Zacks Research Upgrades Cass Information Systems (NASDAQ:CASS) to “Strong-Buy”

Cass Information Systems (NASDAQ:CASS) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Piper Sandler set a $52.00 price target on shares of Cass Information Systems and gave the company a “neutral” rating in a research note on Friday, June 12th. Raymond James Financial increased 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. Finally, Weiss Ratings upgraded shares of Cass Information Systems from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $54.00.

Cass Information Systems Price Performance

NASDAQ:CASS opened at $54.21 on Wednesday. Cass Information Systems has a fifty-two week low of $36.07 and a fifty-two week high of $54.44. The stock has a market capitalization of $697.68 million, a PE ratio of 20.61 and a beta of 0.42. The business’s 50-day simple moving average is $48.87 and its 200-day simple moving average is $46.15.

Cass Information Systems (NASDAQ:CASS) last issued its quarterly earnings data on Thursday, April 23rd. The business services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. Cass Information Systems had a return on equity of 13.26% and a net margin of 18.08%.The business had revenue of $27.95 million during the quarter, compared to analyst estimates of $49.40 million. On average, research analysts expect that Cass Information Systems will post 3 earnings per share for the current year.

Hedge Funds Weigh In On Cass Information Systems

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantinno Capital Management LP increased its position in Cass Information Systems by 40.4% during the first quarter. Quantinno Capital Management LP now owns 19,376 shares of the business services provider’s stock worth $853,000 after buying an additional 5,580 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Cass Information Systems by 10.0% during the 1st quarter. Lazard Asset Management LLC now owns 30,485 shares of the business services provider’s stock worth $1,342,000 after acquiring an additional 2,774 shares during the period. Punch & Associates Investment Management Inc. acquired a new position in shares of Cass Information Systems during the 1st quarter worth approximately $4,977,000. Inceptionr LLC increased its holdings in shares of Cass Information Systems by 108.3% during the 1st quarter. Inceptionr LLC now owns 10,984 shares of the business services provider’s stock worth $484,000 after acquiring an additional 5,711 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Cass Information Systems by 98.9% during the 1st quarter. Sei Investments Co. now owns 71,068 shares of the business services provider’s stock worth $3,128,000 after acquiring an additional 35,346 shares during 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. 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.