Allspring Global Investments Holdings LLC Has $3.56 Million Position in Cass Information Systems, Inc. (NASDAQ:CASS)

Allspring Global Investments Holdings LLC raised its holdings in Cass Information Systems, Inc. (NASDAQ:CASS) by 39.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,820 shares of the business services provider’s stock after buying an additional 21,032 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Cass Information Systems were worth $3,556,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Global Retirement Partners LLC bought a new position in shares of Cass Information Systems in the fourth quarter valued at approximately $114,000. SG Americas Securities LLC bought a new position in Cass Information Systems in the 4th quarter valued at $173,000. Dumont & Blake Investment Advisors LLC bought a new position in Cass Information Systems in the 1st quarter valued at $207,000. Compass Ion Advisors LLC acquired a new position in Cass Information Systems in the first quarter worth $223,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Cass Information Systems by 7.9% during the third quarter. PNC Financial Services Group Inc. now owns 6,725 shares of the business services provider’s stock worth $251,000 after purchasing an additional 490 shares during the last quarter. 59.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Cass Information Systems from a “buy” rating to a “hold” rating in a report on Saturday, April 27th.

Cass Information Systems Trading Up 0.4 %

Shares of NASDAQ:CASS traded up $0.16 during trading on Tuesday, hitting $40.73. 886 shares of the company’s stock were exchanged, compared to its average volume of 40,774. The firm has a 50-day moving average price of $42.73 and a two-hundred day moving average price of $44.48. Cass Information Systems, Inc. has a 1-year low of $35.50 and a 1-year high of $50.25. The firm has a market cap of $555.56 million, a P/E ratio of 18.53 and a beta of 0.70.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings results on Thursday, April 18th. The business services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.07). The company had revenue of $49.68 million during the quarter, compared to the consensus estimate of $50.68 million. Cass Information Systems had a net margin of 15.21% and a return on equity of 13.67%. As a group, research analysts predict that Cass Information Systems, Inc. will post 2.21 EPS for the current year.

Cass Information Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, June 4th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.20 annualized dividend and a dividend yield of 2.95%. Cass Information Systems’s dividend payout ratio (DPR) is currently 54.79%.

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.