Cass Information Systems (NASDAQ:CASS) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Cass Information Systems (NASDAQ:CASS) posted its earnings results on Thursday. The business services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.80 by $0.01, FiscalAI reports. The firm had revenue of $27.53 million for the quarter, compared to analysts’ expectations of $52.29 million. Cass Information Systems had a return on equity of 14.89% and a net margin of 18.45%.

Cass Information Systems Price Performance

Shares of Cass Information Systems stock traded up $0.60 on Thursday, hitting $55.50. The company had a trading volume of 14,323 shares, compared to its average volume of 78,984. The business has a 50-day simple moving average of $55.29 and a 200-day simple moving average of $51.74. The company has a market cap of $710.96 million, a PE ratio of 19.96 and a beta of 0.39. Cass Information Systems has a 52 week low of $38.20 and a 52 week high of $59.63.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CASS shares. Piper Sandler reissued a “neutral” rating and issued a $61.00 price target (up from $52.00) on shares of Cass Information Systems in a research note on Thursday, August 6th. Zacks Research lowered Cass Information Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 8th. Weiss Ratings raised Cass Information Systems from a “buy (b)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Finally, Raymond James Financial lifted their price objective on shares of Cass Information Systems from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Cass Information Systems has a consensus rating of “Moderate Buy” and a consensus target price of $58.50.

About Cass Information Systems

Cass Information Systems, Inc (NASDAQ:CASS) provides payment and information-processing services to businesses. Its offerings are designed to help companies manage, audit and analyze expenditures associated with transportation, utilities, telecommunications and other recurring business expenses.

The company’s transportation services include freight invoice payment, auditing, rating, electronic data interchange and related information-management tools for shippers and logistics organizations.