Cass Information Systems (CASS) Downgraded by BidaskClub

Cass Information Systems (NASDAQ:CASS) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Friday.

Cass Information Systems (NASDAQ:CASS) traded up $0.64 during trading on Friday, reaching $58.17. The company’s stock had a trading volume of 16,121 shares, compared to its average volume of 19,990. Cass Information Systems has a 1 year low of $56.58 and a 1 year high of $69.86. The firm has a market capitalization of $706.64, a price-to-earnings ratio of 27.58 and a beta of 1.21.

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

Cass Information Systems declared that its board has initiated a stock repurchase 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 usually a sign that the company’s board of directors believes its stock is undervalued.

In other Cass Information Systems 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 transaction of $204,282.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.01% of the company’s stock.

Several large investors have recently made changes to their positions in CASS. Legal & General Group Plc increased 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 valued at $189,000 after buying an additional 110 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Cass Information Systems by 6.4% in the second quarter. Teachers Advisors LLC now owns 19,644 shares of the business services provider’s stock valued at $1,289,000 after buying an additional 1,190 shares in the last quarter. Nationwide Fund Advisors increased its stake in shares of Cass Information Systems by 25.0% in the second quarter. Nationwide Fund Advisors now owns 16,875 shares of the business services provider’s stock valued at $1,108,000 after buying an additional 3,372 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Cass Information Systems by 3.1% in the second quarter. New York State Common Retirement Fund now owns 16,464 shares of the business services provider’s stock valued at $1,081,000 after buying an additional 499 shares in the last quarter. Finally, Menta Capital LLC increased its stake in shares of Cass Information Systems by 79.2% in the second quarter. Menta Capital LLC now owns 9,514 shares of the business services provider’s stock valued at $624,000 after buying an additional 4,206 shares in the last quarter. Institutional investors own 45.67% of the company’s stock.

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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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