Schwab Charles Investment Management Inc. grew its holdings in shares of Cass Information Systems, Inc (NASDAQ:CASS) by 22.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 52,631 shares of the business services provider’s stock after purchasing an additional 9,593 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.43% of Cass Information Systems worth $3,064,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can grew its position in shares of Cass Information Systems by 135.4% during the 4th quarter. Bank of Montreal Can now owns 3,733 shares of the business services provider’s stock valued at $217,000 after acquiring an additional 2,147 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Cass Information Systems in the 3rd quarter worth $360,000. Parametric Portfolio Associates LLC boosted its holdings in Cass Information Systems by 10.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 6,606 shares of the business services provider’s stock worth $434,000 after buying an additional 648 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in Cass Information Systems in the 3rd quarter worth $487,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Cass Information Systems by 0.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,561 shares of the business services provider’s stock worth $562,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 53.37% of the company’s stock.
CASS stock traded up $0.12 during mid-day trading on Thursday, hitting $58.52. The company had a trading volume of 21,992 shares, compared to its average volume of 27,824. The stock has a market cap of $728.85, a P/E ratio of 27.33 and a beta of 1.19. Cass Information Systems, Inc has a 12-month low of $54.37 and a 12-month high of $69.86.
Cass Information Systems (NASDAQ:CASS) last announced its earnings results on Thursday, February 1st. The business services provider reported $0.58 earnings per share (EPS) for the quarter. The firm had revenue of $35.05 million for the quarter. Cass Information Systems had a net margin of 18.49% and a return on equity of 12.14%.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Monday, March 5th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Friday, March 2nd.
In other news, Director Ralph W. Clermont acquired 1,000 shares of Cass Information Systems stock in a transaction that occurred on Tuesday, February 6th. The shares were bought at an average cost of $55.39 per share, with a total value of $55,390.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.91% of the company’s stock.
Separately, BidaskClub downgraded shares of Cass Information Systems from a “hold” rating to a “sell” rating in a report on Saturday, January 6th.
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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.
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