Cass Information Systems (NASDAQ:CASS) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Cass Information Systems (NASDAQ:CASS) from a buy rating to a hold rating in a report issued on Wednesday morning.

Other equities analysts have also issued research reports about the stock. TheStreet lowered shares of Cass Information Systems from a b- rating to a c rating in a research report on Thursday, January 25th. Piper Sandler raised shares of Cass Information Systems from a neutral rating to an overweight rating and boosted their target price for the stock from $45.00 to $51.00 in a research report on Monday, February 12th.

Cass Information Systems Stock Down 4.6 %

NASDAQ:CASS opened at $41.65 on Wednesday. Cass Information Systems has a 12 month low of $35.05 and a 12 month high of $50.25. The firm has a market cap of $567.69 million, a price-to-earnings ratio of 19.02 and a beta of 0.73. The company’s 50 day moving average is $46.80 and its 200-day moving average is $43.35.

Cass Information Systems (NASDAQ:CASS) last announced its earnings results on Thursday, January 25th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.13. Cass Information Systems had a net margin of 15.21% and a return on equity of 13.86%. The business had revenue of $50.74 million for the quarter, compared to analyst estimates of $48.33 million. Research analysts predict that Cass Information Systems will post 2.74 EPS for the current fiscal year.

Cass Information Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.88%. The ex-dividend date was Monday, March 4th. Cass Information Systems’s dividend payout ratio (DPR) is presently 54.79%.

Institutional Investors Weigh In On Cass Information Systems

Several institutional investors and hedge funds have recently bought and sold shares of the business. Moneta Group Investment Advisors LLC increased its holdings in Cass Information Systems by 108,000.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 45,277,674 shares of the business services provider’s stock valued at $2,074,623,000 after buying an additional 45,235,789 shares during the period. BlackRock Inc. boosted its stake in shares of Cass Information Systems by 1.2% in the 1st quarter. BlackRock Inc. now owns 1,001,903 shares of the business services provider’s stock valued at $36,979,000 after purchasing an additional 11,414 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Cass Information Systems by 12.7% in the 3rd quarter. Vanguard Group Inc. now owns 863,432 shares of the business services provider’s stock valued at $29,952,000 after purchasing an additional 97,167 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Cass Information Systems by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 556,317 shares of the business services provider’s stock valued at $24,094,000 after purchasing an additional 2,470 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Cass Information Systems by 0.6% in the 3rd quarter. State Street Corp now owns 403,642 shares of the business services provider’s stock valued at $14,002,000 after purchasing an additional 2,304 shares in the last quarter. Institutional investors own 59.08% of the company’s stock.

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.