Cass Information Systems (NASDAQ:CASS) Rating Increased to Hold at Wall Street Zen

Key Points

• Cass Information Systems has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a shift in investor sentiment towards the stock.
• Raymond James Financial began coverage with an "outperform" rating and a target price of $50.00, while Piper Sandler adjusted its price objective to $46.00 with an "overweight" rating.
• The company reported earnings of $0.38 per share for the recent quarter, below analysts' expectations of $0.72, along with revenue of $44.40 million against an estimated $48.12 million.

Cass Information Systems (NASDAQ:CASS - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Other research analysts have also issued reports about the stock. Raymond James Financial began coverage on shares of Cass Information Systems in a research report on Tuesday, July 15th. They set an "outperform" rating and a $50.00 price target on the stock. Piper Sandler decreased their price objective on shares of Cass Information Systems from $47.00 to $46.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd.

Cass Information Systems Price Performance

CASS opened at $39.63 on Friday. The company's 50-day moving average is $42.97 and its 200 day moving average is $42.43. 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 market capitalization of $529.46 million, a P/E ratio of 21.31 and a beta of 0.48.

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

Institutional Trading of Cass Information Systems

Large investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC increased its holdings in Cass Information Systems by 11.0% during the first quarter. Janney Montgomery Scott LLC now owns 6,669 shares of the business services provider's stock worth $288,000 after buying an additional 660 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Cass Information Systems by 10.9% in the first quarter. Teacher Retirement System of Texas now owns 17,883 shares of the business services provider's stock worth $773,000 after purchasing an additional 1,764 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Cass Information Systems by 4,823.3% in the first 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 in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Cass Information Systems in the fourth quarter worth about $276,000. Finally, Deutsche Bank AG increased its stake in shares of 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 in 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.

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