Cass Information Systems (NASDAQ:CASS) Cut to Hold at StockNews.com

StockNews.com cut shares of Cass Information Systems (NASDAQ:CASS) from a buy rating to a hold rating in a research report released on Saturday.

Other research analysts have also issued reports about the stock. TheStreet lowered shares of Cass Information Systems from a b- rating to a c rating in a research report on Thursday, January 25th. Piper Sandler raised Cass Information Systems from a neutral rating to an overweight rating and lifted their price target for the stock from $45.00 to $51.00 in a research note on Monday, February 12th.

Cass Information Systems Price Performance

NASDAQ CASS opened at $43.50 on Friday. The company’s 50 day simple moving average is $46.29 and its two-hundred day simple moving average is $43.63. Cass Information Systems has a 1 year low of $35.20 and a 1 year high of $50.25. The stock has a market capitalization of $592.91 million, a PE ratio of 19.86 and a beta of 0.73.

Institutional Investors Weigh In On Cass Information Systems

A number of institutional investors have recently made changes to their positions in CASS. Speece Thorson Capital Group Inc. lifted its stake in Cass Information Systems by 194.2% in the first quarter. Speece Thorson Capital Group Inc. now owns 158,801 shares of the business services provider’s stock worth $7,649,000 after purchasing an additional 104,817 shares during the last quarter. Ballast Asset Management LP purchased a new position in shares of Cass Information Systems in the third quarter worth about $2,601,000. GSA Capital Partners LLP bought a new stake in shares of Cass Information Systems in the 3rd quarter valued at about $1,578,000. Commerce Bank boosted its holdings in Cass Information Systems by 60.5% during the 4th quarter. Commerce Bank now owns 77,634 shares of the business services provider’s stock valued at $3,497,000 after acquiring an additional 29,252 shares during the period. Finally, Jag Capital Management LLC bought a new position in Cass Information Systems during the 4th quarter worth approximately $1,149,000. Hedge funds and other institutional investors own 59.08% of the company’s stock.

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.