Cass Information Systems (NASDAQ:CASS) Stock Passes Below 200-Day Moving Average - Here's Why

Shares of Cass Information Systems, Inc (NASDAQ:CASS - Get Free Report) 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 changing hands.

Analyst Ratings Changes

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

Cass Information Systems Stock Down 0.8%

The firm has a market capitalization of $552.57 million, a PE ratio of 27.21 and a beta of 0.44. The stock has a 50-day moving average price of $41.77 and a 200 day moving average price of $42.10.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The business services provider reported $0.63 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 analysts' expectations of $51.49 million. Cass Information Systems had a return on equity of 8.84% and a net margin of 10.71%. As a group, equities analysts predict that Cass Information Systems, Inc will post 2.62 earnings per share for the current fiscal year.

Cass Information Systems Announces Dividend

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

Institutional Trading of Cass Information Systems

Institutional investors and hedge funds have recently made changes to their positions in the business. Huntington National Bank increased its position in shares of Cass Information Systems by 72.9% in the fourth quarter. Huntington National Bank now owns 690 shares of the business services provider's stock valued at $28,000 after buying an additional 291 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Cass Information Systems in the fourth quarter valued at approximately $44,000. Global X Japan Co. Ltd. purchased a new stake in shares of Cass Information Systems during the first quarter worth approximately $55,000. Copeland Capital Management LLC increased its position in shares of Cass Information Systems by 56.7% during the first quarter. Copeland Capital Management LLC now owns 1,432 shares of the business services provider's stock worth $62,000 after purchasing an additional 518 shares in the last quarter. Finally, CWM LLC increased its position in shares of Cass Information Systems by 275.9% during the first quarter. CWM LLC now owns 1,947 shares of the business services provider's stock worth $84,000 after purchasing an additional 1,429 shares in the last quarter. 59.08% of the stock is currently 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.