Cass Information Systems (NASDAQ:CASS) Stock Rating Upgraded by Piper Sandler

Cass Information Systems (NASDAQ:CASS) was upgraded by analysts at Piper Sandler to a “hold” rating in a research note issued to investors on Friday,Zacks.com reports.

Separately, Weiss Ratings upgraded Cass Information Systems from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Cass Information Systems presently has a consensus rating of “Moderate Buy” and an average price target of $51.00.

Cass Information Systems Stock Up 0.0%

Shares of CASS opened at $49.45 on Friday. The stock has a market cap of $636.42 million, a P/E ratio of 18.80 and a beta of 0.43. The business’s 50 day moving average price is $46.81 and its 200-day moving average price is $44.73. Cass Information Systems has a 52 week low of $36.07 and a 52 week high of $52.45.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings data on Thursday, April 23rd. The business services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $49.40 million. On average, equities analysts anticipate that Cass Information Systems will post 3 EPS for the current year.

Institutional Trading of Cass Information Systems

A number of large investors have recently made changes to their positions in CASS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Cass Information Systems by 4.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,022 shares of the business services provider’s stock valued at $347,000 after purchasing an additional 312 shares during the period. Jane Street Group LLC purchased a new position in shares of Cass Information Systems in the 1st quarter worth $848,000. Creative Planning boosted its stake in shares of Cass Information Systems by 102.9% in the 2nd quarter. Creative Planning now owns 10,311 shares of the business services provider’s stock worth $448,000 after buying an additional 5,228 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Cass Information Systems by 13.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 101,860 shares of the business services provider’s stock worth $4,426,000 after acquiring an additional 12,196 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Cass Information Systems during the second quarter valued at $696,000. 59.08% of the stock is currently owned by institutional investors.

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. 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.