KLP Kapitalforvaltning AS Purchases Shares of 2,780 Cass Information Systems, Inc. (NASDAQ:CASS)

KLP Kapitalforvaltning AS acquired a new position in shares of Cass Information Systems, Inc. (NASDAQ:CASS) in the 4th quarter, HoldingsChannel reports. The fund acquired 2,780 shares of the business services provider’s stock, valued at approximately $114,000.

Other hedge funds also recently modified their holdings of the company. Barclays PLC boosted its stake in Cass Information Systems by 364.9% during the third quarter. Barclays PLC now owns 21,938 shares of the business services provider’s stock worth $910,000 after acquiring an additional 17,219 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Cass Information Systems by 140.9% during the third quarter. JPMorgan Chase & Co. now owns 23,241 shares of the business services provider’s stock valued at $964,000 after acquiring an additional 13,593 shares during the last quarter. Geode Capital Management LLC boosted 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 worth $14,693,000 after buying an additional 13,607 shares during the last quarter. Towneley Capital Management Inc DE bought a new position in shares of Cass Information Systems during the 4th quarter valued at approximately $611,000. Finally, SG Americas Securities LLC increased its holdings in Cass Information Systems by 30.5% in the 4th quarter. SG Americas Securities LLC now owns 6,295 shares of the business services provider’s stock worth $258,000 after acquiring an additional 1,470 shares during the last quarter. Institutional investors own 59.08% of the company’s stock.

Cass Information Systems Stock Up 4.7 %

Shares of NASDAQ CASS opened at $41.03 on Thursday. The business has a 50-day simple moving average of $42.98 and a two-hundred day simple moving average of $42.52. Cass Information Systems, Inc. has a 52 week low of $37.99 and a 52 week high of $47.55. The company has a market cap of $552.47 million, a P/E ratio of 29.73 and a beta of 0.49.

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

Cass Information Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a $0.31 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.24 annualized dividend and a yield of 3.02%. Cass Information Systems’s payout ratio is currently 89.86%.

About Cass Information Systems

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.