Piper Sandler Raises Cass Information Systems (NASDAQ:CASS) Price Target to $45.00

Cass Information Systems (NASDAQ:CASS) had its target price hoisted by Piper Sandler from $44.00 to $45.00 in a research report report published on Friday morning, MarketBeat reports. Piper Sandler currently has an overweight rating on the business services provider’s stock.

Cass Information Systems Stock Down 0.4 %

CASS stock opened at $40.12 on Friday. The business has a 50 day moving average of $41.52 and a 200 day moving average of $42.17. The firm has a market cap of $547.40 million, a PE ratio of 18.32 and a beta of 0.70. Cass Information Systems has a twelve month low of $36.22 and a twelve month high of $50.25.

Cass Information Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.09%. This is an increase from Cass Information Systems’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, December 3rd. Cass Information Systems’s dividend payout ratio is 56.62%.

Institutional Investors Weigh In On Cass Information Systems

Several institutional investors and hedge funds have recently made changes to their positions in CASS. Copeland Capital Management LLC bought a new stake in Cass Information Systems in the 3rd quarter worth about $37,000. SG Americas Securities LLC bought a new position in Cass Information Systems during the 3rd quarter valued at about $200,000. Creative Planning purchased a new stake in shares of Cass Information Systems during the 3rd quarter valued at about $205,000. Dumont & Blake Investment Advisors LLC bought a new stake in shares of Cass Information Systems in the first quarter worth approximately $207,000. Finally, Compass Ion Advisors LLC purchased a new position in shares of Cass Information Systems during the first quarter valued at approximately $223,000. Institutional investors own 59.08% of the company’s stock.

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.