Cass Information Systems (NASDAQ:CASS) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 341,700 shares, an increase of 19.9% from the December 15th total of 285,000 shares. Based on an average daily trading volume, of 47,600 shares, the short-interest ratio is currently 7.2 days. Currently, 2.8% of the company’s shares are sold short.
Separately, BidaskClub cut Cass Information Systems from a “hold” rating to a “sell” rating in a research note on Tuesday.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CASS. Marshall Wace LLP acquired a new stake in Cass Information Systems during the first quarter worth approximately $309,000. JPMorgan Chase & Co. grew its stake in Cass Information Systems by 61.7% during the second quarter. JPMorgan Chase & Co. now owns 14,722 shares of the business services provider’s stock worth $706,000 after purchasing an additional 5,615 shares during the period. Bank of Montreal Can grew its stake in Cass Information Systems by 41.1% during the second quarter. Bank of Montreal Can now owns 5,819 shares of the business services provider’s stock worth $283,000 after purchasing an additional 1,694 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Cass Information Systems by 0.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 73,489 shares of the business services provider’s stock worth $3,563,000 after purchasing an additional 479 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Cass Information Systems by 32.6% during the second quarter. Renaissance Technologies LLC now owns 115,849 shares of the business services provider’s stock worth $5,616,000 after purchasing an additional 28,500 shares during the period. 55.29% of the stock is owned by institutional investors and hedge funds.
Shares of CASS stock opened at $56.03 on Wednesday. The stock has a market cap of $812.32 million, a price-to-earnings ratio of 26.63 and a beta of 0.59. The stock has a 50-day moving average of $57.22 and a 200-day moving average of $53.61. Cass Information Systems has a 1-year low of $44.35 and a 1-year high of $60.97.
Cass Information Systems (NASDAQ:CASS) last issued its quarterly earnings results on Thursday, October 24th. The business services provider reported $0.56 earnings per share for the quarter. The company had revenue of $40.54 million during the quarter. Cass Information Systems had a return on equity of 13.07% and a net margin of 19.85%.
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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