Intech Investment Management LLC Takes $207,000 Position in Cass Information Systems, Inc. (NASDAQ:CASS)

Intech Investment Management LLC purchased a new position in Cass Information Systems, Inc. (NASDAQ:CASS) during the fourth quarter, HoldingsChannel reports. The fund purchased 5,048 shares of the business services provider’s stock, valued at approximately $207,000.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in Cass Information Systems by 4.0% in the third quarter. Geode Capital Management LLC now owns 354,155 shares of the business services provider’s stock valued at $14,693,000 after purchasing an additional 13,607 shares during the last quarter. State Street Corp grew its stake in Cass Information Systems by 0.8% in the 3rd quarter. State Street Corp now owns 319,177 shares of the business services provider’s stock valued at $13,239,000 after acquiring an additional 2,466 shares during the last quarter. Royce & Associates LP increased its holdings in Cass Information Systems by 3.3% during the 4th quarter. Royce & Associates LP now owns 265,907 shares of the business services provider’s stock valued at $10,878,000 after acquiring an additional 8,568 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Cass Information Systems by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,325 shares of the business services provider’s stock worth $4,268,000 after acquiring an additional 716 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Cass Information Systems by 7.7% in the fourth quarter. Bank of New York Mellon Corp now owns 87,456 shares of the business services provider’s stock valued at $3,578,000 after purchasing an additional 6,236 shares in the last quarter. 59.08% of the stock is owned by hedge funds and other institutional investors.

Cass Information Systems Price Performance

Shares of CASS opened at $43.13 on Thursday. Cass Information Systems, Inc. has a 1-year low of $37.99 and a 1-year high of $49.16. The stock has a market cap of $580.75 million, a price-to-earnings ratio of 31.25 and a beta of 0.67. The firm has a 50 day simple moving average of $42.85 and a 200-day simple moving average of $42.53.

Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings results on Thursday, January 23rd. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). Cass Information Systems had a return on equity of 8.25% and a net margin of 9.62%. On average, equities analysts expect that Cass Information Systems, Inc. will post 2.62 earnings per share for the current fiscal year.

Cass Information Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were issued a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.24 dividend on an annualized basis and a yield of 2.88%. Cass Information Systems’s dividend payout ratio (DPR) is 89.86%.

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.