Cass Information Systems (NASDAQ:CASS) Share Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Cass Information Systems, Inc. (NASDAQ:CASS) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $42.03 and traded as low as $40.36. Cass Information Systems shares last traded at $41.28, with a volume of 94,874 shares trading hands.

Analysts Set New Price Targets

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

Cass Information Systems Stock Up 0.5 %

The business’s 50-day moving average is $43.35 and its two-hundred day moving average is $42.03. The company has a market capitalization of $562.98 million, a P/E ratio of 24.99 and a beta of 0.73.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings data on Thursday, October 17th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). The business had revenue of $50.55 million during the quarter, compared to the consensus estimate of $48.99 million. Cass Information Systems had a net margin of 11.52% and a return on equity of 9.92%. Analysts predict that Cass Information Systems, Inc. will post 1.48 EPS for the current year.

Cass Information Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were given a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.24 annualized dividend and a dividend yield of 2.99%. This is a positive change from Cass Information Systems’s previous quarterly dividend of $0.30. Cass Information Systems’s payout ratio is 74.70%.

Hedge Funds Weigh In On Cass Information Systems

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in Cass Information Systems by 140.9% in the third quarter. JPMorgan Chase & Co. now owns 23,241 shares of the business services provider’s stock worth $964,000 after acquiring an additional 13,593 shares in the last quarter. Barclays PLC increased its position in shares of Cass Information Systems by 364.9% during the 3rd quarter. Barclays PLC now owns 21,938 shares of the business services provider’s stock valued at $910,000 after purchasing an additional 17,219 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cass Information Systems by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 354,155 shares of the business services provider’s stock valued at $14,693,000 after buying an additional 13,607 shares in the last quarter. First National Bank of Omaha lifted its position in Cass Information Systems by 3.3% in the 3rd quarter. First National Bank of Omaha now owns 9,441 shares of the business services provider’s stock worth $392,000 after buying an additional 300 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Cass Information Systems by 0.8% during the third quarter. State Street Corp now owns 319,177 shares of the business services provider’s stock worth $13,239,000 after acquiring an additional 2,466 shares in the last quarter. 59.08% of the stock is currently owned by institutional investors.

About Cass Information Systems

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.