Cass Information Systems (NASDAQ:CASS) Lowered to “Hold” Rating by Zacks Research
by Kim Johansen · The Markets DailyCass Information Systems (NASDAQ:CASS – Get Free Report) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.
Several other research analysts have also recently weighed in on the stock. Raymond James Financial boosted their price objective on shares of Cass Information Systems from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Piper Sandler reissued a “neutral” rating and issued a $61.00 target price (up from $52.00) on shares of Cass Information Systems in a research note on Thursday, August 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cass Information Systems in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $58.50.
Get Our Latest Analysis on Cass Information Systems
Cass Information Systems Trading Down 0.2%
CASS opened at $58.41 on Thursday. Cass Information Systems has a 1-year low of $36.07 and a 1-year high of $59.14. The stock has a market capitalization of $748.23 million, a PE ratio of 21.01 and a beta of 0.41. The firm has a 50-day moving average price of $52.94 and a two-hundred day moving average price of $48.18.
Cass Information Systems (NASDAQ:CASS – Get Free Report) last announced its earnings results on Thursday, July 23rd. The business services provider reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). Cass Information Systems had a return on equity of 14.89% and a net margin of 18.45%.The company had revenue of $27.04 million for the quarter, compared to analyst estimates of $51.02 million. On average, research analysts predict that Cass Information Systems will post 2.99 EPS for the current year.
Institutional Investors Weigh In On Cass Information Systems
A number of institutional investors and hedge funds have recently modified their holdings of CASS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Cass Information Systems by 4.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,022 shares of the business services provider’s stock valued at $347,000 after acquiring an additional 312 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Cass Information Systems by 3.4% during the 3rd quarter. Natixis Advisors LLC now owns 11,048 shares of the business services provider’s stock valued at $435,000 after acquiring an additional 367 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Cass Information Systems by 50.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 413 shares during the period. Glenmede Investment Management LP boosted its position in shares of Cass Information Systems by 5.1% in the 3rd quarter. Glenmede Investment Management LP now owns 8,765 shares of the business services provider’s stock worth $345,000 after purchasing an additional 422 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Cass Information Systems by 3.1% in the 4th quarter. Invesco Ltd. now owns 18,761 shares of the business services provider’s stock worth $779,000 after purchasing an additional 563 shares during the last quarter. 59.08% of the stock is owned by 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.