Cass Information Systems (NASDAQ:CASS) Cut to “Hold” at Zacks Research

Cass Information Systems (NASDAQ:CASS) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Cass Information Systems in a research note on Tuesday, August 4th. Raymond James Financial raised their price target on Cass Information Systems from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Finally, Piper Sandler reiterated a “neutral” rating and set a $61.00 price objective (up from $52.00) on shares of Cass Information Systems in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.50.

Cass Information Systems Stock Down 0.2%

Shares of NASDAQ CASS opened at $58.41 on Thursday. Cass Information Systems has a twelve month low of $36.07 and a twelve month high of $59.14. The stock has a market cap of $748.23 million, a price-to-earnings ratio of 21.01 and a beta of 0.41. The company’s fifty day moving average is $52.94 and its 200-day moving average is $48.18.

Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings data on Thursday, July 23rd. The business services provider reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). The firm had revenue of $27.04 million during the quarter, compared to the consensus estimate of $51.02 million. Cass Information Systems had a net margin of 18.45% and a return on equity of 14.89%. On average, research analysts anticipate that Cass Information Systems will post 2.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Cass Information Systems

Institutional investors have recently added to or reduced their stakes in the stock. Triumph Capital Management acquired a new position in Cass Information Systems in the 3rd quarter worth $25,000. Kingdom Financial Group LLC. acquired a new stake in shares of Cass Information Systems in the 4th quarter valued at about $26,000. New York State Teachers Retirement System bought a new stake in shares of Cass Information Systems in the fourth quarter valued at about $46,000. BNP Paribas Financial Markets lifted its holdings in shares of Cass Information Systems by 50.7% in the second 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 in the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of Cass Information Systems during the second quarter worth about $59,000. 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.