Cass Information Systems (NASDAQ:CASS) Rating Lowered to "Sell" at Wall Street Zen

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

Separately, Piper Sandler reduced their price objective on Cass Information Systems from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd.

Cass Information Systems Trading Up 1.2%

NASDAQ:CASS opened at $46.21 on Friday. The company has a 50-day moving average of $42.60 and a 200-day moving average of $42.12. The firm has a market cap of $617.30 million, a price-to-earnings ratio of 30.40 and a beta of 0.45. Cass Information Systems has a twelve month low of $37.99 and a twelve month high of $47.14.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last issued its 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 firm had revenue of $46.41 million during the quarter, compared to analysts' expectations of $51.49 million. Cass Information Systems had a net margin of 10.71% and a return on equity of 8.84%. On average, research analysts forecast that Cass Information Systems will post 2.62 earnings per share for the current year.

Institutional Investors Weigh In On Cass Information Systems

A number of large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Cass Information Systems by 7.7% in the fourth quarter. Bank of New York Mellon Corp now owns 87,456 shares of the business services provider's stock worth $3,578,000 after buying an additional 6,236 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Cass Information Systems by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,325 shares of the business services provider's stock worth $4,268,000 after acquiring an additional 716 shares during the period. Raymond James Financial Inc. purchased a new position in Cass Information Systems during the 4th quarter valued at about $276,000. Commonwealth Equity Services LLC grew its stake in Cass Information Systems by 7.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 34,339 shares of the business services provider's stock valued at $1,405,000 after acquiring an additional 2,252 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in shares of Cass Information Systems by 3.3% in the 4th quarter. Royce & Associates LP now owns 265,907 shares of the business services provider's stock valued at $10,878,000 after purchasing an additional 8,568 shares during the period. Institutional investors and hedge funds own 59.08% of the company's stock.

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.

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