D. E. Shaw & Co. Inc. purchased a new stake in Cass Information Systems (NASDAQ:CASS) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,094 shares of the business services provider’s stock, valued at approximately $270,000.
A number of other hedge funds have also recently made changes to their positions in CASS. Intercontinental Wealth Advisors LLC acquired a new stake in Cass Information Systems in the fourth quarter valued at $32,000. We Are One Seven LLC acquired a new stake in Cass Information Systems in the fourth quarter valued at $68,000. PNC Financial Services Group Inc. lifted its stake in Cass Information Systems by 19.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,149 shares of the business services provider’s stock valued at $114,000 after acquiring an additional 353 shares during the last quarter. QS Investors LLC lifted its stake in Cass Information Systems by 20.0% in the fourth quarter. QS Investors LLC now owns 2,280 shares of the business services provider’s stock valued at $121,000 after acquiring an additional 380 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in Cass Information Systems by 107.6% in the fourth quarter. Great West Life Assurance Co. Can now owns 2,392 shares of the business services provider’s stock valued at $122,000 after acquiring an additional 1,240 shares during the last quarter. Hedge funds and other institutional investors own 53.48% of the company’s stock.
Shares of CASS stock opened at $47.78 on Tuesday. The firm has a market capitalization of $696.82 million, a price-to-earnings ratio of 23.63 and a beta of 0.53. Cass Information Systems has a one year low of $44.99 and a one year high of $62.07.
Separately, BidaskClub upgraded shares of Cass Information Systems from a “strong sell” rating to a “sell” rating in a research note on Wednesday, March 27th.
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Cass Information Systems 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.
Further Reading: Ex-Dividend
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