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

Key Points

• Cass Information Systems' stock has fallen below its 200-day moving average of $42.40, trading as low as $41.39 and closing at $41.49.
• Wall Street analysts have set an average target price of $48.00 for the stock, with Raymond James giving it an "outperform" rating and a price target of $50.00.
• The company recently reported earnings per share (EPS) of $0.38, missing estimates of $0.72, while revenue for the quarter was $44.40 million, below the expected $48.12 million.

Cass Information Systems, Inc (NASDAQ:CASS - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $42.40 and traded as low as $41.39. Cass Information Systems shares last traded at $41.49, with a volume of 109,642 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on CASS. Wall Street Zen upgraded shares of Cass Information Systems from a "sell" rating to a "hold" rating in a report on Monday, August 18th. Raymond James Financial began coverage on shares of Cass Information Systems in a report on Tuesday, July 15th. They issued an "outperform" rating and a $50.00 target price for the company. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $48.00.

Cass Information Systems Stock Performance

The company's fifty day simple moving average is $42.47 and its two-hundred day simple moving average is $42.37. The stock has a market capitalization of $553.06 million, a PE ratio of 22.49 and a beta of 0.45.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.34). Cass Information Systems had a net margin of 13.22% and a return on equity of 9.02%. The company had revenue of $44.40 million during the quarter, compared to analysts' expectations of $48.12 million. Sell-side analysts forecast that Cass Information Systems, Inc will post 2.62 EPS for the current fiscal year.

Cass Information Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, September 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.0%. Cass Information Systems's payout ratio is 66.67%.

Institutional Investors Weigh In On Cass Information Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co grew its holdings in shares of Cass Information Systems by 8.0% during the second quarter. CANADA LIFE ASSURANCE Co now owns 15,040 shares of the business services provider's stock worth $655,000 after buying an additional 1,110 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Cass Information Systems by 1,671.4% during the second quarter. Tower Research Capital LLC TRC now owns 4,588 shares of the business services provider's stock worth $199,000 after buying an additional 4,329 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Cass Information Systems by 50.7% during the second quarter. BNP Paribas Financial Markets now owns 1,227 shares of the business services provider's stock worth $53,000 after buying an additional 413 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Cass Information Systems by 10.8% during the second quarter. Jane Street Group LLC now owns 21,741 shares of the business services provider's stock worth $945,000 after buying an additional 2,126 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in shares of Cass Information Systems during the second quarter worth about $307,000. 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.