Allspring Global Investments Holdings LLC Grows Stock Holdings in Cass Information Systems, Inc. (NASDAQ:CASS)

Allspring Global Investments Holdings LLC lifted its position in shares of Cass Information Systems, Inc. (NASDAQ:CASS) by 39.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,820 shares of the business services provider’s stock after buying an additional 21,032 shares during the period. Allspring Global Investments Holdings LLC owned about 0.54% of Cass Information Systems worth $3,556,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Speece Thorson Capital Group Inc. bought a new position in shares of Cass Information Systems during the fourth quarter valued at about $2,432,000. GSA Capital Partners LLP bought a new stake in shares of Cass Information Systems in the 3rd quarter worth approximately $1,578,000. Commerce Bank boosted its holdings in Cass Information Systems by 60.5% in the fourth quarter. Commerce Bank now owns 77,634 shares of the business services provider’s stock valued at $3,497,000 after acquiring an additional 29,252 shares in the last quarter. Jag Capital Management LLC purchased a new stake in shares of Cass Information Systems in the 4th quarter worth about $1,149,000. Finally, Los Angeles Capital Management LLC boosted its stake in shares of Cass Information Systems by 57.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 55,835 shares of the business services provider’s stock valued at $2,690,000 after purchasing an additional 20,416 shares in the last quarter. Institutional investors own 59.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Cass Information Systems from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th.

Cass Information Systems Price Performance

CASS stock traded up $0.16 during trading on Tuesday, hitting $40.73. 886 shares of the stock traded hands, compared to its average volume of 40,774. Cass Information Systems, Inc. has a 1 year low of $35.50 and a 1 year high of $50.25. The firm’s 50 day moving average is $42.73 and its two-hundred day moving average is $44.48. The stock has a market cap of $555.56 million, a price-to-earnings ratio of 18.53 and a beta of 0.70.

Cass Information Systems (NASDAQ:CASS) last posted its earnings results on Thursday, April 18th. The business services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.07). Cass Information Systems had a net margin of 15.21% and a return on equity of 13.67%. The firm had revenue of $49.68 million during the quarter, compared to the consensus estimate of $50.68 million. As a group, analysts anticipate that Cass Information Systems, Inc. will post 2.21 EPS for the current fiscal year.

Cass Information Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, June 4th were paid a $0.30 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $1.20 annualized dividend and a yield of 2.95%. Cass Information Systems’s payout ratio is 54.79%.

About Cass Information Systems

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.