Cass Information Systems, Inc (NASDAQ:CASS) Downgraded by BidaskClub to “Strong Sell”
Cass Information Systems, Inc (NASDAQ:CASS) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.
Cass Information Systems (NASDAQ CASS) traded down 0.30% during mid-day trading on Friday, hitting $62.74. 23,508 shares of the stock were exchanged. The company’s 50-day moving average price is $65.92 and its 200 day moving average price is $65.01. The firm has a market capitalization of $702.37 million, a price-to-earnings ratio of 27.88 and a beta of 1.17. Cass Information Systems has a 52 week low of $50.82 and a 52 week high of $74.83.
Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.58 EPS for the quarter. Cass Information Systems had a net margin of 19.63% and a return on equity of 12.06%. The firm had revenue of $33.66 million during the quarter. Equities research analysts expect that Cass Information Systems will post $2.07 EPS for the current year.
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In related news, insider Robert J. Mathias sold 698 shares of Cass Information Systems stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $65.00, for a total transaction of $45,370.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Gary B. Langfitt sold 750 shares of Cass Information Systems stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $65.50, for a total transaction of $49,125.00. The disclosure for this sale can be found here. 5.01% of the stock is currently owned by insiders.
A hedge fund recently raised its stake in Cass Information Systems stock. Legal & General Group Plc increased its position in Cass Information Systems, Inc (NASDAQ:CASS) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,885 shares of the business services provider’s stock after buying an additional 110 shares during the period. Legal & General Group Plc’s holdings in Cass Information Systems were worth $189,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 50.80% of the company’s stock.
About Cass Information Systems
Cass Information Systems, Inc (Cass) is a provider of payment and information processing services to manufacturing, distribution and retail enterprises across the United States with operating locations in Missouri, Ohio, Massachusetts, South Carolina and Florida. The Company provides transportation invoice rating, payment processing, auditing, accounting and transportation information.
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