Cass Information Systems (NASDAQ:CASS) Downgraded by StockNews.com to Hold

Cass Information Systems (NASDAQ:CASS) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

A number of other equities research analysts have also recently weighed in on CASS. TheStreet cut shares of Cass Information Systems from a “b-” rating to a “c” rating in a research report on Thursday, January 25th. Piper Sandler upgraded shares of Cass Information Systems from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $45.00 to $51.00 in a research report on Monday, February 12th.

Cass Information Systems Trading Down 2.3 %

Cass Information Systems stock opened at $43.68 on Wednesday. Cass Information Systems has a 12-month low of $35.05 and a 12-month high of $50.25. The stock has a market cap of $595.36 million, a P/E ratio of 20.04 and a beta of 0.73. The company has a 50-day moving average price of $46.84 and a 200 day moving average price of $43.26.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings results on Thursday, January 25th. The business services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.13. Cass Information Systems had a net margin of 15.22% and a return on equity of 13.84%. The business had revenue of $50.74 million during the quarter, compared to analysts’ expectations of $48.33 million. As a group, analysts forecast that Cass Information Systems will post 2.74 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its stake in shares of Cass Information Systems by 39.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 73,820 shares of the business services provider’s stock valued at $3,556,000 after purchasing an additional 21,032 shares during the period. Compass Ion Advisors LLC purchased a new position in shares of Cass Information Systems in the first quarter valued at approximately $223,000. Dumont & Blake Investment Advisors LLC purchased a new position in shares of Cass Information Systems in the first quarter valued at approximately $207,000. Los Angeles Capital Management LLC lifted its stake in Cass Information Systems by 57.6% in the first quarter. Los Angeles Capital Management LLC now owns 55,835 shares of the business services provider’s stock worth $2,690,000 after acquiring an additional 20,416 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Cass Information Systems by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 815,588 shares of the business services provider’s stock worth $36,742,000 after acquiring an additional 13,952 shares during the last quarter. Hedge funds and other 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.