Cass Information Systems, Inc. (NASDAQ:CASS) Short Interest Update

Cass Information Systems, Inc. (NASDAQ:CASS) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 201,900 shares, an increase of 7.2% from the March 31st total of 188,300 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average daily volume of 42,300 shares, the days-to-cover ratio is presently 4.8 days.

Wall Street Analysts Forecast Growth

CASS has been the subject of several research analyst reports. Piper Sandler raised shares of Cass Information Systems from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $45.00 to $51.00 in a research report on Monday, February 12th. StockNews.com cut Cass Information Systems from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Finally, TheStreet lowered Cass Information Systems from a “b-” rating to a “c” rating in a research report on Thursday, January 25th.

Institutional Investors Weigh In On Cass Information Systems

Several hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC increased its stake in shares of Cass Information Systems by 6.1% during the third quarter. Commonwealth Equity Services LLC now owns 31,575 shares of the business services provider’s stock valued at $1,176,000 after purchasing an additional 1,811 shares in the last quarter. Pinnacle Associates Ltd. increased its position in Cass Information Systems by 2.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 66,928 shares of the business services provider’s stock valued at $2,493,000 after buying an additional 1,760 shares in the last quarter. Raymond James & Associates increased its position in Cass Information Systems by 29.3% during the 3rd quarter. Raymond James & Associates now owns 33,500 shares of the business services provider’s stock valued at $1,248,000 after buying an additional 7,587 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Cass Information Systems by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 120,551 shares of the business services provider’s stock valued at $4,491,000 after buying an additional 1,202 shares during the last quarter. Finally, Heartland Advisors Inc. boosted its holdings in Cass Information Systems by 3.3% in the third quarter. Heartland Advisors Inc. now owns 336,527 shares of the business services provider’s stock worth $12,536,000 after acquiring an additional 10,908 shares in the last quarter. Institutional investors own 59.08% of the company’s stock.

Cass Information Systems Trading Up 0.7 %

Shares of CASS stock opened at $43.49 on Thursday. The company’s fifty day moving average price is $46.15 and its 200-day moving average price is $43.68. The stock has a market cap of $592.77 million, a PE ratio of 19.86 and a beta of 0.75. Cass Information Systems has a 12 month low of $35.20 and a 12 month high of $50.25.

Cass Information Systems Company Profile

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.