Cass Information Systems (NASDAQ:CASS) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Key Points

• Cass Information Systems reported a quarterly EPS of $0.69, surpassing expectations by $0.02, while achieving a return on equity of 9.02% and a net margin of 13.22%.
• Shares of CASS experienced a slight increase of $0.49 during trading, reaching $38.53, with a market cap of approximately $509.30 million.
• Analysts have varying ratings on Cass Information Systems, with a consensus rating of "Hold" and an average price target of $46.50.

Cass Information Systems (NASDAQ:CASS - Get Free Report) released its quarterly earnings data on Thursday. The business services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.06, Zacks reports. Cass Information Systems had a net margin of 13.22% and a return on equity of 9.02%. The business had revenue of $50.06 million during the quarter, compared to analyst estimates of $50.20 million.

Cass Information Systems Trading Up 0.7%

Shares of NASDAQ:CASS traded up $0.26 during trading on Thursday, reaching $38.30. 9,401 shares of the stock were exchanged, compared to its average volume of 55,742. Cass Information Systems has a 12 month low of $36.07 and a 12 month high of $47.14. The firm has a market cap of $506.33 million, a PE ratio of 20.61 and a beta of 0.46. The stock has a 50-day moving average price of $40.91 and a 200-day moving average price of $41.73.

Analyst Ratings Changes

Several research analysts have recently issued reports on CASS shares. Weiss Ratings restated a "hold (c)" rating on shares of Cass Information Systems in a report on Wednesday, October 8th. Zacks Research lowered shares of Cass Information Systems from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 7th. Raymond James Financial set a $47.00 target price on shares of Cass Information Systems and gave the company an "outperform" rating in a research note on Tuesday, October 7th. Finally, Wall Street Zen raised shares of Cass Information Systems from a "sell" rating to a "hold" rating in a research report on Monday, August 18th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $46.50.

Institutional Investors Weigh In On Cass Information Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co raised its position in shares of Cass Information Systems by 8.0% in the second quarter. CANADA LIFE ASSURANCE Co now owns 15,040 shares of the business services provider's stock valued at $655,000 after buying an additional 1,110 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Cass Information Systems by 1,671.4% in the second quarter. Tower Research Capital LLC TRC now owns 4,588 shares of the business services provider's stock valued at $199,000 after buying an additional 4,329 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Cass Information Systems by 50.7% in the second quarter. BNP Paribas Financial Markets now owns 1,227 shares of the business services provider's stock valued at $53,000 after buying an additional 413 shares in the last quarter. Jane Street Group LLC raised its position in Cass Information Systems by 10.8% during the second quarter. Jane Street Group LLC now owns 21,741 shares of the business services provider's stock valued at $945,000 after purchasing an additional 2,126 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new position in Cass Information Systems during the second quarter valued at approximately $307,000. 59.08% of the stock is currently owned by institutional investors and hedge funds.

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.