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

Cass Information Systems, Inc. (NASDAQ:CASS) was the target of a significant 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. Approximately 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 42,000 shares, the short-interest ratio is presently 4.3 days.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Cass Information Systems

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

Cass Information Systems Trading Down 0.6 %

Shares of Cass Information Systems stock opened at $40.03 on Friday. Cass Information Systems has a 12 month low of $37.99 and a 12 month high of $50.25. The firm has a market capitalization of $543.21 million, a P/E ratio of 24.11 and a beta of 0.73. The business has a fifty day simple moving average of $42.82 and a two-hundred day simple moving average of $42.01.

Cass Information Systems (NASDAQ:CASS) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations 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 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.