Cass Information Systems, Inc. (NASDAQ:CASS) Sees Significant Growth in Short Interest

Cass Information Systems, Inc. (NASDAQ:CASS) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 201,900 shares, an increase of 7.2% from the March 31st total of 188,300 shares. Based on an average daily volume of 42,300 shares, the short-interest ratio is presently 4.8 days. Approximately 1.7% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CASS. StockNews.com downgraded Cass Information Systems from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th. TheStreet cut Cass Information Systems from a “b-” rating to a “c” rating in a research note on Thursday, January 25th. Finally, Piper Sandler raised Cass Information Systems from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $45.00 to $51.00 in a research report on Monday, February 12th.

Cass Information Systems Price Performance

NASDAQ:CASS opened at $43.49 on Thursday. Cass Information Systems has a one year low of $35.20 and a one year high of $50.25. The company has a market cap of $592.77 million, a PE ratio of 19.86 and a beta of 0.75. The firm has a 50-day moving average of $46.15 and a 200-day moving average of $43.68.

Institutional Trading of Cass Information Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new position in shares of Cass Information Systems in the fourth quarter valued at approximately $114,000. SG Americas Securities LLC purchased a new stake in Cass Information Systems in the 4th quarter valued at $173,000. Dumont & Blake Investment Advisors LLC bought a new position in Cass Information Systems during the 1st quarter valued at $207,000. Compass Ion Advisors LLC purchased a new position in Cass Information Systems during the 1st quarter worth $223,000. Finally, Janney Montgomery Scott LLC grew its stake in shares of Cass Information Systems by 47.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,546 shares of the business services provider’s stock worth $315,000 after acquiring an additional 2,097 shares in the last quarter. 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.