ValuEngine upgraded shares of Cass Information Systems (NASDAQ:CASS) from a hold rating to a buy rating in a report issued on Thursday.
Separately, BidaskClub upgraded Cass Information Systems from a buy rating to a strong-buy rating in a research report on Wednesday, June 20th.
Cass Information Systems traded up $0.18, reaching $71.00, during trading on Thursday, Marketbeat reports. 557 shares of the company’s stock were exchanged, compared to its average volume of 50,142. Cass Information Systems has a 1-year low of $54.37 and a 1-year high of $74.49. The firm has a market capitalization of $855.57 million, a PE ratio of 30.12 and a beta of 1.19.
Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings results on Thursday, April 26th. The business services provider reported $0.65 earnings per share (EPS) for the quarter. Cass Information Systems had a return on equity of 12.81% and a net margin of 19.28%. The company had revenue of $35.98 million during the quarter.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Tuesday, June 5th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Monday, June 4th. This is a positive change from Cass Information Systems’s previous quarterly dividend of $0.24.
In other Cass Information Systems news, insider Robert J. Mathias sold 1,192 shares of the business’s stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of $65.36, for a total transaction of $77,909.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.91% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Cass Information Systems in the fourth quarter valued at $109,000. Port Capital LLC acquired a new stake in shares of Cass Information Systems in the first quarter valued at $206,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Cass Information Systems in the first quarter valued at $206,000. Element Capital Management LLC acquired a new stake in shares of Cass Information Systems in the first quarter valued at $213,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Cass Information Systems in the fourth quarter valued at $250,000. Institutional investors and hedge funds own 50.59% of the company’s stock.
About Cass Information Systems
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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