Cass Information Systems (NASDAQ:CASS) Announces Earnings Results

Cass Information Systems (NASDAQ:CASS) issued its quarterly earnings data on Thursday. The business services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.01, FiscalAI reports. Cass Information Systems had a net margin of 18.45% and a return on equity of 14.89%. The company had revenue of $27.53 million during the quarter, compared to the consensus estimate of $52.29 million.

Cass Information Systems Price Performance

NASDAQ CASS opened at $55.32 on Thursday. Cass Information Systems has a 12 month low of $38.20 and a 12 month high of $59.63. The company has a market capitalization of $708.60 million, a price-to-earnings ratio of 19.90 and a beta of 0.39. The company’s fifty day moving average price is $55.29 and its two-hundred day moving average price is $51.74.

Analysts Set New Price Targets

CASS has been the topic of a number of recent research reports. Weiss Ratings raised shares of Cass Information Systems from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Raymond James Financial raised their price target on shares of Cass Information Systems from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Piper Sandler reaffirmed a “neutral” rating and set a $61.00 price target (up from $52.00) on shares of Cass Information Systems in a research note on Thursday, August 6th. Finally, Zacks Research downgraded shares of Cass Information Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $58.50.

About Cass Information Systems

Cass Information Systems, Inc (NASDAQ:CASS) provides payment and information-processing services to businesses. Its offerings are designed to help companies manage, audit and analyze expenditures associated with transportation, utilities, telecommunications and other recurring business expenses.

The company’s transportation services include freight invoice payment, auditing, rating, electronic data interchange and related information-management tools for shippers and logistics organizations.