ValuEngine upgraded shares of Cass Information Systems (NASDAQ:CASS) from a hold rating to a buy rating in a research report report published on Thursday.
Separately, BidaskClub upgraded Cass Information Systems from a buy rating to a strong-buy rating in a research note on Wednesday, June 20th.
Shares of CASS opened at $71.13 on Thursday. The stock has a market capitalization of $870.19 million, a PE ratio of 30.63 and a beta of 1.19. Cass Information Systems has a one year low of $54.37 and a one year high of $74.49.
Cass Information Systems (NASDAQ:CASS) last issued its earnings results on Thursday, April 26th. The business services provider reported $0.65 EPS for the quarter. The company had revenue of $35.98 million during the quarter. Cass Information Systems had a return on equity of 12.81% and a net margin of 19.28%.
The business also recently declared a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Tuesday, June 5th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, June 4th. This represents a $1.04 dividend on an annualized basis and a yield of 1.46%. This is an increase from Cass Information Systems’s previous quarterly dividend of $0.24.
In other Cass Information Systems news, insider Robert J. Mathias sold 1,354 shares of Cass Information Systems stock in a transaction dated Friday, June 8th. The stock was sold at an average price of $66.00, for a total transaction of $89,364.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.91% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Cass Information Systems during the 4th quarter valued at about $109,000. Port Capital LLC acquired a new position in Cass Information Systems during the 1st quarter valued at about $206,000. Oppenheimer Asset Management Inc. acquired a new position in Cass Information Systems during the 1st quarter valued at about $206,000. Element Capital Management LLC acquired a new position in Cass Information Systems during the 1st quarter valued at about $213,000. Finally, Teacher Retirement System of Texas acquired a new position in Cass Information Systems during the 4th quarter valued at about $250,000. Institutional investors and hedge funds own 50.59% of the company’s stock.
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. It operates through two segments, Information Services and Banking Services. The company's services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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