Cass Information Systems (NASDAQ:CASS) Stock Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• Cass Information Systems shares fell below their 200-day moving average, trading as low as $39.58 on Monday, compared to the average of $42.30.
• Despite recent stock price challenges, Wall Street analysts maintain a mostly positive outlook, with an average "Buy" rating and a consensus price target of $48.00.
• The company recently announced a quarterly dividend of $0.31 per share, yielding 3.1%, while reporting lower-than-expected earnings and revenue for their last quarter.

Cass Information Systems, Inc (NASDAQ:CASS - Get Free Report)'s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $42.30 and traded as low as $39.58. Cass Information Systems shares last traded at $39.69, with a volume of 42,200 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CASS. Wall Street Zen raised Cass Information Systems from a "sell" rating to a "hold" rating in a research note on Monday, August 18th. Raymond James Financial assumed coverage on shares of Cass Information Systems in a research note on Tuesday, July 15th. They set an "outperform" rating and a $50.00 target price on the stock. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $48.00.

Cass Information Systems Stock Down 1.7%

The firm has a 50-day moving average of $42.12 and a two-hundred day moving average of $42.30. The company has a market capitalization of $524.70 million, a PE ratio of 21.34 and a beta of 0.45.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last announced its quarterly earnings results 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 business 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%. On average, equities research analysts expect that Cass Information Systems, Inc will post 2.62 EPS for the current year.

Cass Information Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, September 5th. Cass Information Systems's dividend payout ratio (DPR) is 66.67%.

Hedge Funds Weigh In On Cass Information Systems

Several large investors have recently made changes to their positions in CASS. BNP Paribas Financial Markets boosted its position in shares of Cass Information Systems by 50.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the business services provider's stock worth $53,000 after purchasing an additional 413 shares during the period. Global X Japan Co. Ltd. purchased a new position in shares of Cass Information Systems during the first quarter worth $55,000. Copeland Capital Management LLC grew its stake 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 buying an additional 518 shares in the last quarter. CWM LLC grew its stake in shares of Cass Information Systems by 275.9% in 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. Finally, AlphaQuest LLC raised its holdings in shares of Cass Information Systems by 23.9% in the 1st quarter. AlphaQuest LLC now owns 2,606 shares of the business services provider's stock valued at $113,000 after buying an additional 502 shares during the period. 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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