Cass Information Systems (NASDAQ:CASS) Upgraded at Piper Sandler

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

Separately, Weiss Ratings raised Cass Information Systems from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.00.

Cass Information Systems Trading Up 0.0%

CASS stock opened at $49.45 on Friday. The stock has a market capitalization of $636.42 million, a price-to-earnings ratio of 18.80 and a beta of 0.43. The firm’s 50-day moving average price is $46.81 and its two-hundred day moving average price is $44.73. Cass Information Systems has a 12-month low of $36.07 and a 12-month high of $52.45.

Cass Information Systems (NASDAQ:CASS) last posted its earnings results on Thursday, April 23rd. The business services provider reported $0.66 earnings per share (EPS) for the quarter, topping 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 company had revenue of $27.95 million for the quarter, compared to analysts’ expectations of $49.40 million. Equities analysts predict that Cass Information Systems will post 3 EPS for the current year.

Institutional Investors Weigh In On Cass Information Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kingdom Financial Group LLC. bought a new position in Cass Information Systems in the fourth quarter worth $26,000. Triumph Capital Management bought a new stake in shares of Cass Information Systems during the 3rd quarter valued at $25,000. New York State Teachers Retirement System purchased a new stake in shares of Cass Information Systems in the 4th quarter worth about $46,000. BNP Paribas Financial Markets increased its stake in shares of Cass Information Systems by 50.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the business services provider’s stock worth $53,000 after acquiring an additional 413 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Cass Information Systems by 1,206.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,594 shares of the business services provider’s stock worth $63,000 after acquiring an additional 1,472 shares in the last quarter. 59.08% of the stock is owned by hedge funds and other 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.