Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.00, read 2026-11-04
Ethical does not pass the values gate
Price54.31 USD
Fair value56.00
Ethical score70.0/100
Value readFairas of 5 Nov 2026
Our investment reviews on this name
2026-10-29Read Markup53.87+0.8% to today ✓Markdown gives way to Markup
2026-10-02Read Markdown55.09-1.4% to today ✓Accumulation gives way to Markdown first Markdown read since July
2026-08-24Read Accumulation53.32+1.9% to today ✓Markdown gives way to Accumulation after an 8% rise in 8 weeks
2026-07-02Read Markdown49.45+9.8% to today First review on file: Markdown
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Cass Information Systems Inc holds its Markup at $54.31. The statistical read favours the sellers, held for 76 days.
As held on the ledger · 2026-11-05
Phase
Markup
Quantitative state
The statistical read favours the sellers, held for 76 days
Price at the screen
$54.31
Valuation
23.54 trailing · 15.97 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.44
The Workings
Five Screens, Shown in Full
Does not pass. Revenue purity
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
29.32%
Below 33%
Cash held in interest-bearing accounts and securities is 29.3% of assets, under the one-third limit.
Pass
Receivables
17.72%
Below 49%
Money owed to the company is 17.7% of assets, under the 49% limit.
Pass
Revenue purity
53.74%
Below 5%
53.7% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Cass Information Systems clears the business-activity screen. Where it falls short is income purity: around 54% of its income right now is interest earned on a large cash position, against a roughly 5% ceiling, so it does not pass. That reflects what it earns today, not the business itself, and it could clear the screen if its operating revenue grows and the interest share falls.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Fair vs our fair value, as of 5 Nov 2026: it trades at roughly a 2% discount to our $56.00 fair value, none competitive moat, 3.20% revenue growth.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. A 3.0% discount to the base estimate.
Where our models see it going: fair-value estimate $56.00, with a range of $51.75 to $86.25, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Why it is worth knowing
A quality business: a none moat and 17% profit margins. It trades close to our $56.00 fair value, so the easy discount is gone; you would be paying up for the quality.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
CASS trades on NASDAQ. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-05Markup$55.03+2.2%Entry 17
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 2.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 13% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (2 analysts) rates it buy, with a mean price target of $52.
2026-10-29Markup · changed$53.87-0.8%Entry 16
The framework has shifted from markdown to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 13% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (2 analysts) rates it buy, with a mean price target of $52.
2026-10-22Markdown$54.29+0.0%Entry 15
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 13% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (2 analysts) rates it buy, with a mean price target of $52. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-21Markdown$54.29+0.0%Entry 14
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 13% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (2 analysts) rates it buy, with a mean price target of $52. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-20Markdown$54.29+0.0%Entry 13
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 13% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (2 analysts) rates it buy, with a mean price target of $52. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-19Markdown$54.29+0.0%Entry 12
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 13% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (2 analysts) rates it buy, with a mean price target of $52. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-18Markdown$54.29+0.0%Entry 11
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 10% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (2 analysts) rates it buy, with a mean price target of $52. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-17Markdown$54.29+0.0%Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 10% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (2 analysts) rates it buy, with a mean price target of $52. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-16Markdown$54.29+1.7%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 1.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 10% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (2 analysts) rates it buy, with a mean price target of $52. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-15Markdown$53.40+0.0%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 10% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 18%. The street (2 analysts) rates it buy, with a mean price target of $52. It reported earnings in this window, a natural checkpoint for the thesis.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.