Cass Information Systems (NASDAQ:CASS) Stock Passes Below Two Hundred Day Moving Average - What's Next?

Cass Information Systems, Inc (NASDAQ:CASS - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $42.17 and traded as low as $40.98. Cass Information Systems shares last traded at $41.34, with a volume of 39,671 shares.

Analysts Set New Price Targets

Separately, Piper Sandler cut 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 Stock Down 0.0%

The business has a 50-day moving average price of $41.67 and a 200-day moving average price of $42.17. The firm has a market capitalization of $552.30 million, a PE ratio of 27.20 and a beta of 0.44.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The business services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.03. The business had revenue of $46.41 million during the quarter, compared to analyst estimates of $51.49 million. Cass Information Systems had a return on equity of 8.84% and a net margin of 10.71%. On average, equities research analysts anticipate that Cass Information Systems, Inc will post 2.62 earnings per share for the current year.

Cass Information Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd were given a $0.31 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.00%. Cass Information Systems's dividend payout ratio (DPR) is presently 81.58%.

Institutional Investors Weigh In On Cass Information Systems

A number of large investors have recently made changes to their positions in CASS. Emmett Investment Management LP purchased a new stake in shares of Cass Information Systems in the fourth quarter valued at approximately $3,715,000. Nuveen LLC purchased a new position in Cass Information Systems in the first quarter worth approximately $3,507,000. Hotchkis & Wiley Capital Management LLC grew its position in Cass Information Systems by 92.0% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 141,770 shares of the business services provider's stock worth $6,132,000 after acquiring an additional 67,950 shares during the period. Heartland Advisors Inc. grew its position in Cass Information Systems by 13.7% in the first quarter. Heartland Advisors Inc. now owns 473,926 shares of the business services provider's stock worth $20,497,000 after acquiring an additional 56,979 shares during the period. Finally, Uniplan Investment Counsel Inc. grew its position in Cass Information Systems by 114.4% in the first quarter. Uniplan Investment Counsel Inc. now owns 90,919 shares of the business services provider's stock worth $3,932,000 after acquiring an additional 48,516 shares during the period. 59.08% of the stock is currently owned by hedge funds and other institutional investors.

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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