Cass Information Systems, Inc. (NASDAQ:CASS) Short Interest Up 7.2% in April

Cass Information Systems, Inc. (NASDAQ:CASS) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 201,900 shares, an increase of 7.2% from the March 31st total of 188,300 shares. Based on an average trading volume of 42,300 shares, the short-interest ratio is presently 4.8 days. Currently, 1.7% of the company’s stock are sold short.

Hedge Funds Weigh In On Cass Information Systems

Several institutional investors have recently made changes to their positions in CASS. Commonwealth Equity Services LLC lifted its holdings in shares of Cass Information Systems by 6.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 31,575 shares of the business services provider’s stock worth $1,176,000 after purchasing an additional 1,811 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in Cass Information Systems by 2.7% in the third quarter. Pinnacle Associates Ltd. now owns 66,928 shares of the business services provider’s stock valued at $2,493,000 after buying an additional 1,760 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Cass Information Systems by 29.3% during the third quarter. Raymond James & Associates now owns 33,500 shares of the business services provider’s stock valued at $1,248,000 after acquiring an additional 7,587 shares during the period. Bank of New York Mellon Corp grew its position in shares of Cass Information Systems by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 120,551 shares of the business services provider’s stock worth $4,491,000 after acquiring an additional 1,202 shares during the last quarter. Finally, Heartland Advisors Inc. increased its holdings in shares of Cass Information Systems by 3.3% in the 3rd quarter. Heartland Advisors Inc. now owns 336,527 shares of the business services provider’s stock worth $12,536,000 after acquiring an additional 10,908 shares during the period. 59.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CASS has been the subject of a number of research reports. TheStreet downgraded Cass Information Systems from a “b-” rating to a “c” rating in a research note on Thursday, January 25th. Piper Sandler upgraded Cass Information Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $45.00 to $51.00 in a research report on Monday, February 12th. Finally, StockNews.com lowered Cass Information Systems from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th.

Cass Information Systems Stock Performance

NASDAQ CASS opened at $43.49 on Thursday. Cass Information Systems has a one year low of $35.20 and a one year high of $50.25. The company has a 50-day simple moving average of $46.15 and a 200-day simple moving average of $43.68. The firm has a market capitalization of $592.77 million, a PE ratio of 19.86 and a beta of 0.75.

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.