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

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

Cass Information Systems Stock Performance

Shares of NASDAQ:CASS traded down $0.23 on Friday, reaching $40.03. The company's stock had a trading volume of 44,493 shares, compared to its average volume of 42,368. The company has a 50-day simple moving average of $42.82 and a 200 day simple moving average of $42.01. The company has a market cap of $543.21 million, a P/E ratio of 24.11 and a beta of 0.73. Cass Information Systems has a 52-week low of $37.99 and a 52-week high of $50.25.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last issued its quarterly earnings data 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). Cass Information Systems had a return on equity of 9.92% and a net margin of 11.52%. The company had revenue of $50.55 million for the quarter, compared to the consensus estimate of $48.99 million. On average, equities research analysts forecast that Cass Information Systems will post 1.5 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CASS. Copeland Capital Management LLC bought a new stake in shares of Cass Information Systems in the 3rd quarter worth about $37,000. SG Americas Securities LLC purchased a new stake in Cass Information Systems in the 3rd quarter worth about $200,000. Creative Planning bought a new stake in Cass Information Systems in the third quarter worth about $205,000. Renaissance Technologies LLC purchased a new position in shares of Cass Information Systems during the second quarter valued at approximately $251,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Cass Information Systems by 27.9% during the third quarter. BNP Paribas Financial Markets now owns 6,387 shares of the business services provider's stock valued at $265,000 after buying an additional 1,394 shares during the last quarter. 59.08% of the stock is owned by hedge funds and other institutional investors.

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.