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ST. LOUIS—Martin H. Resch, President and CEO of Cass Information Systems Inc. (NASDAQ:CASS), a $547 million market cap company with a strong dividend track record, purchased 200 shares of the company’s common stock on April 21, according to a recent SEC filing. The shares were acquired at a price of $39 each, totaling $7,800. The stock currently trades at $40.77, up from the CEO’s purchase price. Following this transaction, Resch now directly owns 40,420 shares, which includes restricted stock bonus shares subject to vesting and forfeiture. InvestingPro analysis indicates the stock is currently undervalued, with additional metrics showing the company has raised its dividend for 23 consecutive years. Get access to more valuable insights and 12+ additional ProTips with an InvestingPro subscription.
In other recent news, Cass Information Systems, Inc. has entered into an agreement to sell its Telecom (BCBA:TECO2m) Expense Management & Managed Mobility Services business to Asignet USA Inc. This divestiture is in line with Cass’s strategic focus on financial exchange and information processing. The transaction, which is expected to close in the second quarter of 2025, is still subject to standard closing conditions. Martin Resch, CEO of Cass, noted that the move is anticipated to benefit customers due to Asignet’s investment in the sector. Claudio Lopez Silva, CEO of Asignet, expressed excitement about the acquisition, emphasizing the enhanced services that Cass TEM clients can expect. Financial details of the agreement have not been disclosed. Asignet, known for its IT Expense Management platform, will integrate Cass’s industry knowledge to improve efficiency and intelligence for its client base. Cass Information Systems manages over $90 billion in annual client disbursements and has total assets of $2.4 billion.
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