Cass Information Systems (CASS) Rating Increased to Strong-Buy at BidaskClub

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Cass Information Systems (NASDAQ:CASS) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday.

Separately, ValuEngine raised shares of Cass Information Systems from a “hold” rating to a “buy” rating in a research report on Thursday, July 5th.

Shares of CASS opened at $72.42 on Tuesday. The stock has a market cap of $878.68 million, a PE ratio of 29.97 and a beta of 1.03. Cass Information Systems has a 1 year low of $54.37 and a 1 year high of $74.49.

Cass Information Systems (NASDAQ:CASS) last issued its quarterly earnings results on Thursday, July 26th. The business services provider reported $0.60 earnings per share (EPS) for the quarter. The business had revenue of $36.36 million for the quarter. Cass Information Systems had a net margin of 19.62% and a return on equity of 13.18%.

In other news, insider Robert J. Mathias sold 1,354 shares of the stock in a transaction dated 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 legal filing with the SEC, which is available at this link. 4.91% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of CASS. BlackRock Inc. lifted its position in shares of Cass Information Systems by 7.3% during the second quarter. BlackRock Inc. now owns 771,994 shares of the business services provider’s stock worth $53,128,000 after purchasing an additional 52,831 shares in the last quarter. Martingale Asset Management L P acquired a new stake in shares of Cass Information Systems during the second quarter worth about $2,423,000. King Luther Capital Management Corp acquired a new stake in shares of Cass Information Systems during the first quarter worth about $1,350,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Cass Information Systems in the first quarter valued at approximately $1,123,000. Finally, Dimensional Fund Advisors LP raised its holdings in Cass Information Systems by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 420,044 shares of the business services provider’s stock valued at $24,997,000 after acquiring an additional 18,830 shares in the last quarter. 52.06% of the stock is currently owned by institutional investors and hedge funds.

About Cass Information Systems

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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