Salem Investment Counselors Inc. trimmed its position in Cass Information Systems, Inc. (NASDAQ:CASS – Free Report) by 23.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,975 shares of the business services provider’s stock after selling 600 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Cass Information Systems were worth $81,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Speece Thorson Capital Group Inc. increased its stake in Cass Information Systems by 37.6% during the third quarter. Speece Thorson Capital Group Inc. now owns 305,495 shares of the business services provider’s stock valued at $12,672,000 after purchasing an additional 83,414 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in Cass Information Systems during the third quarter worth about $3,029,000. Barclays PLC boosted its stake in Cass Information Systems by 364.9% during the 3rd quarter. Barclays PLC now owns 21,938 shares of the business services provider’s stock valued at $910,000 after purchasing an additional 17,219 shares during the period. Tributary Capital Management LLC boosted its stake in Cass Information Systems by 5.3% during the 3rd quarter. Tributary Capital Management LLC now owns 318,496 shares of the business services provider’s stock valued at $13,211,000 after purchasing an additional 15,919 shares during the period. Finally, Geode Capital Management LLC grew its position in Cass Information Systems by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 354,155 shares of the business services provider’s stock worth $14,693,000 after purchasing an additional 13,607 shares during the last quarter. 59.08% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, Piper Sandler raised their target price on Cass Information Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, October 18th.
Cass Information Systems Trading Up 1.4 %
Shares of NASDAQ:CASS opened at $39.46 on Wednesday. Cass Information Systems, Inc. has a twelve month low of $37.99 and a twelve month high of $50.25. The firm has a market cap of $535.43 million, a P/E ratio of 23.77 and a beta of 0.73. The company has a 50 day moving average of $43.13 and a 200-day moving average of $42.04.
Cass Information Systems (NASDAQ:CASS – Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). Cass Information Systems had a net margin of 11.52% and a return on equity of 9.92%. The firm had revenue of $50.55 million for the quarter, compared to the consensus estimate of $48.99 million. Equities research analysts forecast that Cass Information Systems, Inc. will post 1.48 EPS for the current year.
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.
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