International Assets Investment Management LLC Buys New Position in Cass Information Systems, Inc. (NASDAQ:CASS)

International Assets Investment Management LLC purchased a new position in Cass Information Systems, Inc. (NASDAQ:CASS) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 10,139 shares of the business services provider’s stock, valued at approximately $4,570,000. International Assets Investment Management LLC owned 0.07% of Cass Information Systems as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. GSA Capital Partners LLP acquired a new position in Cass Information Systems during the 3rd quarter valued at $1,578,000. Trust Point Inc. bought a new stake in shares of Cass Information Systems in the fourth quarter valued at about $460,000. PNC Financial Services Group Inc. grew its position in Cass Information Systems by 7.9% during the third quarter. PNC Financial Services Group Inc. now owns 6,725 shares of the business services provider’s stock worth $251,000 after buying an additional 490 shares in the last quarter. Keeley Teton Advisors LLC raised its holdings in Cass Information Systems by 18.7% in the 3rd quarter. Keeley Teton Advisors LLC now owns 95,770 shares of the business services provider’s stock valued at $3,567,000 after acquiring an additional 15,064 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Cass Information Systems by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 801,636 shares of the business services provider’s stock worth $29,861,000 after acquiring an additional 9,463 shares during the period. 59.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on CASS shares. StockNews.com lowered Cass Information Systems from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th. Piper Sandler raised shares of Cass Information Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $45.00 to $51.00 in a report on Monday, February 12th. Finally, TheStreet cut shares of Cass Information Systems from a “b-” rating to a “c” rating in a research note on Thursday, January 25th.

Cass Information Systems Price Performance

Shares of CASS stock opened at $44.59 on Thursday. The stock’s fifty day simple moving average is $45.85 and its 200 day simple moving average is $43.93. Cass Information Systems, Inc. has a one year low of $35.50 and a one year high of $50.25. The firm has a market cap of $608.39 million, a price-to-earnings ratio of 20.36 and a beta of 0.75.

Cass Information Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, June 4th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Tuesday, June 4th. Cass Information Systems’s payout ratio is 54.79%.

Cass Information Systems Profile

Cass Information Systems, Inc provides payment and information processing services to manufacturing, distribution, and retail enterprises in the United States. The company operates through two segments, Information Services and Banking Services. Its services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information.