Cass Information Systems (NASDAQ:CASS) Lowered to Hold at StockNews.com

StockNews.com lowered shares of Cass Information Systems (NASDAQ:CASS) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Several other research analysts have also recently issued reports on CASS. TheStreet cut 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 increased their price target for the stock from $45.00 to $51.00 in a research note on Monday, February 12th.

Cass Information Systems Stock Performance

NASDAQ:CASS opened at $43.62 on Friday. Cass Information Systems has a 1 year low of $35.05 and a 1 year high of $50.25. The stock has a market cap of $594.54 million, a price-to-earnings ratio of 19.92 and a beta of 0.73. The business has a fifty day moving average of $46.37 and a 200-day moving average of $43.55.

Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings results on Thursday, January 25th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.13. Cass Information Systems had a return on equity of 13.86% and a net margin of 15.21%. The company had revenue of $50.74 million during the quarter, compared to analysts’ expectations of $48.33 million. On average, equities research analysts predict that Cass Information Systems will post 2.35 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CASS. Speece Thorson Capital Group Inc. boosted its stake in Cass Information Systems by 194.2% during the first quarter. Speece Thorson Capital Group Inc. now owns 158,801 shares of the business services provider’s stock valued at $7,649,000 after buying an additional 104,817 shares in the last quarter. Ballast Asset Management LP bought a new position in Cass Information Systems during the third quarter valued at about $2,601,000. GSA Capital Partners LLP bought a new position in Cass Information Systems during the third quarter valued at about $1,578,000. Commerce Bank boosted its stake in Cass Information Systems by 60.5% during the fourth quarter. Commerce Bank now owns 77,634 shares of the business services provider’s stock valued at $3,497,000 after buying an additional 29,252 shares in the last quarter. Finally, Jag Capital Management LLC bought a new position in Cass Information Systems during the fourth quarter valued at about $1,149,000. 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.