Cass Information Systems (NASDAQ:CASS) Upgraded to Strong-Buy at BidaskClub

Cass Information Systems (NASDAQ:CASS) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday, BidAskClub reports.

Shares of CASS traded down $0.53 during mid-day trading on Wednesday, hitting $59.71. The stock had a trading volume of 33,800 shares, compared to its average volume of 39,236. The firm has a market cap of $861.39 million, a P/E ratio of 28.31 and a beta of 0.56. The business has a fifty day moving average price of $54.54 and a 200-day moving average price of $50.13. Cass Information Systems has a 52 week low of $44.35 and a 52 week high of $60.97.

Cass Information Systems (NASDAQ:CASS) last issued its earnings results on Thursday, October 24th. The business services provider reported $0.56 earnings per share (EPS) for the quarter. The firm had revenue of $40.54 million for the quarter. Cass Information Systems had a return on equity of 13.23% and a net margin of 19.85%.

Several large investors have recently added to or reduced their stakes in CASS. Marshall Wace LLP bought a new stake in shares of Cass Information Systems during the 1st quarter valued at $309,000. Bessemer Group Inc. raised its stake in shares of Cass Information Systems by 4.7% during the 2nd quarter. Bessemer Group Inc. now owns 46,320 shares of the business services provider’s stock valued at $2,246,000 after purchasing an additional 2,100 shares during the period. Aperio Group LLC bought a new stake in shares of Cass Information Systems during the 2nd quarter valued at $189,000. Envestnet Asset Management Inc. raised its stake in shares of Cass Information Systems by 8.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 8,374 shares of the business services provider’s stock valued at $406,000 after purchasing an additional 635 shares during the period. Finally, GHP Investment Advisors Inc. raised its stake in shares of Cass Information Systems by 6.3% during the 2nd quarter. GHP Investment Advisors Inc. now owns 85,896 shares of the business services provider’s stock valued at $4,164,000 after purchasing an additional 5,067 shares during the period. Institutional investors own 53.97% 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. 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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