JPMorgan Chase & Co. Has $682,000 Position in Cass Information Systems (CASS)

JPMorgan Chase & Co. increased its stake in shares of Cass Information Systems (NASDAQ:CASS) by 6,787.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,606 shares of the business services provider’s stock after purchasing an additional 10,452 shares during the period. JPMorgan Chase & Co. owned approximately 0.09% of Cass Information Systems worth $682,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in CASS. Legal & General Group Plc grew its stake in shares of Cass Information Systems by 4.0% during the second quarter. Legal & General Group Plc now owns 2,885 shares of the business services provider’s stock worth $189,000 after purchasing an additional 110 shares during the period. Victory Capital Management Inc. grew its stake in shares of Cass Information Systems by 17.7% during the second quarter. Victory Capital Management Inc. now owns 3,087 shares of the business services provider’s stock worth $203,000 after purchasing an additional 464 shares during the period. Kennedy Capital Management Inc. grew its stake in shares of Cass Information Systems by 71.0% during the second quarter. Kennedy Capital Management Inc. now owns 65,224 shares of the business services provider’s stock worth $4,281,000 after purchasing an additional 27,083 shares during the period. Teachers Advisors LLC grew its stake in shares of Cass Information Systems by 6.4% during the second quarter. Teachers Advisors LLC now owns 19,644 shares of the business services provider’s stock worth $1,289,000 after purchasing an additional 1,190 shares during the period. Finally, Nationwide Fund Advisors grew its stake in shares of Cass Information Systems by 25.0% during the second quarter. Nationwide Fund Advisors now owns 16,875 shares of the business services provider’s stock worth $1,108,000 after purchasing an additional 3,372 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Cass Information Systems (CASS) opened at $58.67 on Monday. The firm has a market capitalization of $720.64, a PE ratio of 27.82 and a beta of 1.21. Cass Information Systems has a twelve month low of $56.72 and a twelve month high of $69.86.

Cass Information Systems (NASDAQ:CASS) last posted its earnings results on Thursday, October 26th. The business services provider reported $0.61 earnings per share for the quarter. The firm had revenue of $34.30 million for the quarter. Cass Information Systems had a return on equity of 12.05% and a net margin of 19.71%.

Cass Information Systems declared that its board has authorized a stock buyback program on Thursday, October 26th that allows the company to buyback 500,000 outstanding shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Separately, BidaskClub lowered Cass Information Systems from a “hold” rating to a “sell” rating in a report on Saturday, January 6th.

In other Cass Information Systems news, CEO Eric H. Brunngraber sold 3,268 shares of Cass Information Systems stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $62.51, for a total transaction of $204,282.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 5.01% of the company’s stock.

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Cass Information Systems Profile

Cass Information Systems, Inc (Cass) is a provider of payment and information processing services to manufacturing, distribution and retail enterprises across the United States with operating locations in Missouri, Ohio, Massachusetts, South Carolina and Florida. The Company provides transportation invoice rating, payment processing, auditing, accounting and transportation information.

Institutional Ownership by Quarter for Cass Information Systems (NASDAQ:CASS)

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