Cass Information Systems (NASDAQ:CASS) Shares Pass Below 200-Day Moving Average – Here’s Why

Cass Information Systems, Inc (NASDAQ:CASS)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $41.78 and traded as low as $41.74. Cass Information Systems shares last traded at $42.30, with a volume of 101,584 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CASS. Weiss Ratings restated a “hold (c)” rating on shares of Cass Information Systems in a research note on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating and issued a $45.00 price target (down from $47.00) on shares of Cass Information Systems in a report on Friday, October 24th. Finally, Zacks Research upgraded Cass Information Systems from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.50.

Cass Information Systems Price Performance

The business’s 50-day moving average is $41.40 and its 200 day moving average is $41.77. The firm has a market capitalization of $553.28 million, a P/E ratio of 18.15 and a beta of 0.42.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings data on Thursday, October 23rd. The business services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. Cass Information Systems had a net margin of 16.48% and a return on equity of 11.61%. The firm had revenue of $54.01 million during the quarter, compared to the consensus estimate of $50.20 million. Analysts anticipate that Cass Information Systems, Inc will post 2.62 EPS for the current fiscal year.

Cass Information Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, December 5th were given a dividend of $0.32 per share. This is an increase from Cass Information Systems’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, December 5th. Cass Information Systems’s dividend payout ratio (DPR) is currently 54.94%.

Institutional Trading of Cass Information Systems

Large investors have recently modified their holdings of the stock. Triumph Capital Management acquired a new position in Cass Information Systems in the third quarter valued at about $25,000. Speece Thorson Capital Group Inc. raised its position in shares of Cass Information Systems by 6.4% in the 3rd quarter. Speece Thorson Capital Group Inc. now owns 351,073 shares of the business services provider’s stock valued at $13,808,000 after buying an additional 21,037 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Cass Information Systems by 82.9% during the 3rd quarter. Millennium Management LLC now owns 24,477 shares of the business services provider’s stock worth $963,000 after acquiring an additional 11,094 shares during the period. Emmett Investment Management LP boosted its position in shares of Cass Information Systems by 14.9% during the 3rd quarter. Emmett Investment Management LP now owns 134,995 shares of the business services provider’s stock worth $5,286,000 after acquiring an additional 17,520 shares in the last quarter. Finally, Citadel Advisors LLC boosted its position in shares of Cass Information Systems by 23.6% during the 3rd quarter. Citadel Advisors LLC now owns 14,100 shares of the business services provider’s stock worth $555,000 after acquiring an additional 2,688 shares in the last quarter. 59.08% of the stock is owned by institutional investors and hedge funds.

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.