Vanguard Group Inc. Trims Position in Cass Information Systems, Inc. (NASDAQ:CASS)

Vanguard Group Inc. cut its stake in Cass Information Systems, Inc. (NASDAQ:CASS - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 796,969 shares of the business services provider's stock after selling 22,830 shares during the quarter. Vanguard Group Inc. owned 5.87% of Cass Information Systems worth $32,604,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Rhumbline Advisers raised its position in Cass Information Systems by 1.1% in the 4th quarter. Rhumbline Advisers now owns 27,482 shares of the business services provider's stock valued at $1,124,000 after buying an additional 303 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cass Information Systems by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,325 shares of the business services provider's stock valued at $4,268,000 after purchasing an additional 716 shares during the last quarter. LPL Financial LLC lifted its position in shares of Cass Information Systems by 7.0% during the fourth quarter. LPL Financial LLC now owns 14,901 shares of the business services provider's stock valued at $610,000 after purchasing an additional 976 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Cass Information Systems by 27.9% during the third quarter. BNP Paribas Financial Markets now owns 6,387 shares of the business services provider's stock worth $265,000 after purchasing an additional 1,394 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in Cass Information Systems by 30.5% in the 4th quarter. SG Americas Securities LLC now owns 6,295 shares of the business services provider's stock worth $258,000 after purchasing an additional 1,470 shares in the last quarter. Institutional investors own 59.08% of the company's stock.

Cass Information Systems Stock Performance

Shares of Cass Information Systems stock traded down $0.20 during mid-day trading on Friday, hitting $39.48. 37,392 shares of the stock were exchanged, compared to its average volume of 41,905. Cass Information Systems, Inc. has a 12 month low of $37.99 and a 12 month high of $47.14. The company has a 50-day simple moving average of $42.51 and a 200 day simple moving average of $42.44. The company has a market capitalization of $531.60 million, a P/E ratio of 28.61 and a beta of 0.49.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The business services provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. The business had revenue of $46.41 million for the quarter, compared to analysts' expectations of $51.49 million. Cass Information Systems had a return on equity of 8.25% and a net margin of 9.62%. Analysts predict that Cass Information Systems, Inc. will post 2.62 EPS for the current year.

Cass Information Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Tuesday, March 4th. Cass Information Systems's payout ratio 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.