Tower Research Capital LLC TRC Trims Holdings in Cass Information Systems, Inc. (NASDAQ:CASS)

Tower Research Capital LLC TRC decreased its holdings in shares of Cass Information Systems, Inc. (NASDAQ:CASS) by 35.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 983 shares of the business services provider’s stock after selling 539 shares during the period. Tower Research Capital LLC TRC’s holdings in Cass Information Systems were worth $44,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CASS. Global Retirement Partners LLC bought a new stake in Cass Information Systems during the fourth quarter valued at $114,000. SG Americas Securities LLC bought a new stake in Cass Information Systems during the fourth quarter valued at $173,000. PNC Financial Services Group Inc. boosted its stake in Cass Information Systems by 7.9% during the third quarter. PNC Financial Services Group Inc. now owns 6,725 shares of the business services provider’s stock valued at $251,000 after buying an additional 490 shares during the period. Exchange Traded Concepts LLC bought a new stake in Cass Information Systems during the fourth quarter valued at $390,000. Finally, Trust Point Inc. bought a new stake in Cass Information Systems during the fourth quarter valued at $460,000. Institutional investors own 59.08% of the company’s stock.

Cass Information Systems Price Performance

NASDAQ CASS traded up $0.49 during trading on Thursday, hitting $43.98. 23,693 shares of the company’s stock traded hands, compared to its average volume of 42,100. The stock has a fifty day moving average of $46.15 and a two-hundred day moving average of $43.68. Cass Information Systems, Inc. has a 12-month low of $35.39 and a 12-month high of $50.25. The firm has a market cap of $599.45 million, a P/E ratio of 19.86 and a beta of 0.75.

Analyst Ratings Changes

CASS has been the subject of several research analyst reports. TheStreet lowered Cass Information Systems from a “b-” rating to a “c” rating in a research note on Thursday, January 25th. Piper Sandler raised Cass Information Systems from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $45.00 to $51.00 in a research note on Monday, February 12th. Finally, StockNews.com lowered Cass Information Systems from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th.

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.