Cass Information Systems (NASDAQ:CASS) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Cass Information Systems (NASDAQ:CASS) from a hold rating to a sell rating in a research report report published on Sunday morning.

A number of other equities research analysts have also recently issued reports on the company. Raymond James Financial initiated coverage on Cass Information Systems in a research note on Tuesday, July 15th. They set an “outperform” rating and a $50.00 price objective on the stock. Piper Sandler dropped their price objective on Cass Information Systems from $47.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd.

Cass Information Systems Stock Performance

NASDAQ CASS opened at $41.24 on Friday. The stock has a market capitalization of $545.19 million, a price-to-earnings ratio of 22.17 and a beta of 0.48. The stock’s 50 day moving average price is $42.82 and its two-hundred day moving average price is $42.49. Cass Information Systems has a 52 week low of $38.01 and a 52 week high of $47.14.

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 the consensus estimate of $0.72 by ($0.34). The firm had revenue of $44.40 million during the quarter, compared to the consensus estimate of $48.12 million. Cass Information Systems had a net margin of 13.22% and a return on equity of 9.02%. On average, equities research analysts forecast that Cass Information Systems will post 2.62 EPS for the current year.

Cass Information Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.31 per share. The ex-dividend date is Friday, September 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.0%. Cass Information Systems’s dividend payout ratio is currently 66.67%.

Institutional Investors Weigh In On Cass Information Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Cass Information Systems by 3.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,710 shares of the business services provider’s stock valued at $315,000 after buying an additional 227 shares in the last quarter. Copeland Capital Management LLC grew its holdings in Cass Information Systems by 16.4% in the 2nd quarter. Copeland Capital Management LLC now owns 1,667 shares of the business services provider’s stock valued at $72,000 after buying an additional 235 shares in the last quarter. First Trust Advisors LP grew its holdings in Cass Information Systems by 4.8% in the 4th quarter. First Trust Advisors LP now owns 8,637 shares of the business services provider’s stock valued at $353,000 after buying an additional 393 shares in the last quarter. AlphaQuest LLC grew its holdings in Cass Information Systems by 23.9% in the 1st quarter. AlphaQuest LLC now owns 2,606 shares of the business services provider’s stock valued at $113,000 after buying an additional 502 shares in the last quarter. Finally, IFG Advisory LLC grew its holdings in Cass Information Systems by 1.3% in the 2nd quarter. IFG Advisory LLC now owns 49,912 shares of the business services provider’s stock valued at $2,169,000 after buying an additional 657 shares in the last quarter. 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.