CSG Systems International (NASDAQ:CSGS) Price Target Raised to $69.00

CSG Systems International (NASDAQ:CSGS) had its price target raised by investment analysts at Royal Bank of Canada from $58.00 to $69.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 6.38% from the stock’s previous close.

CSGS has been the subject of several other reports. Benchmark reiterated a “buy” rating and set a $75.00 price objective on shares of CSG Systems International in a research note on Tuesday, November 5th. Stifel Nicolaus lifted their price objective on shares of CSG Systems International from $60.00 to $66.00 and gave the company a “buy” rating in a report on Thursday. Northland Securities reaffirmed an “outperform” rating and issued a $80.00 price objective (up previously from $78.00) on shares of CSG Systems International in a report on Thursday. Wells Fargo & Company lifted their price objective on shares of CSG Systems International from $51.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, StockNews.com cut shares of CSG Systems International from a “strong-buy” rating to a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, CSG Systems International has a consensus rating of “Moderate Buy” and an average price target of $71.17.

CSG Systems International Trading Up 5.2 %

CSG Systems International stock traded up $3.20 during midday trading on Thursday, reaching $64.86. The stock had a trading volume of 231,480 shares, compared to its average volume of 264,865. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.84. CSG Systems International has a 52-week low of $39.56 and a 52-week high of $65.30. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of 1.61 and a beta of 0.89. The company has a fifty day moving average of $53.54 and a 200 day moving average of $50.23.

CSG Systems International (NASDAQ:CSGS) last released its quarterly earnings data on Wednesday, February 5th. The technology company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. CSG Systems International had a net margin of 5.52% and a return on equity of 32.77%. On average, analysts anticipate that CSG Systems International will post 3.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CSG Systems International

Institutional investors and hedge funds have recently bought and sold shares of the company. Independence Bank of Kentucky acquired a new position in CSG Systems International in the 4th quarter valued at about $80,000. TD Private Client Wealth LLC raised its stake in shares of CSG Systems International by 38.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 2,128 shares of the technology company’s stock valued at $104,000 after acquiring an additional 586 shares during the period. Quantbot Technologies LP purchased a new stake in shares of CSG Systems International in the 3rd quarter valued at approximately $294,000. Handelsbanken Fonder AB increased its stake in CSG Systems International by 15.9% during the 4th quarter. Handelsbanken Fonder AB now owns 8,030 shares of the technology company’s stock worth $410,000 after buying an additional 1,100 shares during the period. Finally, Cornercap Investment Counsel Inc. increased its stake in CSG Systems International by 39.8% during the 3rd quarter. Cornercap Investment Counsel Inc. now owns 10,538 shares of the technology company’s stock worth $513,000 after buying an additional 3,001 shares during the period. 91.07% of the stock is currently owned by institutional investors and hedge funds.

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.