Cass Information Systems (NASDAQ:CASS) PT Raised to $45.00 at Piper Sandler

Cass Information Systems (NASDAQ:CASS) had its price objective lifted by research analysts at Piper Sandler from $44.00 to $45.00 in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. Piper Sandler’s target price suggests a potential upside of 11.69% from the company’s current price.

Cass Information Systems Stock Down 4.5 %

Shares of CASS stock opened at $40.29 on Friday. The company has a market capitalization of $549.72 million, a P/E ratio of 18.40 and a beta of 0.70. Cass Information Systems has a 12-month low of $36.22 and a 12-month high of $50.25. The firm has a 50-day moving average price of $41.52 and a 200 day moving average price of $42.25.

Cass Information Systems (NASDAQ:CASS) last posted its earnings results on Thursday, July 18th. The business services provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21). The firm had revenue of $48.59 million during the quarter, compared to the consensus estimate of $50.00 million. Cass Information Systems had a net margin of 13.84% and a return on equity of 12.26%. As a group, research analysts expect that Cass Information Systems will post 1.85 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CASS. Heartland Advisors Inc. grew its holdings in Cass Information Systems by 5.7% during the 1st quarter. Heartland Advisors Inc. now owns 373,843 shares of the business services provider’s stock worth $18,008,000 after acquiring an additional 20,181 shares during the last quarter. Tributary Capital Management LLC grew its stake in shares of Cass Information Systems by 0.3% during the second quarter. Tributary Capital Management LLC now owns 302,577 shares of the business services provider’s stock valued at $12,124,000 after purchasing an additional 912 shares during the last quarter. Speece Thorson Capital Group Inc. increased its holdings in shares of Cass Information Systems by 39.8% in the second quarter. Speece Thorson Capital Group Inc. now owns 222,081 shares of the business services provider’s stock valued at $8,899,000 after purchasing an additional 63,280 shares in the last quarter. Bank of New York Mellon Corp raised its position in Cass Information Systems by 7.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 90,157 shares of the business services provider’s stock worth $3,613,000 after purchasing an additional 6,071 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Cass Information Systems by 39.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 73,820 shares of the business services provider’s stock worth $3,556,000 after buying an additional 21,032 shares in the last quarter. 59.08% of the stock is owned by institutional investors.

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.