Cass Information Systems (NASDAQ:CASS) Lifted to Sell at BidaskClub

BidaskClub upgraded shares of Cass Information Systems (NASDAQ:CASS) from a strong sell rating to a sell rating in a report published on Wednesday morning, BidAskClub reports.

Shares of CASS traded up $0.23 during mid-day trading on Wednesday, reaching $39.47. The stock had a trading volume of 21,017 shares, compared to its average volume of 58,171. Cass Information Systems has a 12 month low of $28.85 and a 12 month high of $60.97. The business has a fifty day moving average of $37.74 and a 200 day moving average of $40.31. The firm has a market cap of $560.11 million, a price-to-earnings ratio of 20.99 and a beta of 0.86.

Cass Information Systems (NASDAQ:CASS) last announced its earnings results on Thursday, July 23rd. The business services provider reported $0.37 earnings per share (EPS) for the quarter. The company had revenue of $33.94 million for the quarter. Cass Information Systems had a net margin of 18.17% and a return on equity of 11.23%.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.08 dividend on an annualized basis and a yield of 2.74%.

A number of large investors have recently modified their holdings of CASS. Buckingham Asset Management LLC increased its stake in Cass Information Systems by 12,006.5% during the first quarter. Buckingham Asset Management LLC now owns 876,147 shares of the business services provider’s stock worth $30,805,000 after purchasing an additional 868,910 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Cass Information Systems by 65.6% in the 1st quarter. Janus Henderson Group PLC now owns 566,060 shares of the business services provider’s stock valued at $19,903,000 after purchasing an additional 224,199 shares in the last quarter. Tributary Capital Management LLC raised its holdings in shares of Cass Information Systems by 101.0% during the 2nd quarter. Tributary Capital Management LLC now owns 254,434 shares of the business services provider’s stock valued at $9,931,000 after buying an additional 127,877 shares during the period. Atlanta Capital Management Co. L L C increased its holdings in Cass Information Systems by 29.8% during the 1st quarter. Atlanta Capital Management Co. L L C now owns 550,419 shares of the business services provider’s stock worth $19,353,000 after purchasing an additional 126,377 shares during the last quarter. Finally, State Street Corp increased its holdings in Cass Information Systems by 15.8% during the 1st quarter. State Street Corp now owns 365,042 shares of the business services provider’s stock worth $12,835,000 after purchasing an additional 49,746 shares during the last quarter. Institutional investors own 62.85% 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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