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

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 note issued on Wednesday.

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

Cass Information Systems Price Performance

Shares of CASS opened at $43.68 on Wednesday. Cass Information Systems has a 1-year low of $35.05 and a 1-year high of $50.25. The company has a 50-day moving average of $46.84 and a 200 day moving average of $43.26. The firm has a market capitalization of $595.36 million, a price-to-earnings ratio of 20.04 and a beta of 0.73.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings data 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 company had revenue of $50.74 million during the quarter, compared to analyst estimates of $48.33 million. On average, equities analysts anticipate that Cass Information Systems will post 2.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Moneta Group Investment Advisors LLC raised its stake in shares of Cass Information Systems by 108,000.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 45,277,674 shares of the business services provider’s stock worth $2,074,623,000 after acquiring an additional 45,235,789 shares in the last quarter. BlackRock Inc. raised its stake in shares of Cass Information Systems by 1.2% during the 1st quarter. BlackRock Inc. now owns 1,001,903 shares of the business services provider’s stock worth $36,979,000 after acquiring an additional 11,414 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Cass Information Systems by 12.7% during the 3rd quarter. Vanguard Group Inc. now owns 863,432 shares of the business services provider’s stock worth $29,952,000 after acquiring an additional 97,167 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Cass Information Systems by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 556,317 shares of the business services provider’s stock worth $24,094,000 after acquiring an additional 2,470 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Cass Information Systems by 0.6% during the 3rd quarter. State Street Corp now owns 403,642 shares of the business services provider’s stock worth $14,002,000 after acquiring an additional 2,304 shares in the last quarter. Hedge funds and other institutional investors own 59.08% 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.