Cass Information Systems (NASDAQ:CASS) Shares Cross Below 200 Day Moving Average - Should You Sell?

Cass Information Systems, Inc. (NASDAQ:CASS - Get Free Report)'s share price 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 traded.

Analyst Upgrades and Downgrades

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

Cass Information Systems Stock Performance

The firm has a fifty day moving average of $43.37 and a 200 day moving average of $42.04. The firm has a market capitalization of $562.98 million, a PE ratio of 24.99 and a beta of 0.73.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last posted 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). Cass Information Systems had a net margin of 11.52% and a return on equity of 9.92%. The firm had revenue of $50.55 million for the quarter, compared to analysts' expectations of $48.99 million. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd were issued a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.24 dividend on an annualized basis and a 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 currently 74.70%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. First National Bank of Omaha grew its stake in Cass Information Systems by 3.3% in the third quarter. First National Bank of Omaha now owns 9,441 shares of the business services provider's stock worth $392,000 after purchasing an additional 300 shares in the last quarter. US Bancorp DE boosted its holdings in Cass Information Systems by 5.4% in the third quarter. US Bancorp DE now owns 7,078 shares of the business services provider's stock worth $294,000 after purchasing an additional 360 shares during the period. Commonwealth Equity Services LLC increased its stake in Cass Information Systems by 2.6% during the second quarter. Commonwealth Equity Services LLC now owns 32,147 shares of the business services provider's stock valued at $1,288,000 after purchasing an additional 808 shares during the last quarter. Copeland Capital Management LLC acquired a new stake in shares of Cass Information Systems during the third quarter worth $37,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Cass Information Systems by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 103,609 shares of the business services provider's stock worth $4,298,000 after buying an additional 1,148 shares during the last quarter. Institutional investors and hedge funds own 59.08% of the company's stock.

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.