Cass Information Systems (NASDAQ:CASS) Upgraded by BidaskClub to Strong-Buy

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Cass Information Systems (NASDAQ:CASS) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Wednesday, June 20th.

Shares of CASS stock opened at $68.82 on Wednesday. The firm has a market capitalization of $850.53 million, a price-to-earnings ratio of 29.94 and a beta of 1.18. Cass Information Systems has a one year low of $54.37 and a one year high of $74.49.

Cass Information Systems (NASDAQ:CASS) last posted its earnings results on Thursday, April 26th. The business services provider reported $0.65 earnings per share (EPS) for the quarter. Cass Information Systems had a net margin of 19.28% and a return on equity of 12.81%. The company had revenue of $35.98 million during the quarter.

In related news, insider Robert J. Mathias sold 1,354 shares of Cass Information Systems stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $66.00, for a total transaction of $89,364.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 4.91% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in shares of Cass Information Systems in the 4th quarter worth approximately $109,000. Port Capital LLC acquired a new position in shares of Cass Information Systems in the 1st quarter worth approximately $206,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Cass Information Systems in the 1st quarter worth approximately $206,000. Element Capital Management LLC acquired a new position in shares of Cass Information Systems during the 1st quarter valued at $213,000. Finally, Bank of Montreal Can lifted its position in shares of Cass Information Systems by 135.4% during the 4th quarter. Bank of Montreal Can now owns 3,733 shares of the business services provider’s stock valued at $217,000 after acquiring an additional 2,147 shares during the period. 50.59% of the stock is currently owned by hedge funds and other institutional investors.

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. It operates through two segments, Information Services and Banking Services. The company's services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information.

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