Cass Information Systems (NASDAQ:CASS) Shares Gap Down After Earnings Miss

Cass Information Systems, Inc. (NASDAQ:CASS – Get Free Report) shares gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $46.06, but opened at $41.12. Cass Information Systems shares last traded at $43.29, with a volume of 7,902 shares traded.

The business services provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21). Cass Information Systems had a return on equity of 13.67% and a net margin of 15.21%. The business had revenue of $48.59 million for the quarter, compared to analysts’ expectations of $50.00 million.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Cass Information Systems from a “buy” rating to a “hold” rating in a report on Saturday, April 27th.

Get Our Latest Research Report on CASS

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CASS. Global Retirement Partners LLC acquired a new stake in shares of Cass Information Systems during the fourth quarter worth $114,000. SG Americas Securities LLC purchased a new position in Cass Information Systems during the 4th quarter worth $173,000. Dumont & Blake Investment Advisors LLC purchased a new position in Cass Information Systems during the 1st quarter worth $207,000. Compass Ion Advisors LLC acquired a new stake in shares of Cass Information Systems in the 1st quarter worth $223,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Cass Information Systems by 47.1% in the first quarter. Janney Montgomery Scott LLC now owns 6,546 shares of the business services provider’s stock valued at $315,000 after acquiring an additional 2,097 shares in the last quarter. 59.08% of the stock is currently owned by hedge funds and other institutional investors.

Cass Information Systems Price Performance

The firm has a market capitalization of $541.51 million, a price-to-earnings ratio of 18.13 and a beta of 0.70. The business’s 50 day moving average price is $42.08 and its 200-day moving average price is $44.12.

About Cass Information Systems

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Cass Information Systems Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Cass Information Systems and related companies with MarketBeat.com’s FREE daily email newsletter.