Cass Information Systems (NASDAQ:CASS) Sets New 1-Year High – Time to Buy?

Cass Information Systems, Inc (NASDAQ:CASS) shares reached a new 52-week high on Wednesday . The stock traded as high as $57.65 and last traded at $57.3850, with a volume of 24849 shares traded. The stock had previously closed at $57.05.

Analysts Set New Price Targets

CASS has been the subject of a number of analyst reports. Weiss Ratings raised shares of Cass Information Systems from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, May 7th. Raymond James Financial raised their price objective on Cass Information Systems from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Piper Sandler set a $52.00 price objective on Cass Information Systems and gave the company a “neutral” rating in a research report on Friday, June 12th. Finally, Zacks Research upgraded shares of Cass Information Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $54.00.

Cass Information Systems Price Performance

The company has a market capitalization of $736.03 million, a price-to-earnings ratio of 20.57 and a beta of 0.41. The firm has a 50-day moving average price of $51.12 and a two-hundred day moving average price of $47.38.

Cass Information Systems (NASDAQ:CASS) last announced its earnings results on Thursday, July 23rd. The business services provider reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). Cass Information Systems had a net margin of 18.45% and a return on equity of 14.91%. The firm had revenue of $49.94 million during the quarter, compared to analyst estimates of $51.02 million. On average, equities analysts predict that Cass Information Systems, Inc will post 2.96 EPS for the current year.

Cass Information Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, September 4th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, September 4th. Cass Information Systems’s payout ratio is currently 46.04%.

Institutional Investors Weigh In On Cass Information Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas grew its holdings in shares of Cass Information Systems by 85.6% in the 4th quarter. Teacher Retirement System of Texas now owns 85,833 shares of the business services provider’s stock valued at $3,564,000 after acquiring an additional 39,582 shares in the last quarter. Punch & Associates Investment Management Inc. acquired a new stake in shares of Cass Information Systems in the 1st quarter valued at approximately $4,977,000. Speece Thorson Capital Group Inc. grew its stake in shares of Cass Information Systems by 3.9% in the fourth quarter. Speece Thorson Capital Group Inc. now owns 364,597 shares of the business services provider’s stock valued at $15,138,000 after buying an additional 13,524 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Cass Information Systems by 174.9% in the third quarter. JPMorgan Chase & Co. now owns 18,687 shares of the business services provider’s stock valued at $735,000 after buying an additional 11,890 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its holdings in Cass Information Systems by 214.9% during the first quarter. Y Intercept Hong Kong Ltd now owns 25,020 shares of the business services provider’s stock worth $1,101,000 after buying an additional 17,074 shares during the last quarter. 59.08% of the stock is currently owned by institutional investors and hedge funds.

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. 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. The company also processes and pays facility-related invoices, such as electricity, gas, waste, and telecommunications expenses; and provides telecom expense management solutions, as well as church management software solution and on-line platform to provide generosity services for faith-based and non-profit organizations.