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

Cass Information Systems, Inc. (NASDAQ:CASS)’s stock price passed 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 changing hands.

Wall Street Analysts Forecast Growth

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

Cass Information Systems Stock Performance

The company has a 50-day simple moving average of $43.35 and a two-hundred day simple moving average of $42.03. The firm 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 released its quarterly earnings results on Thursday, October 17th. The business services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.29). The firm had revenue of $50.55 million for 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%. As a group, research analysts forecast that Cass Information Systems, Inc. will post 1.48 earnings per share for the current fiscal year.

Cass Information Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Tuesday, December 3rd were paid a $0.31 dividend. 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. The ex-dividend date of this dividend was Tuesday, December 3rd. Cass Information Systems’s dividend payout ratio (DPR) is presently 74.70%.

Institutional Trading of Cass Information Systems

Hedge funds have recently made changes to their positions in the stock. Copeland Capital Management LLC purchased a new position in Cass Information Systems in the third quarter worth about $37,000. SG Americas Securities LLC purchased a new position in Cass Information Systems in the 3rd quarter worth approximately $200,000. Creative Planning bought a new position in Cass Information Systems in the 3rd quarter valued at approximately $205,000. Renaissance Technologies LLC purchased a new stake in Cass Information Systems during the 2nd quarter valued at $251,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of 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 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.