Cass Information Systems (NASDAQ:CASS) Downgraded by StockNews.com

Cass Information Systems (NASDAQ:CASS) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other research firms also recently commented on CASS. Piper Sandler raised shares of Cass Information Systems from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $45.00 to $51.00 in a report on Monday, February 12th. TheStreet downgraded shares of Cass Information Systems from a “b-” rating to a “c” rating in a report on Thursday, January 25th.

Cass Information Systems Price Performance

NASDAQ CASS opened at $43.62 on Friday. Cass Information Systems has a 1 year low of $35.05 and a 1 year high of $50.25. The firm has a market cap of $594.54 million, a price-to-earnings ratio of 19.92 and a beta of 0.73. The company has a fifty day moving average price of $46.37 and a 200-day moving average price of $43.51.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings results on Thursday, January 25th. The business services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.13. The company had revenue of $50.74 million during the quarter, compared to analyst estimates of $48.33 million. Cass Information Systems had a net margin of 15.21% and a return on equity of 13.86%. On average, research analysts anticipate that Cass Information Systems will post 2.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Cass Information Systems

Several institutional investors have recently added to or reduced their stakes in the business. Speece Thorson Capital Group Inc. lifted its holdings in Cass Information Systems by 194.2% during the first quarter. Speece Thorson Capital Group Inc. now owns 158,801 shares of the business services provider’s stock valued at $7,649,000 after purchasing an additional 104,817 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cass Information Systems by 39.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 73,820 shares of the business services provider’s stock worth $3,556,000 after buying an additional 21,032 shares in the last quarter. Compass Ion Advisors LLC purchased a new stake in shares of Cass Information Systems in the first quarter worth about $223,000. Dumont & Blake Investment Advisors LLC purchased a new stake in shares of Cass Information Systems in the first quarter worth about $207,000. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Cass Information Systems by 57.6% in the first quarter. Los Angeles Capital Management LLC now owns 55,835 shares of the business services provider’s stock worth $2,690,000 after buying an additional 20,416 shares in the last quarter. 59.08% of the stock is 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.