Cass Information Systems (NASDAQ:CASS) Stock Passes Above Fifty Day Moving Average – Here’s Why

Cass Information Systems, Inc (NASDAQ:CASS)’s stock price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $41.73 and traded as high as $42.01. Cass Information Systems shares last traded at $41.19, with a volume of 86,087 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CASS. Zacks Research upgraded shares of Cass Information Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Raymond James Financial reaffirmed an “outperform” rating and issued a $45.00 price objective (down from $47.00) on shares of Cass Information Systems in a research report on Friday, October 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cass Information Systems in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cass Information Systems presently has an average rating of “Moderate Buy” and an average price target of $45.50.

Cass Information Systems Trading Up 1.5%

The company has a market capitalization of $538.77 million, a PE ratio of 17.68 and a beta of 0.44. The stock’s fifty day moving average is $41.73 and its two-hundred day moving average is $41.76.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings data on Thursday, October 23rd. The business services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.63 by $0.06. The business had revenue of $54.01 million for the quarter, compared to analyst estimates of $50.20 million. Cass Information Systems had a net margin of 16.48% and a return on equity of 11.61%. As a group, analysts anticipate that Cass Information Systems, Inc will post 2.62 EPS for the current fiscal year.

Cass Information Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, December 5th were issued a $0.32 dividend. This is a boost from Cass Information Systems’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.1%. Cass Information Systems’s payout ratio is presently 54.94%.

Institutional Trading of Cass Information Systems

A number of large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of Cass Information Systems by 174.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,687 shares of the business services provider’s stock valued at $735,000 after buying an additional 11,890 shares during the last quarter. Triumph Capital Management bought a new stake in Cass Information Systems in the 3rd quarter valued at about $25,000. Speece Thorson Capital Group Inc. raised its stake in Cass Information Systems by 6.4% in the 3rd quarter. Speece Thorson Capital Group Inc. now owns 351,073 shares of the business services provider’s stock valued at $13,808,000 after acquiring an additional 21,037 shares during the period. Millennium Management LLC lifted its holdings in Cass Information Systems by 82.9% during the third quarter. Millennium Management LLC now owns 24,477 shares of the business services provider’s stock valued at $963,000 after purchasing an additional 11,094 shares during the last quarter. Finally, Emmett Investment Management LP boosted its position in Cass Information Systems by 14.9% during the third quarter. Emmett Investment Management LP now owns 134,995 shares of the business services provider’s stock worth $5,286,000 after purchasing an additional 17,520 shares during the period. 59.08% of the stock is owned by hedge funds and other institutional investors.

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. The company also processes and pays facility-related invoices, such as electricity, gas, waste, and telecommunications expenses; and provides telecom expense management solutions, as well as church management software solution and on-line platform to provide generosity services for faith-based and non-profit organizations.