Cass Information Systems, Inc (NASDAQ:CASS) Stock Holdings Boosted by GAMMA Investing LLC

GAMMA Investing LLC raised its position in shares of Cass Information Systems, Inc (NASDAQ:CASS) by 4,823.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,456 shares of the business services provider’s stock after purchasing an additional 12,203 shares during the quarter. GAMMA Investing LLC’s holdings in Cass Information Systems were worth $539,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CASS. Huntington National Bank boosted its stake in shares of Cass Information Systems by 72.9% during the 4th quarter. Huntington National Bank now owns 690 shares of the business services provider’s stock worth $28,000 after acquiring an additional 291 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in shares of Cass Information Systems during the 4th quarter worth $44,000. KLP Kapitalforvaltning AS bought a new stake in shares of Cass Information Systems during the 4th quarter worth $114,000. Intech Investment Management LLC bought a new stake in shares of Cass Information Systems during the 4th quarter worth $207,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Cass Information Systems during the 4th quarter worth $276,000. 59.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Cass Information Systems Stock Up 0.8%

CASS opened at $41.68 on Thursday. The firm has a market cap of $556.84 million, a PE ratio of 27.42 and a beta of 0.44. The business has a fifty day simple moving average of $41.68 and a 200-day simple moving average of $42.17. Cass Information Systems, Inc has a fifty-two week low of $37.99 and a fifty-two week high of $47.14.

Cass Information Systems (NASDAQ:CASS) last issued its earnings results on Thursday, April 17th. The business services provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. The business had revenue of $46.41 million during the quarter, compared to analysts’ expectations of $51.49 million. Cass Information Systems had a return on equity of 8.84% and a net margin of 10.71%. On average, equities research analysts anticipate that Cass Information Systems, Inc will post 2.62 EPS for the current fiscal year.

Cass Information Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd were given a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $1.24 annualized dividend and a dividend yield of 2.98%. Cass Information Systems’s dividend payout ratio (DPR) is presently 81.58%.

Cass Information Systems 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.