Cass Information Systems (NASDAQ:CASS – Get Free Report) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.
A number of other brokerages have also recently issued reports on CASS. Raymond James Financial raised their price objective on shares of Cass Information Systems from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Weiss Ratings raised Cass Information Systems from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, May 7th. Finally, Piper Sandler set a $52.00 price target on Cass Information Systems and gave the stock a “neutral” rating in a research report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Cass Information Systems presently has a consensus rating of “Buy” and a consensus target price of $54.00.
Read Our Latest Report on CASS
Cass Information Systems Trading Up 4.0%
Cass Information Systems (NASDAQ:CASS – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The business services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.63 by $0.03. Cass Information Systems had a net margin of 18.08% and a return on equity of 13.26%. The company had revenue of $27.95 million during the quarter, compared to analysts’ expectations of $49.40 million. Research analysts forecast that Cass Information Systems will post 3 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Cass Information Systems by 2.0% in the third quarter. Vanguard Group Inc. now owns 815,234 shares of the business services provider’s stock worth $32,063,000 after purchasing an additional 15,882 shares during the period. Brown Advisory Inc. grew its holdings in shares of Cass Information Systems by 5,552.6% in the 4th quarter. Brown Advisory Inc. now owns 539,932 shares of the business services provider’s stock valued at $22,418,000 after buying an additional 530,380 shares during the period. Heartland Advisors Inc. grew its holdings in shares of Cass Information Systems by 1.2% in the 1st quarter. Heartland Advisors Inc. now owns 470,524 shares of the business services provider’s stock valued at $20,712,000 after buying an additional 5,485 shares during the period. Speece Thorson Capital Group Inc. increased its position in shares of Cass Information Systems by 3.9% in the 4th quarter. Speece Thorson Capital Group Inc. now owns 364,597 shares of the business services provider’s stock valued at $15,138,000 after buying an additional 13,524 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Cass Information Systems by 5.3% in the 4th quarter. ProShare Advisors LLC now owns 318,107 shares of the business services provider’s stock valued at $13,208,000 after buying an additional 16,109 shares in the last quarter. Institutional investors and hedge funds own 59.08% of the company’s stock.
About Cass Information Systems
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.
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