Cass Information Systems (NASDAQ:CASS) Shares Gap Down to $44.73

Shares of Cass Information Systems, Inc. (NASDAQ:CASS - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $44.73, but opened at $43.45. Cass Information Systems shares last traded at $43.59, with a volume of 3,992 shares trading hands.

Wall Street Analysts Forecast Growth

CASS has been the subject of several research reports. Piper Sandler upgraded shares of Cass Information Systems from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $45.00 to $51.00 in a research report on Monday, February 12th. TheStreet downgraded shares of Cass Information Systems from a "b-" rating to a "c" rating in a research note on Thursday, January 25th. Finally, StockNews.com downgraded shares of Cass Information Systems from a "buy" rating to a "hold" rating in a research note on Wednesday.

Cass Information Systems Trading Down 2.3 %

The company has a market cap of $595.36 million, a PE ratio of 20.11 and a beta of 0.73. The company's 50 day moving average is $46.83 and its 200 day moving average is $43.25.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last posted its quarterly earnings results on Thursday, January 25th. The business services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.48 by $0.13. The company had revenue of $50.74 million for the quarter, compared to the consensus estimate of $48.33 million. Cass Information Systems had a net margin of 15.22% and a return on equity of 13.84%. Analysts expect that Cass Information Systems, Inc. will post 2.74 EPS for the current year.

Cass Information Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Monday, March 4th. Cass Information Systems's dividend payout ratio (DPR) is 55.05%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC purchased a new position in Cass Information Systems during the 1st quarter valued at about $42,000. Tower Research Capital LLC TRC increased its position in Cass Information Systems by 277.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 988 shares of the business services provider's stock valued at $43,000 after purchasing an additional 726 shares during the period. Citigroup Inc. increased its position in Cass Information Systems by 60.4% during the 1st quarter. Citigroup Inc. now owns 1,192 shares of the business services provider's stock valued at $52,000 after purchasing an additional 449 shares during the period. Comerica Bank purchased a new position in Cass Information Systems during the 3rd quarter valued at about $71,000. Finally, Global Retirement Partners LLC purchased a new position in Cass Information Systems during the 4th quarter valued at about $114,000. Hedge funds and other institutional investors own 59.08% of the company's stock.

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.