Cass Information Systems, Inc (NASDAQ:CASS) Shares Sold by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. trimmed its position in Cass Information Systems, Inc (NASDAQ:CASS) by 6.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,544 shares of the business services provider’s stock after selling 1,257 shares during the quarter. GHP Investment Advisors Inc. owned about 0.13% of Cass Information Systems worth $759,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CASS. Rhumbline Advisers boosted its holdings in Cass Information Systems by 1.1% in the 4th quarter. Rhumbline Advisers now owns 27,482 shares of the business services provider’s stock valued at $1,124,000 after purchasing an additional 303 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Cass Information Systems by 7.7% in the 4th quarter. Bank of New York Mellon Corp now owns 87,456 shares of the business services provider’s stock valued at $3,578,000 after purchasing an additional 6,236 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Cass Information Systems by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,325 shares of the business services provider’s stock valued at $4,268,000 after purchasing an additional 716 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Cass Information Systems in the 4th quarter valued at approximately $276,000. Finally, Commonwealth Equity Services LLC raised its stake in shares of Cass Information Systems by 7.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 34,339 shares of the business services provider’s stock valued at $1,405,000 after acquiring an additional 2,252 shares during the period. 59.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reduced their price target on shares of Cass Information Systems from $47.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd.

Cass Information Systems Stock Performance

Cass Information Systems stock opened at $42.47 on Thursday. The company’s 50 day simple moving average is $41.94 and its 200-day simple moving average is $42.09. The company has a market capitalization of $567.40 million, a price-to-earnings ratio of 27.94 and a beta of 0.44. Cass Information Systems, Inc has a 1 year low of $37.99 and a 1 year high of $47.14.

Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings results on Thursday, April 17th. The business services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The business had revenue of $46.41 million for the quarter, compared to the consensus estimate of $51.49 million. Cass Information Systems had a net margin of 10.71% and a return on equity of 8.84%. Equities analysts expect that Cass Information Systems, Inc will post 2.62 earnings per share for the current year.

Cass Information Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Tuesday, June 3rd. Cass Information Systems’s dividend payout ratio (DPR) is 81.58%.

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.