Short Interest in Cass Information Systems, Inc. (NASDAQ:CASS) Increases By 7.2%

Cass Information Systems, Inc. (NASDAQ:CASS) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 201,900 shares, an increase of 7.2% from the March 31st total of 188,300 shares. Based on an average trading volume of 42,300 shares, the days-to-cover ratio is presently 4.8 days. Currently, 1.7% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several research analysts have commented on CASS shares. StockNews.com cut shares of Cass Information Systems from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. TheStreet lowered Cass Information Systems from a “b-” rating to a “c” rating in a report on Thursday, January 25th. Finally, Piper Sandler upgraded Cass Information Systems from a “neutral” rating to an “overweight” rating and raised their price target for the company from $45.00 to $51.00 in a research note on Monday, February 12th.

Cass Information Systems Stock Up 0.7 %

Shares of Cass Information Systems stock opened at $43.49 on Thursday. Cass Information Systems has a 52 week low of $35.20 and a 52 week high of $50.25. The firm’s 50 day moving average is $46.15 and its two-hundred day moving average is $43.68. The firm has a market capitalization of $592.77 million, a P/E ratio of 19.86 and a beta of 0.75.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CASS. GSA Capital Partners LLP acquired a new position in Cass Information Systems during the third quarter worth approximately $1,578,000. Trust Point Inc. acquired a new position in shares of Cass Information Systems in the 4th quarter valued at $460,000. PNC Financial Services Group Inc. raised its position in Cass Information Systems by 7.9% in the 3rd 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 during the last quarter. Keeley Teton Advisors LLC raised its position in Cass Information Systems by 18.7% in the 3rd quarter. Keeley Teton Advisors LLC now owns 95,770 shares of the business services provider’s stock valued at $3,567,000 after purchasing an additional 15,064 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in Cass Information Systems during the 4th quarter worth $390,000. 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.