Cass Information Systems (NASDAQ:CASS) Sees Unusually-High Trading Volume – Still a Buy?

Cass Information Systems, Inc (NASDAQ:CASS) shares saw an uptick in trading volume on Monday . Approximately 49,028 shares changed hands during trading, a decline of 38% from the previous session’s volume of 79,311 shares.The stock last traded at $56.04 and had previously closed at $56.65.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CASS. Piper Sandler reaffirmed a “neutral” rating and issued a $61.00 price target (up from $52.00) on shares of Cass Information Systems in a research report on Thursday, August 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Cass Information Systems in a research report on Tuesday, August 4th. Raymond James Financial upped their target price on shares of Cass Information Systems from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Finally, Zacks Research downgraded shares of Cass Information Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.50.

Cass Information Systems Trading Down 1.6%

The company has a market capitalization of $707.11 million, a PE ratio of 19.86 and a beta of 0.40. The stock has a fifty day simple moving average of $54.84 and a 200-day simple moving average of $49.16.

Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings data on Thursday, July 23rd. The business services provider reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). Cass Information Systems had a net margin of 18.45% and a return on equity of 14.89%. The business had revenue of $27.04 million during the quarter, compared to analysts’ expectations of $51.02 million. As a group, equities research analysts predict that Cass Information Systems, Inc will post 2.99 EPS for the current year.

Cass Information Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, September 4th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, September 4th. Cass Information Systems’s dividend payout ratio is 46.04%.

Institutional Trading of Cass Information Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CASS. Triumph Capital Management acquired a new position in shares of Cass Information Systems in the 3rd quarter valued at $25,000. Kingdom Financial Group LLC. acquired a new stake in Cass Information Systems during the 4th quarter worth $26,000. New York State Teachers Retirement System purchased a new stake in Cass Information Systems in the fourth quarter valued at $46,000. BNP Paribas Financial Markets lifted its position in Cass Information Systems by 50.7% in the second quarter. BNP Paribas Financial Markets now owns 1,227 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 413 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in Cass Information Systems in the second quarter valued at $59,000. Institutional investors and hedge funds own 59.08% of the company’s stock.

Cass Information Systems Company Profile

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.