Citadel Advisors LLC boosted its holdings in Cass Information Systems (NASDAQ:CASS) by 89.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,991 shares of the business services provider’s stock after purchasing an additional 5,197 shares during the quarter. Citadel Advisors LLC owned approximately 0.09% of Cass Information Systems worth $757,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in CASS. Oppenheimer Asset Management Inc. acquired a new position in Cass Information Systems in the first quarter worth $206,000. Element Capital Management LLC acquired a new position in Cass Information Systems in the first quarter worth $213,000. Jag Capital Management LLC acquired a new position in Cass Information Systems in the second quarter worth $225,000. Blair William & Co. IL boosted its holdings in Cass Information Systems by 18.2% in the first quarter. Blair William & Co. IL now owns 5,809 shares of the business services provider’s stock worth $346,000 after purchasing an additional 895 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Cass Information Systems by 45.0% in the first quarter. Victory Capital Management Inc. now owns 6,202 shares of the business services provider’s stock worth $369,000 after purchasing an additional 1,925 shares during the period. 52.62% of the stock is owned by hedge funds and other institutional investors.
CASS stock opened at $67.23 on Monday. The firm has a market capitalization of $822.01 million, a price-to-earnings ratio of 28.04 and a beta of 1.03. Cass Information Systems has a 1 year low of $54.37 and a 1 year high of $74.49.
Cass Information Systems (NASDAQ:CASS) last posted its earnings results on Thursday, July 26th. The business services provider reported $0.60 earnings per share (EPS) for the quarter. The company had revenue of $36.36 million for the quarter. Cass Information Systems had a return on equity of 13.18% and a net margin of 19.62%.
The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Tuesday, September 4th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Friday, August 31st.
A number of equities research analysts have issued reports on the company. BidaskClub upgraded Cass Information Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 20th. ValuEngine upgraded Cass Information Systems from a “hold” rating to a “buy” rating in a research note on Thursday, July 5th.
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.
Read More: Compound Annual Growth Rate (CAGR)
Receive News & Ratings for Cass Information Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cass Information Systems and related companies with MarketBeat.com's FREE daily email newsletter.