Cass Information Systems (NASDAQ:CASS) Reaches New 1-Year High - What's Next?

Key Points

• Cass Information Systems reached a new 52-week high, trading as high as $59.63, while its shares have risen above both the 50-day and 200-day moving averages.
• Analyst sentiment remains positive overall, with an average rating of “Moderate Buy” and an average price target of $58.50, though ratings range from Buy to Hold.
• The company reported quarterly EPS of $0.71, slightly below expectations, but maintained a quarterly dividend of $0.32, representing a 2.2% yield and a 46.04% payout ratio.

Shares of Cass Information Systems, Inc (NASDAQ:CASS - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $59.63 and last traded at $57.99, with a volume of 26475 shares changing hands. The stock had previously closed at $57.70.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Raymond James Financial boosted their price objective on Cass Information Systems from $52.00 to $56.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cass Information Systems in a report on Tuesday, August 4th. Piper Sandler reiterated a "neutral" rating and issued a $61.00 price target (up from $52.00) on shares of Cass Information Systems in a research note on Thursday, August 6th. Finally, Zacks Research cut shares of Cass Information Systems from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Cass Information Systems has an average rating of "Moderate Buy" and an average price target of $58.50.

Cass Information Systems Trading Down 1.0%

The firm has a market cap of $731.77 million, a PE ratio of 20.55 and a beta of 0.41. The business has a fifty day moving average price of $53.33 and a 200 day moving average price of $48.40.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The business services provider reported $0.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.72 by ($0.01). The business had revenue of $27.04 million during the quarter, compared to analyst estimates of $51.02 million. Cass Information Systems had a net margin of 18.45% and a return on equity of 14.89%. On average, research analysts expect that Cass Information Systems, Inc will post 2.99 earnings per share for the current fiscal year.

Cass Information Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Friday, September 4th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, September 4th. Cass Information Systems's dividend payout ratio is currently 46.04%.

Institutional Trading of Cass Information Systems

Several institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC purchased a new position in Cass Information Systems during the 2nd quarter worth approximately $225,000. Punch & Associates Investment Management Inc. acquired a new stake in shares of Cass Information Systems in the second quarter valued at approximately $8,033,000. Bank of America Corp DE acquired a new stake in shares of Cass Information Systems in the second quarter valued at approximately $629,000. Odyssean LLC purchased a new position in shares of Cass Information Systems during the second quarter worth approximately $979,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Cass Information Systems during the second quarter worth approximately $272,000. 59.08% of the stock is owned by hedge funds and other 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. The company also processes and pays facility-related invoices, such as electricity, gas, waste, and telecommunications expenses; and provides telecom expense management solutions, as well as church management software solution and on-line platform to provide generosity services for faith-based and non-profit organizations.

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