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 $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04, Zacks reports. Cass Information Systems had a return on equity of 11.61% and a net margin of 16.48%.

Cass Information Systems Stock Performance

Cass Information Systems stock opened at $42.92 on Thursday. Cass Information Systems has a 52 week low of $36.07 and a 52 week high of $47.00. The firm has a market capitalization of $561.39 million, a PE ratio of 18.42 and a beta of 0.44. The business’s 50-day simple moving average is $42.15 and its 200-day simple moving average is $41.60.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Triumph Capital Management bought a new stake in shares of Cass Information Systems in the third quarter valued at approximately $25,000. BNP Paribas Financial Markets raised its stake in Cass Information Systems by 50.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,227 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 413 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Cass Information Systems by 1,206.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,594 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 1,472 shares during the period. Tower Research Capital LLC TRC grew its position in Cass Information Systems by 1,671.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,588 shares of the business services provider’s stock worth $199,000 after purchasing an additional 4,329 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in Cass Information Systems in the 2nd quarter worth $229,000. 59.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CASS has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cass Information Systems in a research note on Wednesday, October 8th. Zacks Research upgraded Cass Information Systems from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $45.00 target price (down from $47.00) on shares of Cass Information Systems in a research note on Friday, October 24th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cass Information Systems currently has an average rating of “Moderate Buy” and an average target price of $45.50.

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.