Bessemer Group Inc. bought a new position in shares of Cass Information Systems (NASDAQ:CASS) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 12,600 shares of the business services provider’s stock, valued at approximately $867,000. Bessemer Group Inc. owned approximately 0.10% of Cass Information Systems as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Port Capital LLC bought a new stake in Cass Information Systems during the first quarter worth about $206,000. Oppenheimer Asset Management Inc. acquired a new position in Cass Information Systems during the first quarter worth approximately $206,000. Element Capital Management LLC acquired a new position in Cass Information Systems during the first quarter worth approximately $213,000. Jag Capital Management LLC acquired a new position in Cass Information Systems during the second quarter worth approximately $225,000. Finally, MetLife Investment Advisors LLC acquired a new position in Cass Information Systems during the fourth quarter worth approximately $285,000. Institutional investors and hedge funds own 50.60% of the company’s stock.
Get Cass Information Systems alerts:In other news, insider Robert J. Mathias sold 1,192 shares of the company’s stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $65.36, for a total value of $77,909.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 4.91% of the stock is owned by insiders.
Shares of NASDAQ CASS opened at $68.34 on Friday. The company has a market cap of $827.55 million, a price-to-earnings ratio of 28.24 and a beta of 1.03. Cass Information Systems has a twelve month low of $54.37 and a twelve month high of $74.49.
Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings results on Thursday, July 26th. The business services provider reported $0.60 earnings per share for the quarter. The firm had revenue of $36.36 million for the quarter. Cass Information Systems had a return on equity of 13.22% and a net margin of 19.62%.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Tuesday, September 4th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, August 31st.
A number of brokerages have weighed in on CASS. ValuEngine raised Cass Information Systems from a “hold” rating to a “buy” rating in a research report on Thursday, July 5th. BidaskClub raised Cass Information Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 20th.
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. It operates through two segments, Information Services and Banking Services. The company's services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information.
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