Cass Information Systems (NASDAQ:CASS) Issues Earnings Results

Cass Information Systems (NASDAQ:CASS) issued its quarterly earnings results on Thursday. The business services provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01, FiscalAI reports. The firm had revenue of $27.53 million for the quarter, compared to analyst estimates of $52.29 million. Cass Information Systems had a return on equity of 14.89% and a net margin of 18.45%.

Cass Information Systems Stock Up 0.8%

CASS opened at $55.32 on Thursday. Cass Information Systems has a 52-week low of $38.20 and a 52-week high of $59.63. The company has a 50 day moving average of $55.29 and a two-hundred day moving average of $51.74. The company has a market cap of $708.60 million, a P/E ratio of 19.90 and a beta of 0.39.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Cass Information Systems from a “buy (b)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Raymond James Financial raised their target price on shares of Cass Information Systems from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Piper Sandler restated a “neutral” rating and issued a $61.00 target price (up from $52.00) on shares of Cass Information Systems in a report on Thursday, August 6th. Finally, Zacks Research downgraded shares of Cass Information Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.50.

Cass Information Systems Company Profile

Cass Information Systems, Inc (NASDAQ:CASS) provides payment and information-processing services to businesses. Its offerings are designed to help companies manage, audit and analyze expenditures associated with transportation, utilities, telecommunications and other recurring business expenses.

The company’s transportation services include freight invoice payment, auditing, rating, electronic data interchange and related information-management tools for shippers and logistics organizations.