Cass Information Systems, Inc. (NASDAQ:CASS) Short Interest Update

Cass Information Systems, Inc. (NASDAQ:CASS) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 181,600 shares, a decrease of 8.5% from the December 15th total of 198,400 shares. Based on an average daily trading volume, of 42,000 shares, the days-to-cover ratio is currently 4.3 days. Approximately 1.5% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. SG Americas Securities LLC raised its holdings in shares of Cass Information Systems by 30.5% during the fourth quarter. SG Americas Securities LLC now owns 6,295 shares of the business services provider’s stock worth $258,000 after purchasing an additional 1,470 shares during the last quarter. JPMorgan Chase & Co. grew its position in Cass Information Systems by 140.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,241 shares of the business services provider’s stock worth $964,000 after purchasing an additional 13,593 shares during the period. Barclays PLC raised its stake in shares of Cass Information Systems by 364.9% during the 3rd quarter. Barclays PLC now owns 21,938 shares of the business services provider’s stock valued at $910,000 after buying an additional 17,219 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cass Information Systems by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 354,155 shares of the business services provider’s stock valued at $14,693,000 after buying an additional 13,607 shares during the period. Finally, First National Bank of Omaha boosted its stake in shares of 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 buying an additional 300 shares during the last quarter. 59.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Cass Information Systems Price Performance

Cass Information Systems stock traded down $0.23 during midday trading 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. Cass Information Systems has a 52-week low of $37.99 and a 52-week high of $50.25. The stock has a market capitalization of $543.21 million, a P/E ratio of 24.11 and a beta of 0.73. The stock’s 50-day simple moving average is $42.82 and its 200-day simple moving average is $42.01.

Cass Information Systems (NASDAQ:CASS) last released its earnings results on Thursday, October 17th. The business services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). The company had revenue of $50.55 million during the quarter, compared to analyst estimates of $48.99 million. Cass Information Systems had a return on equity of 9.92% and a net margin of 11.52%. As a group, equities research analysts expect that Cass Information Systems will post 1.5 earnings per share for the current fiscal year.

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.