Piper Sandler Increases Cass Information Systems (NASDAQ:CASS) Price Target to $45.00

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

Cass Information Systems Stock Down 4.5 %

Shares of NASDAQ:CASS opened at $40.29 on Friday. The company has a market cap of $549.72 million, a price-to-earnings ratio of 18.40 and a beta of 0.70. The business has a 50 day moving average price of $41.52 and a 200 day moving average price of $42.25. Cass Information Systems has a twelve month low of $36.22 and a twelve month high of $50.25.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings data on Thursday, July 18th. The business services provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.21). The business 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%. Analysts anticipate that Cass Information Systems will post 1.85 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC increased its stake in Cass Information Systems by 2.6% during the second quarter. Commonwealth Equity Services LLC now owns 32,147 shares of the business services provider’s stock valued at $1,288,000 after acquiring an additional 808 shares during the period. Tributary Capital Management LLC raised its stake in shares of Cass Information Systems by 0.3% in 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 in the last quarter. Ellsworth Advisors LLC lifted its position in Cass Information Systems by 9.4% in the second quarter. Ellsworth Advisors LLC now owns 10,809 shares of the business services provider’s stock worth $433,000 after purchasing an additional 930 shares during the period. BNP Paribas Financial Markets lifted its position in Cass Information Systems by 11.1% in the first quarter. BNP Paribas Financial Markets now owns 11,164 shares of the business services provider’s stock worth $538,000 after purchasing an additional 1,112 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in Cass Information Systems by 47.1% during the first quarter. Janney Montgomery Scott LLC now owns 6,546 shares of the business services provider’s stock worth $315,000 after buying an additional 2,097 shares in 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.