Cass Information Systems (NASDAQ:CASS) Now Covered by Analysts at Raymond James Financial

Equities researchers at Raymond James Financial initiated coverage on shares of Cass Information Systems (NASDAQ:CASS - Get Free Report) in a note issued to investors on Tuesday, MarketBeat reports. The brokerage set an "outperform" rating and a $50.00 price target on the business services provider's stock. Raymond James Financial's price objective indicates a potential upside of 12.08% from the stock's previous close.

A number of other research analysts have also issued reports on the stock. Piper Sandler reduced 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 report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Cass Information Systems from a "sell" rating to a "hold" rating in a research report on Sunday.

Cass Information Systems Stock Up 1.0%

Shares of Cass Information Systems stock traded up $0.44 during trading on Tuesday, hitting $44.61. 67,339 shares of the company were exchanged, compared to its average volume of 46,196. Cass Information Systems has a fifty-two week low of $37.99 and a fifty-two week high of $47.14. The firm has a 50 day moving average price of $43.14 and a 200 day moving average price of $42.29. The stock has a market capitalization of $595.99 million, a price-to-earnings ratio of 29.35 and a beta of 0.45.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The business services provider reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.03. The company had revenue of $46.41 million during the quarter, compared to analysts' expectations of $51.49 million. Cass Information Systems had a return on equity of 8.84% and a net margin of 10.71%. Analysts predict that Cass Information Systems will post 2.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CASS. Huntington National Bank grew its position in Cass Information Systems by 72.9% during the fourth quarter. Huntington National Bank now owns 690 shares of the business services provider's stock valued at $28,000 after acquiring an additional 291 shares during the period. Aquatic Capital Management LLC purchased a new stake in shares of Cass Information Systems during the 4th quarter worth about $44,000. Global X Japan Co. Ltd. acquired a new stake in Cass Information Systems during the 1st quarter worth approximately $55,000. Copeland Capital Management LLC raised its holdings in Cass Information Systems by 56.7% in the first quarter. Copeland Capital Management LLC now owns 1,432 shares of the business services provider's stock valued at $62,000 after buying an additional 518 shares during the period. Finally, CWM LLC lifted its position in Cass Information Systems by 275.9% during the first quarter. CWM LLC now owns 1,947 shares of the business services provider's stock valued at $84,000 after buying an additional 1,429 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.