UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stock Holdings in Cass Information Systems, Inc. (NASDAQ:CASS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of Cass Information Systems, Inc. (NASDAQ:CASS) by 7.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,251 shares of the business services provider’s stock after selling 2,545 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.22% of Cass Information Systems worth $1,255,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CASS. Copeland Capital Management LLC purchased a new stake in Cass Information Systems in the third quarter worth approximately $37,000. SG Americas Securities LLC purchased a new stake in shares of Cass Information Systems in the 3rd quarter valued at $200,000. Creative Planning bought a new position in shares of Cass Information Systems during the 3rd quarter valued at $205,000. Renaissance Technologies LLC purchased a new position in Cass Information Systems in the 2nd quarter worth $251,000. Finally, BNP Paribas Financial Markets lifted its stake in Cass Information Systems by 27.9% in the third quarter. BNP Paribas Financial Markets now owns 6,387 shares of the business services provider’s stock worth $265,000 after purchasing an additional 1,394 shares during the last quarter. 59.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler raised their price objective on Cass Information Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, October 18th.

Cass Information Systems Stock Up 0.3 %

Shares of CASS opened at $43.89 on Wednesday. The stock has a market capitalization of $595.54 million, a P/E ratio of 26.44 and a beta of 0.72. Cass Information Systems, Inc. has a twelve month low of $37.99 and a twelve month high of $50.25. The firm has a fifty day simple moving average of $43.53 and a two-hundred day simple moving average of $42.05.

Cass Information Systems (NASDAQ:CASS) last issued its quarterly earnings data on Thursday, October 17th. The business services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.29). Cass Information Systems had a net margin of 11.52% and a return on equity of 9.92%. The firm had revenue of $50.55 million for the quarter, compared to the consensus estimate of $48.99 million. Sell-side analysts expect that Cass Information Systems, Inc. will post 1.48 EPS for the current fiscal year.

Cass Information Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were given a $0.31 dividend. This is a positive change from Cass Information Systems’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Tuesday, December 3rd. Cass Information Systems’s dividend payout ratio (DPR) is currently 74.70%.

Cass Information Systems Company 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.