CSG Systems International (NASDAQ:CSGS) Sets New 12-Month High After Analyst Upgrade

CSG Systems International, Inc. (NASDAQ:CSGS)’s stock price reached a new 52-week high on Thursday after Royal Bank of Canada raised their price target on the stock from $52.00 to $58.00. Royal Bank of Canada currently has an outperform rating on the stock. CSG Systems International traded as high as $56.17 and last traded at $55.73, with a volume of 226265 shares trading hands. The stock had previously closed at $51.09.

Several other brokerages also recently weighed in on CSGS. Wells Fargo & Company upped their target price on shares of CSG Systems International from $43.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday. Benchmark reissued a “buy” rating and issued a $75.00 price objective on shares of CSG Systems International in a research report on Tuesday. Cantor Fitzgerald lifted their target price on CSG Systems International from $62.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, StockNews.com upgraded CSG Systems International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.60.

Hedge Funds Weigh In On CSG Systems International

A number of hedge funds have recently bought and sold shares of the company. LSV Asset Management lifted its stake in CSG Systems International by 2.1% during the first quarter. LSV Asset Management now owns 1,438,395 shares of the technology company’s stock worth $74,135,000 after purchasing an additional 29,723 shares during the last quarter. Boston Trust Walden Corp raised 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 worth $40,498,000 after purchasing an additional 156,222 shares during the period. Bank of New York Mellon Corp lifted its position in shares of CSG Systems International by 30.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 744,837 shares of the technology company’s stock worth $30,665,000 after buying an additional 173,944 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of CSG Systems International by 116.2% in the 1st quarter. Lazard Asset Management LLC now owns 53,332 shares of the technology company’s stock valued at $2,748,000 after buying an additional 28,666 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of CSG Systems International by 3.7% during the 1st quarter. BNP Paribas Financial Markets now owns 46,549 shares of the technology company’s stock valued at $2,399,000 after buying an additional 1,644 shares during the last quarter. 91.07% of the stock is currently owned by institutional investors and hedge funds.

CSG Systems International Trading Up 9.5 %

The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.95. The firm’s 50 day moving average is $47.94 and its two-hundred day moving average is $45.15. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 1.39 and a beta of 0.82.

CSG Systems International (NASDAQ:CSGS) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.11. The business had revenue of $290.30 million for the quarter, compared to analysts’ expectations of $269.60 million. CSG Systems International had a return on equity of 33.18% and a net margin of 5.53%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 EPS. Equities analysts anticipate that CSG Systems International, Inc. will post 3.43 EPS for the current 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 of this dividend was Friday, September 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.15%. CSG Systems International’s dividend payout ratio (DPR) is presently 54.05%.

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.