Cass Information Systems (NASDAQ:CASS) Raised to "Hold" at Wall Street Zen

Key Points

• Cass Information Systems has been upgraded from a "sell" to a "hold" rating by analysts at Wall Street Zen.
• Raymond James has initiated coverage with an "outperform" rating and a target price of $50, while Piper Sandler has adjusted its target price to $46, maintaining an "overweight" rating.
• The company reported earnings of $0.38 per share, missing estimates, and its revenue for the quarter was $44.40 million, below the consensus estimate of $48.12 million.

Wall Street Zen upgraded shares of Cass Information Systems (NASDAQ:CASS - Free Report) from a sell rating to a hold rating in a research report sent to investors on Monday.

Several other research firms have also commented on CASS. Piper Sandler cut their price target on shares of Cass Information Systems from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Raymond James Financial initiated coverage on shares of Cass Information Systems in a research report on Tuesday, July 15th. They set an "outperform" rating and a $50.00 price target for the company. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $48.00.

Cass Information Systems Stock Performance

Shares of CASS traded down $0.37 during trading hours on Monday, hitting $42.01. The stock had a trading volume of 23,770 shares, compared to its average volume of 52,696. Cass Information Systems has a 12-month low of $38.01 and a 12-month high of $47.14. The firm has a market cap of $555.37 million, a P/E ratio of 22.59 and a beta of 0.48. The company's fifty day simple moving average is $42.82 and its 200 day simple moving average is $42.52.

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 firm had revenue of $44.40 million for the quarter, compared to analyst estimates of $48.12 million. Cass Information Systems had a return on equity of 9.02% and a net margin of 13.22%. As a group, sell-side analysts predict that Cass Information Systems will post 2.62 earnings per share for the current fiscal year.

Cass Information Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, September 5th. Cass Information Systems's dividend payout ratio is currently 66.67%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. LPL Financial LLC raised its holdings in Cass Information Systems by 7.0% during the 4th quarter. LPL Financial LLC now owns 14,901 shares of the business services provider's stock worth $610,000 after buying an additional 976 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Cass Information Systems by 91.1% during the fourth quarter. JPMorgan Chase & Co. now owns 44,418 shares of the business services provider's stock worth $1,817,000 after purchasing an additional 21,177 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Cass Information Systems by 8.0% during the fourth quarter. Wells Fargo & Company MN now owns 37,876 shares of the business services provider's stock worth $1,549,000 after purchasing an additional 2,810 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Cass Information Systems by 4.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 47,205 shares of the business services provider's stock valued at $1,931,000 after buying an additional 2,025 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Cass Information Systems in the fourth quarter valued at about $276,000. 59.08% of the stock is currently owned by institutional investors and hedge funds.

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.