StockNews.com Downgrades Cass Information Systems (NASDAQ:CASS) to Hold

Cass Information Systems (NASDAQ:CASS) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Several other research analysts also recently commented on CASS. TheStreet downgraded Cass Information Systems from a “b-” rating to a “c” rating in a report on Thursday, January 25th. Piper Sandler upgraded Cass Information Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $45.00 to $51.00 in a report on Monday, February 12th.

Cass Information Systems Stock Down 1.3 %

NASDAQ:CASS traded down $0.60 during trading hours on Wednesday, hitting $44.73. 41,738 shares of the company’s stock traded hands, compared to its average volume of 41,672. The firm has a market cap of $609.67 million, a P/E ratio of 20.52 and a beta of 0.73. Cass Information Systems has a 52 week low of $35.05 and a 52 week high of $50.25. The business’s fifty day simple moving average is $46.83 and its two-hundred day simple moving average is $43.25.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings data on Thursday, January 25th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.13. The company had revenue of $50.74 million during the quarter, compared to analyst estimates of $48.33 million. Cass Information Systems had a return on equity of 13.84% and a net margin of 15.22%. On average, analysts expect that Cass Information Systems will post 2.74 EPS for the current year.

Hedge Funds Weigh In On Cass Information Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CASS. AQR Capital Management LLC raised its stake in Cass Information Systems by 0.3% during the 4th quarter. AQR Capital Management LLC now owns 96,902 shares of the business services provider’s stock valued at $4,440,000 after buying an additional 269 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Cass Information Systems by 4.4% in the 2nd quarter. MetLife Investment Management LLC now owns 7,198 shares of the business services provider’s stock worth $279,000 after purchasing an additional 304 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of Cass Information Systems by 10.2% in the 3rd quarter. Lazard Asset Management LLC now owns 3,346 shares of the business services provider’s stock worth $124,000 after purchasing an additional 310 shares in the last quarter. Sei Investments Co. increased its stake in shares of Cass Information Systems by 5.3% in the 1st quarter. Sei Investments Co. now owns 7,169 shares of the business services provider’s stock worth $310,000 after purchasing an additional 362 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Cass Information Systems by 2.2% in the 4th quarter. JPMorgan Chase & Co. now owns 17,700 shares of the business services provider’s stock worth $810,000 after purchasing an additional 373 shares in the last quarter. 59.08% of the stock is owned by institutional investors.

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.