Cass Information Systems (NASDAQ:CASS) Issues Earnings Results

Cass Information Systems (NASDAQ:CASS) released its earnings results on Thursday. The business services provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.04, FiscalAI reports. The company had revenue of $26.16 million for the quarter, compared to analysts’ expectations of $49.40 million. Cass Information Systems had a net margin of 18.41% and a return on equity of 13.28%.

Cass Information Systems Trading Down 3.4%

CASS traded down $1.64 during trading on Thursday, hitting $46.83. 39,381 shares of the company traded hands, compared to its average volume of 76,092. The company has a market cap of $604.46 million, a PE ratio of 17.89 and a beta of 0.42. The stock’s 50-day simple moving average is $45.06 and its two-hundred day simple moving average is $42.86. Cass Information Systems has a 1 year low of $36.07 and a 1 year high of $48.76.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Weiss Ratings upgraded shares of Cass Information Systems from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 1st. Raymond James Financial restated an “outperform” rating and issued a $50.00 price objective on shares of Cass Information Systems in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Cass Information Systems has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CASS. Triumph Capital Management bought a new stake in shares of Cass Information Systems in the third quarter worth about $25,000. BNP Paribas Financial Markets increased its stake in 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 worth $53,000 after acquiring an additional 413 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Cass Information Systems by 1,206.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,594 shares of the business services provider’s stock worth $63,000 after acquiring an additional 1,472 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Cass Information Systems by 87.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,441 shares of the business services provider’s stock worth $143,000 after acquiring an additional 1,601 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Cass Information Systems by 1,671.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,588 shares of the business services provider’s stock valued at $199,000 after acquiring an additional 4,329 shares during the last quarter. Hedge funds and other 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. 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.