Cass Information Systems (NASDAQ:CASS) Releases Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Cass Information Systems (NASDAQ:CASS) issued its earnings results on Thursday. The business services provider reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09), FiscalAI reports. Cass Information Systems had a return on equity of 13.26% and a net margin of 18.08%.

Cass Information Systems Stock Performance

CASS traded down $0.43 during trading on Thursday, hitting $52.09. The stock had a trading volume of 2,958 shares, compared to its average volume of 79,166. The firm has a market capitalization of $670.44 million, a P/E ratio of 19.64 and a beta of 0.42. Cass Information Systems has a twelve month low of $36.07 and a twelve month high of $54.44. The company’s 50-day moving average price is $49.40 and its 200 day moving average price is $46.47.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Raymond James Financial upped their price objective 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. Weiss Ratings upgraded shares of Cass Information Systems from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, May 7th. Zacks Research raised shares of Cass Information Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Finally, Piper Sandler set a $52.00 price objective on shares of Cass Information Systems and gave the stock a “neutral” rating in a research report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $54.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. lifted its position in Cass Information Systems by 3.1% in the fourth quarter. Invesco Ltd. now owns 18,761 shares of the business services provider’s stock valued at $779,000 after purchasing an additional 563 shares during the period. XTX Topco Ltd raised its stake in shares of Cass Information Systems by 42.3% during the 4th quarter. XTX Topco Ltd now owns 9,916 shares of the business services provider’s stock worth $412,000 after buying an additional 2,950 shares in the last quarter. Man Group plc acquired a new stake in shares of Cass Information Systems in the 4th quarter valued at approximately $241,000. Lazard Asset Management LLC boosted its stake in shares of Cass Information Systems by 3.9% in the fourth quarter. Lazard Asset Management LLC now owns 27,711 shares of the business services provider’s stock valued at $1,151,000 after buying an additional 1,028 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of Cass Information Systems in the fourth quarter valued at approximately $231,000. 59.08% of the stock is currently owned by institutional investors and hedge funds.

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.