Cass Information Systems, Inc (CASS) Shares Bought by WCM Investment Management CA

WCM Investment Management CA raised its stake in Cass Information Systems, Inc (NASDAQ:CASS) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,324 shares of the business services provider’s stock after buying an additional 1,775 shares during the period. WCM Investment Management CA owned about 0.77% of Cass Information Systems worth $5,476,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Legal & General Group Plc increased its holdings in shares of Cass Information Systems by 4.0% in the 2nd quarter. Legal & General Group Plc now owns 2,885 shares of the business services provider’s stock worth $189,000 after buying an additional 110 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Cass Information Systems by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,087 shares of the business services provider’s stock valued at $203,000 after purchasing an additional 464 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Cass Information Systems by 10.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 6,606 shares of the business services provider’s stock valued at $434,000 after purchasing an additional 648 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of Cass Information Systems by 6.8% during the 2nd quarter. Voya Investment Management LLC now owns 7,158 shares of the business services provider’s stock valued at $470,000 after purchasing an additional 458 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Cass Information Systems during the 3rd quarter valued at $487,000. 50.64% of the stock is currently owned by hedge funds and other institutional investors.

Separately, BidaskClub lowered shares of Cass Information Systems from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th.

Cass Information Systems, Inc (NASDAQ:CASS) traded up $0.47 during mid-day trading on Tuesday, hitting $63.23. 19,000 shares of the company traded hands, compared to its average volume of 27,448. Cass Information Systems, Inc has a 52 week low of $58.55 and a 52 week high of $74.83. The company has a market cap of $708.42, a price-to-earnings ratio of 27.05 and a beta of 1.18.

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

Cass Information Systems declared that its board has approved a stock buyback plan on Thursday, October 26th that allows the company to buyback 500,000 outstanding shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, December 5th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, December 4th. This represents a $0.96 annualized dividend and a dividend yield of 1.52%. This is a positive change from Cass Information Systems’s previous quarterly dividend of $0.21. Cass Information Systems’s dividend payout ratio (DPR) is currently 39.83%.

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About Cass Information Systems

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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