Cass Information Systems (NASDAQ:CASS) Issues Quarterly Earnings Results

Cass Information Systems (NASDAQ:CASS) announced its quarterly earnings data on Thursday. The business services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04, Zacks reports. Cass Information Systems had a return on equity of 11.61% and a net margin of 16.48%.

Cass Information Systems Price Performance

Shares of NASDAQ CASS opened at $42.92 on Thursday. The stock has a market capitalization of $561.39 million, a price-to-earnings ratio of 18.42 and a beta of 0.44. The firm’s 50 day simple moving average is $42.15 and its 200-day simple moving average is $41.60. Cass Information Systems has a 12 month low of $36.07 and a 12 month high of $47.00.

Analyst Upgrades and Downgrades

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

Institutional Trading of Cass Information Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning increased its stake in shares of Cass Information Systems by 102.9% in the 2nd quarter. Creative Planning now owns 10,311 shares of the business services provider’s stock valued at $448,000 after purchasing an additional 5,228 shares in the last quarter. Natixis Advisors LLC boosted its position in Cass Information Systems by 3.4% during the third quarter. Natixis Advisors LLC now owns 11,048 shares of the business services provider’s stock worth $435,000 after purchasing an additional 367 shares in the last quarter. Gamco Investors INC. ET AL acquired a new stake in Cass Information Systems in the second quarter valued at approximately $419,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Cass Information Systems by 4.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,022 shares of the business services provider’s stock valued at $347,000 after buying an additional 312 shares in the last quarter. Finally, Glenmede Investment Management LP increased its position in shares of Cass Information Systems by 5.1% in the third quarter. Glenmede Investment Management LP now owns 8,765 shares of the business services provider’s stock valued at $345,000 after buying an additional 422 shares in the last quarter. Institutional investors and hedge funds 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. 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.