Cass Information Systems (NASDAQ:CASS) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Cass Information Systems (NASDAQ:CASS) from a buy rating to a hold rating in a research note issued to investors on Saturday.

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

Cass Information Systems Stock Performance

NASDAQ:CASS opened at $43.19 on Friday. Cass Information Systems has a 52 week low of $35.20 and a 52 week high of $50.25. The firm’s 50-day simple moving average is $46.21 and its 200 day simple moving average is $43.68. The firm has a market cap of $588.68 million, a price-to-earnings ratio of 19.72 and a beta of 0.73.

Institutional Trading of Cass Information Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in Cass Information Systems by 7.9% during the third quarter. PNC Financial Services Group Inc. now owns 6,725 shares of the business services provider’s stock valued at $251,000 after purchasing an additional 490 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Cass Information Systems by 3.9% in the 1st quarter. Commonwealth Equity Services LLC now owns 31,339 shares of the business services provider’s stock valued at $1,510,000 after purchasing an additional 1,166 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Cass Information Systems by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 120,551 shares of the business services provider’s stock valued at $4,491,000 after purchasing an additional 1,202 shares during the last quarter. First National Bank of Omaha raised its holdings in shares of Cass Information Systems by 12.8% during the 3rd quarter. First National Bank of Omaha now owns 12,485 shares of the business services provider’s stock worth $465,000 after buying an additional 1,414 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in shares of Cass Information Systems by 2.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 66,928 shares of the business services provider’s stock worth $2,493,000 after buying an additional 1,760 shares during the last quarter. Institutional investors own 59.08% of the company’s stock.

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.