Cass Information Systems (NASDAQ:CASS) Stock Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Cass Information Systems, Inc (NASDAQ:CASS) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $42.40 and traded as low as $41.39. Cass Information Systems shares last traded at $41.49, with a volume of 109,642 shares traded.

Wall Street Analysts Forecast Growth

CASS has been the topic of a number of analyst reports. Raymond James Financial initiated 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. Wall Street Zen upgraded shares of Cass Information Systems from a “sell” rating to a “hold” rating in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $48.00.

Cass Information Systems Trading Down 2.9%

The company has a market capitalization of $548.50 million, a P/E ratio of 22.31 and a beta of 0.45. The business’s 50-day simple moving average is $42.52 and its 200 day simple moving average is $42.40.

Cass Information Systems (NASDAQ:CASS) last released its earnings results on Thursday, July 17th. The business services provider reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.34). The business had revenue of $44.40 million during the quarter, compared to the consensus estimate of $48.12 million. Cass Information Systems had a return on equity of 9.02% and a net margin of 13.22%. As a group, sell-side analysts predict that Cass Information Systems, Inc will post 2.62 EPS for the current fiscal year.

Cass Information Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, September 5th. Cass Information Systems’s payout ratio is currently 66.67%.

Institutional Trading of Cass Information Systems

A number of institutional investors and hedge funds have recently modified their holdings of CASS. ProShare Advisors LLC lifted its stake in shares of Cass Information Systems by 63.7% in the second quarter. ProShare Advisors LLC now owns 278,138 shares of the business services provider’s stock worth $12,085,000 after buying an additional 108,185 shares during the last quarter. CSM Advisors LLC acquired a new position in Cass Information Systems during the 2nd quarter valued at $4,045,000. Nuveen LLC acquired a new position in Cass Information Systems during the 1st quarter valued at $3,507,000. Gabelli Funds LLC acquired a new position in Cass Information Systems during the 2nd quarter valued at $3,084,000. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in Cass Information Systems by 92.0% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 141,770 shares of the business services provider’s stock valued at $6,132,000 after purchasing an additional 67,950 shares during the last quarter. 59.08% of the stock is currently 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.