The stock of Cass Information Systems (NASDAQ:CASS) hit a new 52-week high and has $104.17 target or 66.00% above today’s $62.75 share price. The 6 months bullish chart indicates low risk for the $718.50 million company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $104.17 price target is reached, the company will be worth $474.21 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 21,777 shares traded hands or 25.66% up from the average. Cass Information Systems (NASDAQ:CASS) has risen 19.35% since April 11, 2016 and is uptrending. It has outperformed by 13.20% the S&P500.
According to Zacks Investment Research, “Cass is a leading provider of payables services and information support systems to companies throughout North America.”
Insitutional Activity: The institutional sentiment decreased to 1 in Q2 2016. Its down 0.15, from 1.15 in 2016Q1. The ratio worsened, as 3 funds sold all Cass Information Systems shares owned while 32 reduced positions. 8 funds bought stakes while 27 increased positions. They now own 5.05 million shares or 2.91% less from 5.20 million shares in 2016Q1.
Ftb Advsr accumulated 0% or 72 shares. Grp Inc Incorporated, a New York-based fund reported 6,313 shares. Ubs Asset Mgmt Americas holds 0% or 5,700 shares in its portfolio. Susquehanna Ltd Liability Partnership reported 5,100 shares or 0% of all its holdings. Great West Life Assurance Can holds 0% or 907 shares in its portfolio. Benedict Financial Advsr has invested 0.12% of its portfolio in Cass Information Systems (NASDAQ:CASS). Kayne Anderson Rudnick Mngmt Limited Liability Company accumulated 1.06 million shares or 0.82% of the stock. Citigroup accumulated 0% or 3,998 shares. Parkside State Bank And Trust, a Missouri-based fund reported 63 shares. Vanguard Group last reported 451,837 shares in the company. Moreover, Rhumbline Advisers has 0% invested in Cass Information Systems (NASDAQ:CASS) for 13,490 shares. California State Teachers Retirement System last reported 22,996 shares in the company. Moreover, Tower Research Cap Limited Liability Co (Trc) has 0% invested in Cass Information Systems (NASDAQ:CASS) for 123 shares. Ghp Investment Advsrs accumulated 0.3% or 27,345 shares. Royal Bancorporation Of Canada reported 61 shares or 0% of all its holdings.
Insider Transactions: Since June 10, 2016, the stock had 0 insider buys, and 3 insider sales for $343,089 net activity. $254,000 worth of shares were sold by BRUNNGRABER ERIC H on Friday, July 29. MATHIAS ROBERT J also sold $43,425 worth of Cass Information Systems (NASDAQ:CASS) on Monday, October 24.
More notable recent Cass Information Systems (NASDAQ:CASS) news were published by: Stltoday.com which released: “Cass Information Systems profits slip” on April 20, 2015, also Bizjournals.com with their article: “Cass Information adds customers, revenue and profit” published on July 27, 2016, Equitiesfocus.com published: “Cass Information Systems, Inc (NASDAQ:CASS) Reports Basic Consolidated EPS At …” on November 11, 2016. More interesting news about Cass Information Systems (NASDAQ:CASS) were released by: Stltoday.com and their article: “Cass Information Systems reports higher 4Q profit” published on January 29, 2015 as well as Reuters.com‘s news article titled: “BRIEF-Cass Information Systems qtrly revenues $31.6 mln vs $30.6 mln” with publication date: October 20, 2016.
CASS Company Profile
Cass Information Systems, Inc. (Cass), incorporated on July 1, 1982, is a well-known 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 Firm provides transportation invoice rating, payment processing, auditing, accounting and transportation information. It is also a processor and payer of energy invoices, including electricity, gas, waste, and other facility related expenses. The Firm operates in two divisions: Information Services and Banking Services. The Information Services segment provides transportation, energy, telecommunication, and environmental invoice processing and payment services to large firms. The Banking Services segment provides banking services primarily to privately held businesses and churches. The Company, through its bank subsidiary, Cass Commercial Bank (the Bank), provides commercial banking services.
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