Cass Information Systems, Inc (NASDAQ:CASS) announced its quarterly earnings results on Thursday. The business services provider reported $0.61 earnings per share for the quarter, Bloomberg Earnings reports. Cass Information Systems had a net margin of 19.63% and a return on equity of 11.92%. The firm had revenue of $34.30 million during the quarter.
Shares of Cass Information Systems (NASDAQ CASS) traded up 1.08% during midday trading on Friday, hitting $65.42. 7,068 shares of the stock traded hands. Cass Information Systems has a 52-week low of $52.69 and a 52-week high of $74.83. The company has a market cap of $732.90 million, a price-to-earnings ratio of 29.08 and a beta of 1.17. The stock has a 50-day moving average of $63.23 and a 200-day moving average of $63.89.
Separately, BidaskClub cut shares of Cass Information Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th.
Cass Information Systems announced that its Board of Directors has authorized a stock repurchase program on Thursday, October 26th that allows the company to repurchase 500,000 shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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Cass Information Systems Company Profile
Cass Information Systems, Inc (Cass) is a provider of payment and information processing services to manufacturing, distribution and retail enterprises across the United States with operating locations in Missouri, Ohio, Massachusetts, South Carolina and Florida. The Company provides transportation invoice rating, payment processing, auditing, accounting and transportation information.
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