Barclays PLC Purchases 17,219 Shares of Cass Information Systems, Inc. (NASDAQ:CASS)

Barclays PLC raised its stake in Cass Information Systems, Inc. (NASDAQ:CASS) by 364.9% in the third quarter, Holdings Channel reports. The fund owned 21,938 shares of the business services provider’s stock after purchasing an additional 17,219 shares during the quarter. Barclays PLC’s holdings in Cass Information Systems were worth $910,000 at the end of the most recent reporting period.

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

Cass Information Systems Trading Up 1.4 %

Shares of Cass Information Systems stock opened at $39.46 on Wednesday. Cass Information Systems, Inc. has a 12-month low of $37.99 and a 12-month high of $50.25. The company has a market cap of $535.43 million, a price-to-earnings ratio of 23.77 and a beta of 0.73. The company’s 50-day moving average price is $43.13 and its 200-day moving average price is $42.04.

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

Wall Street Analyst Weigh In

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

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.