Cass Information Systems (NASDAQ:CASS) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Cass Information Systems (NASDAQ CASS) traded down $0.04 during mid-day trading on Friday, hitting $57.65. The company had a trading volume of 16,717 shares, compared to its average volume of 30,798. The firm has a market cap of $707.62, a price-to-earnings ratio of 27.45 and a beta of 1.21. Cass Information Systems has a twelve month low of $53.23 and a twelve month high of $66.74.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.61 earnings per share (EPS) for the quarter. The business had revenue of $34.30 million for the quarter. Cass Information Systems had a return on equity of 12.05% and a net margin of 19.71%.

Cass Information Systems declared that its Board of Directors has approved a share buyback program on Thursday, October 26th that authorizes the company to buyback 500,000 shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

In other news, CEO Eric H. Brunngraber sold 3,268 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $62.51, for a total value of $204,282.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.01% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc grew its stake in shares of Cass Information Systems by 4.0% in the second quarter. Legal & General Group Plc now owns 2,885 shares of the business services provider’s stock worth $189,000 after purchasing an additional 110 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Cass Information Systems by 17.7% in the second quarter. Victory Capital Management Inc. now owns 3,087 shares of the business services provider’s stock worth $203,000 after purchasing an additional 464 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Cass Information Systems in the third quarter worth $360,000. Parametric Portfolio Associates LLC grew its stake in shares of Cass Information Systems by 10.9% in the second quarter. Parametric Portfolio Associates LLC now owns 6,606 shares of the business services provider’s stock worth $434,000 after purchasing an additional 648 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of Cass Information Systems by 6.8% in the second quarter. Voya Investment Management LLC now owns 7,158 shares of the business services provider’s stock worth $470,000 after purchasing an additional 458 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

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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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