CSG Systems International (NASDAQ:CSGS) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of CSG Systems International (NASDAQ:CSGS) from a buy rating to a strong-buy rating in a report issued on Friday.

A number of other brokerages have also recently weighed in on CSGS. Cantor Fitzgerald upped their price objective on shares of CSG Systems International from $62.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $75.00 price target on shares of CSG Systems International in a research report on Tuesday, November 5th. Wells Fargo & Company raised their price objective on CSG Systems International from $43.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their price objective on CSG Systems International from $52.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, CSG Systems International presently has a consensus rating of “Buy” and a consensus price target of $61.60.

CSG Systems International Stock Performance

CSG Systems International stock remained flat at $54.48 during trading hours on Friday. The company’s stock had a trading volume of 203,990 shares, compared to its average volume of 267,492. CSG Systems International has a fifty-two week low of $39.56 and a fifty-two week high of $57.15. The business’s 50 day moving average price is $48.87 and its 200-day moving average price is $45.42. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $1.58 billion, a P/E ratio of 24.00, a PEG ratio of 1.59 and a beta of 0.82.

CSG Systems International (NASDAQ:CSGS) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. The company had revenue of $295.14 million for the quarter, compared to analyst estimates of $283.13 million. CSG Systems International had a return on equity of 32.77% and a net margin of 5.52%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share. On average, sell-side analysts expect that CSG Systems International will post 3.48 earnings per share for the current fiscal year.

CSG Systems International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.30 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.20%. CSG Systems International’s payout ratio is currently 52.86%.

Institutional Trading of CSG Systems International

Several institutional investors have recently added to or reduced their stakes in CSGS. Boston Trust Walden Corp lifted its holdings in shares of CSG Systems International by 18.9% during the second quarter. Boston Trust Walden Corp now owns 983,688 shares of the technology company’s stock valued at $40,498,000 after purchasing an additional 156,222 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of CSG Systems International by 116.2% during the 1st quarter. Lazard Asset Management LLC now owns 53,332 shares of the technology company’s stock valued at $2,748,000 after acquiring an additional 28,666 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of CSG Systems International in the third quarter worth approximately $840,000. Bank of New York Mellon Corp raised its holdings in shares of CSG Systems International by 30.5% during the second quarter. Bank of New York Mellon Corp now owns 744,837 shares of the technology company’s stock valued at $30,665,000 after purchasing an additional 173,944 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its position in CSG Systems International by 23.2% during the second quarter. Wedge Capital Management L L P NC now owns 28,916 shares of the technology company’s stock valued at $1,190,000 after purchasing an additional 5,451 shares during the period. 91.07% of the stock is currently owned by hedge funds and other institutional investors.

About CSG Systems International

CSG Systems International, Inc, together with its subsidiaries, provides revenue management and digital monetization, customer experience, and payment solutions primarily to the communications industry in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers Advanced Convergent Platform, a private SaaS platform; and related solutions, including service technician management, analytics, electronic bill presentment, etc.