Mackay Shields LLC Makes New Investment in Cass Information Systems (NASDAQ:CASS)

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Mackay Shields LLC acquired a new position in Cass Information Systems (NASDAQ:CASS) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,800 shares of the business services provider’s stock, valued at approximately $314,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in Cass Information Systems by 8.5% in the second quarter. Royal Bank of Canada now owns 3,738 shares of the business services provider’s stock worth $181,000 after buying an additional 293 shares during the period. US Bancorp DE lifted its holdings in Cass Information Systems by 5.4% in the second quarter. US Bancorp DE now owns 5,892 shares of the business services provider’s stock worth $285,000 after buying an additional 300 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Cass Information Systems by 0.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 73,489 shares of the business services provider’s stock worth $3,563,000 after buying an additional 479 shares during the period. AQR Capital Management LLC lifted its holdings in Cass Information Systems by 12.1% in the second quarter. AQR Capital Management LLC now owns 5,480 shares of the business services provider’s stock worth $266,000 after buying an additional 591 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Cass Information Systems in the third quarter worth about $34,000. Institutional investors and hedge funds own 54.46% of the company’s stock.

Separately, BidaskClub lowered shares of Cass Information Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday.

Shares of CASS opened at $56.70 on Tuesday. Cass Information Systems has a one year low of $44.35 and a one year high of $60.97. The company has a 50-day simple moving average of $55.04 and a two-hundred day simple moving average of $50.54. The firm has a market capitalization of $843.04 million, a PE ratio of 27.69 and a beta of 0.56.

Cass Information Systems (NASDAQ:CASS) last issued its quarterly earnings data on Thursday, October 24th. The business services provider reported $0.56 EPS for the quarter. Cass Information Systems had a net margin of 19.85% and a return on equity of 13.07%. The business had revenue of $40.54 million during the quarter.

Cass Information Systems Profile

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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Institutional Ownership by Quarter for Cass Information Systems (NASDAQ:CASS)

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