Cass Information Systems (NASDAQ:CASS) Coverage Initiated by Analysts at Raymond James Financial

Research analysts at Raymond James Financial started coverage on shares of Cass Information Systems (NASDAQ:CASS - Get Free Report) in a report issued on Tuesday, MarketBeat reports. The firm set an "outperform" rating and a $50.00 price target on the business services provider's stock. Raymond James Financial's price target suggests a potential upside of 16.25% from the company's previous close.

Other research analysts also recently issued research reports about the company. Wall Street Zen raised Cass Information Systems from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Piper Sandler dropped their price target on Cass Information Systems from $47.00 to $46.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd.

Cass Information Systems Price Performance

CASS traded down $1.78 on Tuesday, reaching $43.01. The company's stock had a trading volume of 81,619 shares, compared to its average volume of 46,388. The stock has a market cap of $574.61 million, a price-to-earnings ratio of 28.30 and a beta of 0.45. Cass Information Systems has a 1 year low of $37.99 and a 1 year high of $47.14. The business's 50 day moving average is $43.19 and its 200 day moving average is $42.32.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last released 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 8.84% and a net margin of 10.71%. The firm had revenue of $44.40 million for the quarter, compared to the consensus estimate of $48.12 million. As a group, research analysts forecast 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 institutional investors and hedge funds have recently added to or reduced their stakes in CASS. Janney Montgomery Scott LLC increased its stake in Cass Information Systems by 11.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,669 shares of the business services provider's stock valued at $288,000 after buying an additional 660 shares during the period. Teacher Retirement System of Texas increased its stake in Cass Information Systems by 10.9% during 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 period. GAMMA Investing LLC increased its stake in 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 valued at $539,000 after buying an additional 12,203 shares during the period. Raymond James Financial Inc. acquired a new stake in Cass Information Systems in the fourth quarter worth approximately $276,000. Finally, Deutsche Bank AG lifted its position in Cass Information Systems by 13.9% in the fourth quarter. Deutsche Bank AG now owns 8,266 shares of the business services provider's stock worth $338,000 after purchasing an additional 1,007 shares during the period. 59.08% of the stock is owned by institutional investors.

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.