Cass Information Systems (NASDAQ:CASS) Stock Crosses Below 200-Day Moving Average – What’s Next?

Cass Information Systems, Inc. (NASDAQ:CASS)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $42.03 and traded as low as $40.36. Cass Information Systems shares last traded at $41.28, with a volume of 94,874 shares trading hands.

Analysts Set New Price Targets

Separately, Piper Sandler lifted their target price on shares of Cass Information Systems from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, October 18th.

Cass Information Systems Stock Performance

The stock has a market cap of $560.13 million, a price-to-earnings ratio of 24.87 and a beta of 0.73. The business’s fifty day simple moving average is $43.40 and its 200 day simple moving average is $42.03.

Cass Information Systems (NASDAQ:CASS) last issued its quarterly earnings data on Thursday, October 17th. The business services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). Cass Information Systems had a return on equity of 9.92% and a net margin of 11.52%. The firm had revenue of $50.55 million during the quarter, compared to analyst estimates of $48.99 million. As a group, analysts forecast that Cass Information Systems, Inc. will post 1.48 EPS for the current fiscal year.

Cass Information Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd were issued a $0.31 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.24 dividend on an annualized basis and a yield of 3.00%. This is a positive change from Cass Information Systems’s previous quarterly dividend of $0.30. Cass Information Systems’s payout ratio is currently 74.70%.

Hedge Funds Weigh In On Cass Information Systems

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in Cass Information Systems by 364.9% in the 3rd quarter. Barclays PLC now owns 21,938 shares of the business services provider’s stock worth $910,000 after buying an additional 17,219 shares in the last quarter. Foundry Partners LLC increased its position in shares of Cass Information Systems by 12.1% in the 3rd quarter. Foundry Partners LLC now owns 122,405 shares of the business services provider’s stock worth $5,077,000 after purchasing an additional 13,180 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Cass Information Systems by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 354,155 shares of the business services provider’s stock worth $14,693,000 after purchasing an additional 13,607 shares during the last quarter. Tributary Capital Management LLC increased its position in shares of Cass Information Systems by 5.3% in the 3rd quarter. Tributary Capital Management LLC now owns 318,496 shares of the business services provider’s stock worth $13,211,000 after purchasing an additional 15,919 shares during the last quarter. Finally, Speece Thorson Capital Group Inc. increased its position in shares of Cass Information Systems by 37.6% in the 3rd quarter. Speece Thorson Capital Group Inc. now owns 305,495 shares of the business services provider’s stock worth $12,672,000 after purchasing an additional 83,414 shares during the last quarter. Institutional investors and hedge funds own 59.08% of the company’s stock.

About Cass Information Systems

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.