StockNews.com Lowers Cass Information Systems (NASDAQ:CASS) to Hold

StockNews.com downgraded shares of Cass Information Systems (NASDAQ:CASSFree Report) from a buy rating to a hold rating in a report issued on Wednesday morning.

CASS has been the subject of a number of other reports. Piper Sandler raised Cass Information Systems from a neutral rating to an overweight rating and lifted their price objective for the company from $45.00 to $51.00 in a report on Monday, February 12th. TheStreet cut Cass Information Systems from a b- rating to a c rating in a report on Thursday, January 25th.

Get Our Latest Stock Report on CASS

Cass Information Systems Price Performance

CASS opened at $44.73 on Wednesday. Cass Information Systems has a fifty-two week low of $35.05 and a fifty-two week high of $50.25. The firm’s fifty day moving average price is $46.83 and its two-hundred day moving average price is $43.25. The company has a market capitalization of $609.67 million, a P/E ratio of 20.52 and a beta of 0.73.

Cass Information Systems (NASDAQ:CASSGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.13. The company had revenue of $50.74 million during the quarter, compared to analysts’ expectations of $48.33 million. Cass Information Systems had a return on equity of 13.84% and a net margin of 15.22%. On average, equities research analysts expect that Cass Information Systems will post 2.74 EPS for the current fiscal year.

Cass Information Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, March 5th were issued a $0.30 dividend. The ex-dividend date was Monday, March 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.68%. Cass Information Systems’s dividend payout ratio is 55.05%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CASS. Swiss National Bank raised its holdings in shares of Cass Information Systems by 4.3% in the first quarter. Swiss National Bank now owns 31,452 shares of the business services provider’s stock valued at $1,161,000 after buying an additional 1,300 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Cass Information Systems in the first quarter valued at about $1,266,000. Bank of New York Mellon Corp raised its holdings in shares of Cass Information Systems by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 101,668 shares of the business services provider’s stock valued at $3,752,000 after buying an additional 963 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Cass Information Systems in the first quarter valued at about $42,000. Finally, MetLife Investment Management LLC raised its holdings in Cass Information Systems by 49.7% during the 1st quarter. MetLife Investment Management LLC now owns 8,536 shares of the business services provider’s stock worth $315,000 after purchasing an additional 2,833 shares during the last quarter. 59.08% of the stock is owned by institutional investors.

About Cass Information Systems

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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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