Cass Information Systems (NASDAQ:CASS) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Cass Information Systems (NASDAQ:CASS) released its quarterly earnings data on Thursday. The business services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.62 by $0.04, FiscalAI reports. Cass Information Systems had a return on equity of 13.28% and a net margin of 18.41%.The company had revenue of $26.16 million for the quarter, compared to analysts’ expectations of $49.40 million.

Cass Information Systems Price Performance

Shares of CASS traded down $1.64 on Thursday, reaching $46.83. The company’s stock had a trading volume of 39,381 shares, compared to its average volume of 76,092. The stock’s 50 day simple moving average is $45.06 and its two-hundred day simple moving average is $42.86. The stock has a market capitalization of $604.46 million, a P/E ratio of 17.89 and a beta of 0.42. Cass Information Systems has a 12-month low of $36.07 and a 12-month high of $48.76.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CASS. Triumph Capital Management purchased a new stake in shares of Cass Information Systems in the 3rd quarter worth $25,000. BNP Paribas Financial Markets increased its position in Cass Information Systems by 50.7% in the second quarter. BNP Paribas Financial Markets now owns 1,227 shares of the business services provider’s stock worth $53,000 after buying an additional 413 shares in the last quarter. Russell Investments Group Ltd. increased its position in Cass Information Systems by 1,206.6% in the third quarter. Russell Investments Group Ltd. now owns 1,594 shares of the business services provider’s stock worth $63,000 after buying an additional 1,472 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Cass Information Systems by 87.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,441 shares of the business services provider’s stock worth $143,000 after buying an additional 1,601 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of Cass Information Systems by 1,671.4% in the second quarter. Tower Research Capital LLC TRC now owns 4,588 shares of the business services provider’s stock worth $199,000 after buying an additional 4,329 shares during the period. Hedge funds and other institutional investors own 59.08% of the company’s stock.

Analyst Ratings Changes

CASS has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Cass Information Systems from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 1st. Raymond James Financial reiterated an “outperform” rating and set a $50.00 target price on shares of Cass Information Systems in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Cass Information Systems has a consensus rating of “Moderate Buy” and an average target price of $50.00.

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.