Cass Information Systems (NASDAQ:CASS) Downgraded by Zacks Research to Strong Sell

Key Points

• Cass Information Systems has been downgraded by Zacks Research from a "hold" rating to a "strong sell" rating, reflecting increasing concerns among analysts regarding the company's performance.
• The company's stock has experienced a 1.3% decline, trading at $38.10, significantly lower than its 52-week high of $47.14.
• Cass reported missed earnings estimates in its last quarterly earnings, with a reported $0.38 EPS, falling short of the $0.72 consensus estimate, influencing investor sentiment.

Cass Information Systems (NASDAQ:CASS - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Tuesday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Raymond James Financial set a $47.00 price objective on Cass Information Systems and gave the stock an "outperform" rating in a research report on Tuesday. Wall Street Zen raised Cass Information Systems from a "sell" rating to a "hold" rating in a research note on Monday, August 18th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Cass Information Systems in a report on Wednesday. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $46.50.

Cass Information Systems Stock Down 1.3%

Shares of Cass Information Systems stock traded down $0.49 on Tuesday, reaching $38.10. The company's stock had a trading volume of 10,962 shares, compared to its average volume of 52,396. The company has a market capitalization of $503.68 million, a P/E ratio of 20.48 and a beta of 0.46. Cass Information Systems has a 52-week low of $38.01 and a 52-week high of $47.14. The stock has a 50-day moving average price of $41.71 and a 200-day moving average price of $42.10.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The business services provider reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.72 by ($0.34). Cass Information Systems had a return on equity of 9.02% and a net margin of 13.22%.The company had revenue of $44.40 million for the quarter, compared to analyst estimates of $48.12 million. Sell-side analysts forecast 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 have recently modified their holdings of CASS. Janney Montgomery Scott LLC raised its holdings in Cass Information Systems by 11.0% in the first quarter. Janney Montgomery Scott LLC now owns 6,669 shares of the business services provider's stock worth $288,000 after purchasing an additional 660 shares during the period. Teacher Retirement System of Texas increased its stake in Cass Information Systems by 10.9% in the 1st quarter. Teacher Retirement System of Texas now owns 17,883 shares of the business services provider's stock valued at $773,000 after buying an additional 1,764 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Cass Information Systems by 4,823.3% during the 1st quarter. GAMMA Investing LLC now owns 12,456 shares of the business services provider's stock worth $539,000 after purchasing an additional 12,203 shares during the last quarter. CWM LLC increased its stake in shares of Cass Information Systems by 275.9% during the 1st quarter. CWM LLC now owns 1,947 shares of the business services provider's stock worth $84,000 after purchasing an additional 1,429 shares during the last quarter. Finally, Uniplan Investment Counsel Inc. increased its stake in shares of Cass Information Systems by 114.4% during the 1st quarter. Uniplan Investment Counsel Inc. now owns 90,919 shares of the business services provider's stock worth $3,932,000 after purchasing an additional 48,516 shares during the last quarter. 59.08% of the stock is owned by institutional investors.

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.

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