Cass Information Systems (CASS) Downgraded to “Hold” at BidaskClub

BidaskClub cut shares of Cass Information Systems (NASDAQ:CASS) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

Separately, ValuEngine upgraded Cass Information Systems from a hold rating to a buy rating in a report on Thursday, July 5th.

CASS stock opened at $67.23 on Wednesday. The firm has a market cap of $822.01 million, a PE ratio of 28.04 and a beta of 1.03. Cass Information Systems has a twelve month low of $54.37 and a twelve month high of $74.49.

Cass Information Systems (NASDAQ:CASS) last released its earnings results on Thursday, July 26th. The business services provider reported $0.60 earnings per share for the quarter. The company had revenue of $36.36 million during the quarter. Cass Information Systems had a return on equity of 13.18% and a net margin of 19.62%.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Tuesday, September 4th were issued a $0.26 dividend. The ex-dividend date of this dividend was Friday, August 31st. This represents a $1.04 dividend on an annualized basis and a yield of 1.55%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blair William & Co. IL increased its holdings in Cass Information Systems by 18.2% in the first quarter. Blair William & Co. IL now owns 5,809 shares of the business services provider’s stock valued at $346,000 after purchasing an additional 895 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Cass Information Systems by 15.9% in the second quarter. Victory Capital Management Inc. now owns 7,186 shares of the business services provider’s stock valued at $495,000 after purchasing an additional 984 shares during the last quarter. Swiss National Bank increased its holdings in Cass Information Systems by 4.9% in the first quarter. Swiss National Bank now owns 21,460 shares of the business services provider’s stock valued at $1,277,000 after purchasing an additional 1,000 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Cass Information Systems by 8.3% in the first quarter. Russell Investments Group Ltd. now owns 17,435 shares of the business services provider’s stock valued at $1,038,000 after purchasing an additional 1,339 shares during the last quarter. Finally, MetLife Investment Advisors LLC increased its holdings in Cass Information Systems by 31.9% in the second quarter. MetLife Investment Advisors LLC now owns 6,460 shares of the business services provider’s stock valued at $445,000 after purchasing an additional 1,562 shares during the last quarter. Institutional investors and hedge funds own 52.62% 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. It operates through two segments, Information Services and Banking Services. The company's services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information.

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