Cass Information Systems (NASDAQ:CASS) Cut to "Sell" at Wall Street Zen

Cass Information Systems (NASDAQ:CASS - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Monday.

CASS has been the topic of several other reports. Piper Sandler cut their target price on shares of Cass Information Systems from $47.00 to $46.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Raymond James Financial started coverage on shares of Cass Information Systems in a research note on Tuesday, July 15th. They set an "outperform" rating and a $50.00 price target on the stock.

Cass Information Systems Price Performance

CASS traded down $1.65 on Monday, reaching $41.95. 140,440 shares of the company's stock were exchanged, compared to its average volume of 68,949. The stock has a market cap of $560.45 million, a PE ratio of 22.55 and a beta of 0.45. Cass Information Systems has a twelve month low of $37.99 and a twelve month high of $47.14. The stock's fifty day moving average price is $43.19 and its 200-day moving average price is $42.41.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last issued its earnings results on Thursday, July 17th. The business services provider reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.72 by ($0.34). Cass Information Systems had a return on equity of 9.09% and a net margin of 13.22%. The firm had revenue of $44.40 million for the quarter, compared to analysts' expectations of $48.12 million. As a group, research analysts predict that Cass Information Systems will post 2.62 earnings per share for the current fiscal year.

Institutional Trading of Cass Information Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Cass Information Systems by 3.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,710 shares of the business services provider's stock valued at $315,000 after purchasing an additional 227 shares during the period. Copeland Capital Management LLC lifted its holdings in shares of Cass Information Systems by 16.4% in the second quarter. Copeland Capital Management LLC now owns 1,667 shares of the business services provider's stock valued at $72,000 after purchasing an additional 235 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Cass Information Systems by 72.9% in the fourth quarter. Huntington National Bank now owns 690 shares of the business services provider's stock valued at $28,000 after purchasing an additional 291 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Cass Information Systems by 4.8% in the fourth quarter. First Trust Advisors LP now owns 8,637 shares of the business services provider's stock valued at $353,000 after purchasing an additional 393 shares in the last quarter. Finally, AlphaQuest LLC lifted its holdings in shares of Cass Information Systems by 23.9% in the first quarter. AlphaQuest LLC now owns 2,606 shares of the business services provider's stock valued at $113,000 after purchasing an additional 502 shares in the last quarter. Institutional investors and hedge funds 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.