Cass Information Systems (NASDAQ:CASS) Share Price Crosses Below 200 Day Moving Average - Here's Why

Key Points

• Cass Information Systems' share price dropped below its 200-day moving average, trading as low as $36.07, with a current price of $36.78.
• Analysts have mixed views on the stock: Zacks downgraded it to a "strong sell", while Raymond James set a price target of $47.00 with an "outperform" rating.
• In its latest earnings report, Cass Information Systems missed the EPS estimate, reporting $0.38 compared to the expected $0.72, along with revenues of $44.40 million.

Cass Information Systems, Inc (NASDAQ:CASS - Get Free Report)'s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $41.85 and traded as low as $36.07. Cass Information Systems shares last traded at $36.78, with a volume of 134,457 shares.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CASS shares. Zacks Research lowered Cass Information Systems from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Cass Information Systems in a report on Wednesday, October 8th. Wall Street Zen raised shares of Cass Information Systems from a "sell" rating to a "hold" rating in a report on Monday, August 18th. Finally, Raymond James Financial set a $47.00 price objective on shares of Cass Information Systems and gave the stock an "outperform" rating in a research report on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Cass Information Systems presently has an average rating of "Hold" and a consensus target price of $46.50.

Cass Information Systems Stock Down 0.5%

The firm has a 50-day moving average price of $41.26 and a two-hundred day moving average price of $41.85. The firm has a market cap of $486.23 million, a PE ratio of 19.77 and a beta of 0.46.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The business services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.34). The firm had revenue of $44.40 million during the quarter, compared to analyst estimates of $48.12 million. Cass Information Systems had a net margin of 13.22% and a return on equity of 9.02%. Research analysts forecast that Cass Information Systems, Inc 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 bought and sold shares of the business. GAMMA Investing LLC grew 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 acquiring an additional 12,203 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of 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 worth $288,000 after purchasing an additional 660 shares during the last quarter. Global X Japan Co. Ltd. purchased a new stake in shares of Cass Information Systems in the first quarter valued at approximately $55,000. Copeland Capital Management LLC increased its holdings in shares of 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 purchasing an additional 518 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its position in Cass Information Systems by 10.9% during the first quarter. Teacher Retirement System of Texas now owns 17,883 shares of the business services provider's stock worth $773,000 after buying an additional 1,764 shares in the last quarter. 59.08% of the stock is currently owned by institutional investors and hedge funds.

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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