Atlanta Capital Management Co. L L C Lowers Stake in Cass Information Systems (CASS)

Atlanta Capital Management Co. L L C reduced its position in shares of Cass Information Systems (NASDAQ:CASS) by 0.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 310,948 shares of the business services provider’s stock after selling 2,559 shares during the quarter. Atlanta Capital Management Co. L L C owned about 2.78% of Cass Information Systems worth $19,727,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of Cass Information Systems by 5.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 349,908 shares of the business services provider’s stock valued at $22,198,000 after acquiring an additional 19,309 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Cass Information Systems by 5.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 43,038 shares of the business services provider’s stock valued at $2,731,000 after acquiring an additional 2,229 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Cass Information Systems by 42.8% during the 3rd quarter. Wells Fargo & Company MN now owns 12,555 shares of the business services provider’s stock valued at $797,000 after acquiring an additional 3,760 shares during the last quarter. Citadel Advisors LLC boosted its position in shares of Cass Information Systems by 141.1% during the 3rd quarter. Citadel Advisors LLC now owns 14,958 shares of the business services provider’s stock valued at $949,000 after acquiring an additional 8,754 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Cass Information Systems by 6,787.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,606 shares of the business services provider’s stock valued at $682,000 after acquiring an additional 10,452 shares during the last quarter. Hedge funds and other institutional investors own 50.23% of the company’s stock.

Separately, BidaskClub upgraded Cass Information Systems from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 22nd.

Shares of Cass Information Systems (NASDAQ CASS) opened at $62.15 on Friday. The stock has a market capitalization of $762.41, a price-to-earnings ratio of 29.43 and a beta of 1.21. Cass Information Systems has a 52-week low of $58.55 and a 52-week high of $74.83.

Cass Information Systems (NASDAQ:CASS) last issued its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.61 earnings per share (EPS) for the quarter. The company had revenue of $34.30 million during the quarter. Cass Information Systems had a return on equity of 12.05% and a net margin of 19.71%.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, December 5th will be given a $0.24 dividend. The ex-dividend date is Monday, December 4th. This is an increase from Cass Information Systems’s previous quarterly dividend of $0.21. This represents a $0.96 dividend on an annualized basis and a yield of 1.54%. Cass Information Systems’s dividend payout ratio (DPR) is currently 45.52%.

Cass Information Systems announced that its Board of Directors has initiated a share repurchase program on Thursday, October 26th that authorizes the company to repurchase 500,000 shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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Cass Information Systems Company Profile

Cass Information Systems, Inc (Cass) is a provider of payment and information processing services to manufacturing, distribution and retail enterprises across the United States with operating locations in Missouri, Ohio, Massachusetts, South Carolina and Florida. The Company provides transportation invoice rating, payment processing, auditing, accounting and transportation information.

Institutional Ownership by Quarter for Cass Information Systems (NASDAQ:CASS)

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