Cass Information Systems (NASDAQ:CASS – Get Free Report) was upgraded by investment analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued on Monday, MarketBeat Ratings reports. The brokerage currently has a $51.00 price objective on the business services provider’s stock, up from their previous price objective of $45.00. Piper Sandler’s price target indicates a potential upside of 16.46% from the company’s current price.
Separately, TheStreet lowered shares of Cass Information Systems from a “b-” rating to a “c” rating in a research note on Thursday, January 25th.
Cass Information Systems Trading Up 1.6 %
Institutional Trading of Cass Information Systems
Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC bought a new position in Cass Information Systems during the first quarter worth about $42,000. Tower Research Capital LLC TRC lifted its position in shares of Cass Information Systems by 277.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 988 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 726 shares during the period. Citigroup Inc. lifted its stake in Cass Information Systems by 60.4% during the first quarter. Citigroup Inc. now owns 1,192 shares of the business services provider’s stock worth $52,000 after purchasing an additional 449 shares during the last quarter. Comerica Bank bought a new position in shares of Cass Information Systems in the third quarter worth about $71,000. Finally, Global Retirement Partners LLC bought a new position in Cass Information Systems in the 4th quarter valued at approximately $114,000. Institutional investors and hedge funds own 57.60% of the company’s stock.
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.
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