Cass Information Systems (NASDAQ:CASS) Cut to Sell at Wall Street Zen

Cass Information Systems (NASDAQ:CASS) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

Other analysts have also issued research reports about the company. Raymond James Financial began coverage on Cass Information Systems in a research note on Tuesday, July 15th. They issued an “outperform” rating and a $50.00 target price on the stock. Piper Sandler reduced their price target on Cass Information Systems from $47.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd.

Cass Information Systems Trading Down 4.0%

NASDAQ CASS opened at $43.01 on Monday. Cass Information Systems has a 12 month low of $37.99 and a 12 month high of $47.14. The company’s 50 day moving average is $43.20 and its two-hundred day moving average is $42.36. The stock has a market cap of $574.61 million, a price-to-earnings ratio of 23.12 and a beta of 0.45.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings results on Thursday, July 17th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.34). Cass Information Systems had a net margin of 13.22% and a return on equity of 9.09%. The company had revenue of $44.40 million during the quarter, compared to the consensus estimate of $48.12 million. Sell-side analysts forecast that Cass Information Systems will post 2.62 EPS for the current year.

Institutional Investors Weigh In On Cass Information Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in CASS. Janney Montgomery Scott LLC lifted its position in Cass Information Systems by 11.0% during the first quarter. Janney Montgomery Scott LLC now owns 6,669 shares of the business services provider’s stock worth $288,000 after buying an additional 660 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Cass Information Systems by 10.9% in the first quarter. Teacher Retirement System of Texas now owns 17,883 shares of the business services provider’s stock valued at $773,000 after purchasing an additional 1,764 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Cass Information Systems by 4,823.3% in the first quarter. GAMMA Investing LLC now owns 12,456 shares of the business services provider’s stock valued at $539,000 after acquiring an additional 12,203 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Cass Information Systems in the 4th quarter valued at about $276,000. Finally, Deutsche Bank AG grew its holdings in Cass Information Systems by 13.9% during the 4th quarter. Deutsche Bank AG now owns 8,266 shares of the business services provider’s stock worth $338,000 after acquiring an additional 1,007 shares in the last quarter. Hedge funds and other institutional investors own 59.08% of the company’s stock.

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.