Cass Information Systems (NASDAQ:CASS) Stock Rating Upgraded by Wall Street Zen

Cass Information Systems (NASDAQ:CASS) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

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

Cass Information Systems Price Performance

Cass Information Systems stock opened at $39.63 on Friday. The company has a market capitalization of $529.46 million, a price-to-earnings ratio of 21.31 and a beta of 0.48. Cass Information Systems has a one year low of $37.99 and a one year high of $47.14. The company’s fifty day moving average price is $42.97 and its two-hundred day moving average price is $42.46.

Cass Information Systems (NASDAQ:CASS) last posted its 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 business 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 9.09% and a net margin of 13.22%. As a group, sell-side analysts anticipate that Cass Information Systems will post 2.62 earnings per share for the current year.

Institutional Investors Weigh In On Cass Information Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Huntington National Bank grew its position in shares of Cass Information Systems by 72.9% in the fourth quarter. Huntington National Bank now owns 690 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 291 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Cass Information Systems in the fourth quarter valued at about $44,000. Global X Japan Co. Ltd. acquired a new stake in shares of Cass Information Systems in the first quarter valued at about $55,000. Copeland Capital Management LLC grew its position in shares of Cass Information Systems by 56.7% in the first quarter. Copeland Capital Management LLC now owns 1,432 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 518 shares during the last quarter. Finally, CWM LLC grew its position in shares of Cass Information Systems by 275.9% in the first quarter. CWM LLC now owns 1,947 shares of the business services provider’s stock valued at $84,000 after purchasing an additional 1,429 shares during the last quarter. 59.08% of the stock is owned by institutional investors and hedge funds.

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.