Cass Information Systems, Inc. (NASDAQ:CASS) Short Interest Down 8.5% in December

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

Institutional Trading of Cass Information Systems

A number of institutional investors have recently modified their holdings of CASS. Speece Thorson Capital Group Inc. increased its holdings in Cass Information Systems by 37.6% during the 3rd quarter. Speece Thorson Capital Group Inc. now owns 305,495 shares of the business services provider’s stock valued at $12,672,000 after purchasing an additional 83,414 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Cass Information Systems in the 3rd quarter worth approximately $3,029,000. Barclays PLC increased its stake in shares of Cass Information Systems by 364.9% during the third quarter. Barclays PLC now owns 21,938 shares of the business services provider’s stock valued at $910,000 after buying an additional 17,219 shares during the period. Tributary Capital Management LLC raised its holdings in shares of Cass Information Systems by 5.3% during the third quarter. Tributary Capital Management LLC now owns 318,496 shares of the business services provider’s stock valued at $13,211,000 after acquiring an additional 15,919 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Cass Information Systems by 4.0% in the third quarter. Geode Capital Management LLC now owns 354,155 shares of the business services provider’s stock worth $14,693,000 after acquiring an additional 13,607 shares during the period. 59.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Cass Information Systems Stock Performance

Shares of CASS stock opened at $40.03 on Friday. The company has a market capitalization of $543.21 million, a P/E ratio of 24.11 and a beta of 0.73. Cass Information Systems has a fifty-two week low of $37.99 and a fifty-two week high of $50.25. The stock has a 50 day moving average price of $42.82 and a two-hundred day moving average price of $42.01.

Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings results on Thursday, October 17th. The business services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). Cass Information Systems had a net margin of 11.52% and a return on equity of 9.92%. The firm had revenue of $50.55 million for the quarter, compared to the consensus estimate of $48.99 million. As a group, equities analysts predict that Cass Information Systems will post 1.5 earnings per share for the current year.

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.