Cass Information Systems (NASDAQ:CASS) Downgraded to "Sell" Rating by 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 research note issued to investors on Monday.

CASS has been the subject of a number of other reports. Piper Sandler decreased their price objective on Cass Information Systems from $47.00 to $46.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Raymond James Financial assumed coverage on Cass Information Systems in a report on Tuesday, July 15th. They set an "outperform" rating and a $50.00 price objective for the company.

Cass Information Systems Trading Down 0.6%

Cass Information Systems stock traded down $0.24 during midday trading on Monday, reaching $43.10. The stock had a trading volume of 53,894 shares, compared to its average volume of 46,106. Cass Information Systems has a 12 month low of $37.99 and a 12 month high of $47.14. The company has a market capitalization of $575.82 million, a P/E ratio of 23.17 and a beta of 0.45. The company has a fifty day moving average price of $43.20 and a two-hundred day moving average price of $42.36.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $44.40 million for the quarter, compared to the consensus estimate of $48.12 million. Cass Information Systems had a return on equity of 9.09% and a net margin of 13.22%. On average, equities research analysts predict that Cass Information Systems will post 2.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cass Information Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Copeland Capital Management LLC boosted its stake in shares of Cass Information Systems by 16.4% in the 2nd quarter. Copeland Capital Management LLC now owns 1,667 shares of the business services provider's stock worth $72,000 after buying an additional 235 shares during the last quarter. Compass Ion Advisors LLC purchased a new position in shares of Cass Information Systems in the 2nd quarter worth approximately $201,000. Jane Street Group LLC purchased a new position in shares of Cass Information Systems in the 1st quarter worth approximately $848,000. Uniplan Investment Counsel Inc. boosted its stake in shares of Cass Information Systems by 114.4% in the 1st quarter. Uniplan Investment Counsel Inc. now owns 90,919 shares of the business services provider's stock worth $3,932,000 after buying an additional 48,516 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Cass Information Systems by 4.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,022 shares of the business services provider's stock worth $347,000 after buying an additional 312 shares during the last quarter. Hedge funds and other institutional investors 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.