Cass Information Systems (CASS) Lowered to Hold at BidaskClub

BidaskClub lowered shares of Cass Information Systems (NASDAQ:CASS) from a buy rating to a hold rating in a report published on Wednesday.

Separately, ValuEngine upgraded Cass Information Systems from a hold rating to a buy rating in a research report on Thursday, July 5th.

NASDAQ CASS opened at $67.23 on Wednesday. The company has a market cap of $822.01 million, a P/E ratio of 28.04 and a beta of 1.03. Cass Information Systems has a one year low of $54.37 and a one year high of $74.49.

Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings results on Thursday, July 26th. The business services provider reported $0.60 EPS for the quarter. The business had revenue of $36.36 million for the quarter. Cass Information Systems had a return on equity of 13.18% and a net margin of 19.62%.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Tuesday, September 4th were given a $0.26 dividend. The ex-dividend date was Friday, August 31st. This represents a $1.04 dividend on an annualized basis and a yield of 1.55%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Cass Information Systems by 7.3% in the 2nd quarter. BlackRock Inc. now owns 771,994 shares of the business services provider’s stock valued at $53,128,000 after buying an additional 52,831 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Cass Information Systems by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 435,589 shares of the business services provider’s stock valued at $29,977,000 after buying an additional 15,545 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Cass Information Systems by 4.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 165,212 shares of the business services provider’s stock valued at $11,370,000 after buying an additional 6,625 shares during the last quarter. Renaissance Technologies LLC boosted its position in Cass Information Systems by 14.0% in the 2nd quarter. Renaissance Technologies LLC now owns 83,157 shares of the business services provider’s stock valued at $5,723,000 after buying an additional 10,200 shares during the last quarter. Finally, Crawford Investment Counsel Inc. boosted its position in Cass Information Systems by 4.1% in the 1st quarter. Crawford Investment Counsel Inc. now owns 71,882 shares of the business services provider’s stock valued at $4,278,000 after buying an additional 2,850 shares during the last quarter. Hedge funds and other institutional investors own 52.62% of the company’s stock.

About Cass Information Systems

Cass Information Systems, Inc provides payment and information processing services to manufacturing, distribution, and retail enterprises in the United States. It operates through two segments, Information Services and Banking Services. The company's services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information.

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