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

Cass Information Systems, Inc. (NASDAQ:CASS) was the recipient of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 181,600 shares, a decrease of 8.5% from the December 15th total of 198,400 shares. Based on an average daily volume of 42,000 shares, the short-interest ratio is presently 4.3 days. Currently, 1.5% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Piper Sandler increased their price target on Cass Information Systems from $44.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th.

Cass Information Systems Price Performance

Shares of CASS opened at $40.03 on Monday. The firm has a market cap of $543.21 million, a P/E ratio of 24.11 and a beta of 0.73. Cass Information Systems has a 1 year low of $37.99 and a 1 year high of $50.25. The company has a 50 day simple moving average of $42.82 and a two-hundred day simple moving average of $42.02.

Cass Information Systems (NASDAQ:CASS) last issued its earnings results on Thursday, October 17th. The business services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). The company had revenue of $50.55 million for the quarter, compared to the consensus estimate of $48.99 million. Cass Information Systems had a return on equity of 9.92% and a net margin of 11.52%. On average, sell-side analysts anticipate that Cass Information Systems will post 1.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Copeland Capital Management LLC bought a new stake in shares of Cass Information Systems in the third quarter worth about $37,000. SG Americas Securities LLC bought a new stake in Cass Information Systems in the 3rd quarter worth approximately $200,000. Creative Planning purchased a new stake in shares of Cass Information Systems during the 3rd quarter worth approximately $205,000. Renaissance Technologies LLC bought a new position in shares of Cass Information Systems during the 2nd quarter valued at approximately $251,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Cass Information Systems by 27.9% in the third quarter. BNP Paribas Financial Markets now owns 6,387 shares of the business services provider’s stock valued at $265,000 after purchasing an additional 1,394 shares in the last quarter. Institutional investors own 59.08% of the company’s stock.

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.