Cass Information Systems (NASDAQ:CASS) Short Interest Update

Cass Information Systems (NASDAQ:CASS) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 341,700 shares, an increase of 19.9% from the December 15th total of 285,000 shares. Currently, 2.8% of the company’s shares are short sold. Based on an average daily volume of 47,600 shares, the short-interest ratio is presently 7.2 days.

Separately, BidaskClub lowered Cass Information Systems from a “hold” rating to a “sell” rating in a research note on Tuesday.

CASS stock opened at $56.55 on Tuesday. Cass Information Systems has a twelve month low of $44.35 and a twelve month high of $60.97. The business’s fifty day simple moving average is $57.24 and its two-hundred day simple moving average is $53.56. The firm has a market cap of $810.72 million, a price-to-earnings ratio of 26.63 and a beta of 0.59.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $0.56 earnings per share (EPS) for the quarter. Cass Information Systems had a return on equity of 13.07% and a net margin of 19.85%. The business had revenue of $40.54 million for the quarter.

Several institutional investors and hedge funds have recently bought and sold shares of CASS. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Cass Information Systems during the 3rd quarter worth $34,000. Larson Financial Group LLC bought a new position in shares of Cass Information Systems during the 3rd quarter worth $107,000. Royal Bank of Canada grew its position in shares of Cass Information Systems by 8.5% during the 2nd quarter. Royal Bank of Canada now owns 3,738 shares of the business services provider’s stock worth $181,000 after buying an additional 293 shares in the last quarter. Jag Capital Management LLC bought a new position in shares of Cass Information Systems during the 3rd quarter worth $217,000. Finally, Susquehanna International Group LLP bought a new position in shares of Cass Information Systems during the 2nd quarter worth $234,000. 55.29% of the stock is currently owned by institutional investors and hedge funds.

About Cass Information Systems

Cass Information Systems, Inc provides payment and information processing services to manufacturing, distribution, and retail enterprises in the United States. It operates through two segments, Information Services and Banking Services. The company's services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information.

Further Reading: Sell-Side Analysts

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