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

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

CASS has been the subject of a number of other reports. TheStreet downgraded Cass Information Systems from a “b-” rating to a “c” rating in a research report on Thursday, January 25th. Piper Sandler upgraded Cass Information Systems from a “neutral” rating to an “overweight” rating and upped their target price for the company from $45.00 to $51.00 in a research report on Monday, February 12th.

Cass Information Systems Price Performance

CASS opened at $43.62 on Friday. The business has a fifty day simple moving average of $46.37 and a 200 day simple moving average of $43.59. The company has a market capitalization of $594.63 million, a PE ratio of 19.92 and a beta of 0.73. Cass Information Systems has a 1 year low of $35.05 and a 1 year high of $50.25.

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, beating the consensus estimate of $0.48 by $0.13. The business had revenue of $50.74 million during the quarter, compared to the consensus estimate of $48.33 million. Cass Information Systems had a return on equity of 13.86% and a net margin of 15.21%. Equities analysts anticipate that Cass Information Systems will post 2.35 earnings per share for the current fiscal year.

Institutional Trading of Cass Information Systems

Institutional investors have recently modified their holdings of the stock. Speece Thorson Capital Group Inc. lifted its position in shares of Cass Information Systems by 194.2% during the 1st quarter. Speece Thorson Capital Group Inc. now owns 158,801 shares of the business services provider’s stock worth $7,649,000 after buying an additional 104,817 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Cass Information Systems by 39.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 73,820 shares of the business services provider’s stock worth $3,556,000 after buying an additional 21,032 shares during the last quarter. Compass Ion Advisors LLC bought a new stake in shares of Cass Information Systems during the 1st quarter worth $223,000. Dumont & Blake Investment Advisors LLC bought a new stake in shares of Cass Information Systems during the 1st quarter worth $207,000. Finally, Los Angeles Capital Management LLC lifted its position in shares of Cass Information Systems by 57.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 55,835 shares of the business services provider’s stock worth $2,690,000 after buying an additional 20,416 shares during the last quarter. 59.08% of the stock is currently owned by institutional investors.

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.