Quest Partners LLC grew its holdings in Cass Information Systems by 3,445.5% during the third quarter. Quest Partners LLC now owns 6,701 shares of the business services provider’s stock valued at $278,000 after purchasing an additional 6,512 shares during the period. Institutional investors own 59.08% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cass Information Systems Trading Up 0.7 %

NASDAQ:CASS opened at $43.34 on Tuesday. Cass Information Systems, Inc. has a 1 year low of $37.99 and a 1 year high of $50.25. The stock has a 50-day moving average price of $41.87 and a two-hundred day moving average price of $42.04. The stock has a market cap of $588.12 million, a price-to-earnings ratio of 31.41 and a beta of 0.72.

Cass Information Systems (NASDAQ:CASS) last issued its quarterly earnings data on Thursday, January 23rd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.10). Cass Information Systems had a net margin of 9.62% and a return on equity of 8.25%. Sell-side analysts forecast that Cass Information Systems, Inc. will post 2.62 earnings per share for the current year.

Cass Information Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be given a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.24 annualized dividend and a yield of 2.86%. Cass Information Systems’s dividend payout ratio is currently 89.86%.

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.