Y Intercept Hong Kong Ltd Increases Stock Position in Cass Information Systems, Inc $CASS

Y Intercept Hong Kong Ltd raised its stake in Cass Information Systems, Inc (NASDAQ:CASS) by 214.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,020 shares of the business services provider’s stock after acquiring an additional 17,074 shares during the period. Y Intercept Hong Kong Ltd owned 0.19% of Cass Information Systems worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Kingdom Financial Group LLC. purchased a new stake in shares of Cass Information Systems in the 4th quarter valued at about $26,000. Triumph Capital Management purchased a new position in Cass Information Systems during the 3rd quarter worth approximately $25,000. New York State Teachers Retirement System acquired a new position in Cass Information Systems during the fourth quarter worth approximately $46,000. BNP Paribas Financial Markets increased its position in Cass Information Systems by 50.7% during the second quarter. BNP Paribas Financial Markets now owns 1,227 shares of the business services provider’s stock worth $53,000 after buying an additional 413 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in Cass Information Systems by 1,206.6% in the third quarter. Russell Investments Group Ltd. now owns 1,594 shares of the business services provider’s stock valued at $63,000 after buying an additional 1,472 shares during the last quarter. Hedge funds and other institutional investors own 59.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CASS. Piper Sandler set a $52.00 target price on shares of Cass Information Systems and gave the stock a “neutral” rating in a research report on Friday, June 12th. Weiss Ratings upgraded shares of Cass Information Systems from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, May 7th. Finally, Raymond James Financial increased their price target on shares of Cass Information Systems from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Cass Information Systems has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Cass Information Systems Stock Up 0.7%

CASS traded up $0.34 on Friday, hitting $52.05. 54,897 shares of the company traded hands, compared to its average volume of 89,367. Cass Information Systems, Inc has a 12-month low of $36.07 and a 12-month high of $53.19. The company has a 50 day moving average of $48.44 and a 200-day moving average of $45.83. The stock has a market capitalization of $669.94 million, a PE ratio of 19.79 and a beta of 0.42.

Cass Information Systems (NASDAQ:CASS) last announced its earnings results on Thursday, April 23rd. The business services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.03. Cass Information Systems had a return on equity of 13.26% and a net margin of 18.08%.The company had revenue of $27.95 million for the quarter, compared to the consensus estimate of $49.40 million. On average, research analysts anticipate that Cass Information Systems, Inc will post 3 EPS for the current year.

Cass Information Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, June 5th. Cass Information Systems’s dividend payout ratio (DPR) is 48.67%.

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. The company also processes and pays facility-related invoices, such as electricity, gas, waste, and telecommunications expenses; and provides telecom expense management solutions, as well as church management software solution and on-line platform to provide generosity services for faith-based and non-profit organizations.