Renaissance Technologies LLC Makes New $251,000 Investment in Cass Information Systems, Inc. (NASDAQ:CASS)

Renaissance Technologies LLC acquired a new position in Cass Information Systems, Inc. (NASDAQ:CASS) during the second quarter, according to its most recent filing with the SEC. The firm acquired 6,260 shares of the business services provider’s stock, valued at approximately $251,000.

Several other hedge funds have also recently made changes to their positions in CASS. Los Angeles Capital Management LLC lifted its position in shares of Cass Information Systems by 57.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 55,835 shares of the business services provider’s stock worth $2,690,000 after purchasing an additional 20,416 shares during the period. Dumont & Blake Investment Advisors LLC bought a new stake in Cass Information Systems during the 1st quarter valued at approximately $207,000. Compass Ion Advisors LLC purchased a new position in shares of Cass Information Systems during the 1st quarter worth approximately $223,000. Allspring Global Investments Holdings LLC raised its position in shares of Cass Information Systems by 39.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 73,820 shares of the business services provider’s stock worth $3,556,000 after acquiring an additional 21,032 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Cass Information Systems by 3.9% in the 1st quarter. Commonwealth Equity Services LLC now owns 31,339 shares of the business services provider’s stock valued at $1,510,000 after purchasing an additional 1,166 shares during the period. 59.08% of the stock is owned by hedge funds and other institutional investors.

Cass Information Systems Stock Up 3.3 %

Shares of CASS opened at $41.92 on Friday. The stock has a market cap of $571.96 million, a P/E ratio of 19.14 and a beta of 0.70. The business’s 50 day moving average price is $41.24 and its 200-day moving average price is $42.48. Cass Information Systems, Inc. has a 52 week low of $36.22 and a 52 week high of $50.25.

Cass Information Systems (NASDAQ:CASS) last issued its quarterly earnings results on Thursday, July 18th. The business services provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.21). The company had revenue of $48.59 million for the quarter, compared to the consensus estimate of $50.00 million. Cass Information Systems had a net margin of 13.84% and a return on equity of 12.26%. On average, equities analysts anticipate that Cass Information Systems, Inc. will post 1.85 EPS for the current year.

Cass Information Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, September 3rd were paid a $0.30 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.20 annualized dividend and a dividend yield of 2.86%. Cass Information Systems’s dividend payout ratio is presently 54.79%.

Analyst Ratings Changes

Separately, Piper Sandler reaffirmed an “overweight” rating and issued a $44.00 price target (down from $47.00) on shares of Cass Information Systems in a research note on Monday, July 22nd.

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.