Geode Capital Management LLC Grows Stake in CSG Systems International, Inc. (NASDAQ:CSGS)

Geode Capital Management LLC increased its holdings in shares of CSG Systems International, Inc. (NASDAQ:CSGS) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 678,994 shares of the technology company’s stock after purchasing an additional 4,903 shares during the quarter. Geode Capital Management LLC owned approximately 2.33% of CSG Systems International worth $33,039,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of CSG Systems International by 30.5% during 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. Dean Investment Associates LLC raised its stake in CSG Systems International by 116.1% during the 3rd quarter. Dean Investment Associates LLC now owns 119,248 shares of the technology company’s stock worth $5,801,000 after acquiring an additional 64,066 shares in the last quarter. Martingale Asset Management L P purchased a new stake in CSG Systems International in the third quarter valued at $866,000. SG Americas Securities LLC acquired a new position in CSG Systems International in the third quarter valued at $840,000. Finally, Quantbot Technologies LP purchased a new position in shares of CSG Systems International during the third quarter worth about $294,000. 91.07% of the stock is owned by institutional investors and hedge funds.

CSG Systems International Trading Up 1.2 %

Shares of CSGS stock opened at $51.67 on Thursday. The company has a market capitalization of $1.50 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 1.57 and a beta of 0.86. 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 business’s 50 day moving average is $52.27 and its two-hundred day moving average is $47.61. CSG Systems International, Inc. has a twelve month low of $39.56 and a twelve month high of $57.15.

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

CSG Systems International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Wednesday, December 18th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Wednesday, December 18th. CSG Systems International’s dividend payout ratio is currently 52.86%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CSGS. StockNews.com downgraded CSG Systems International from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. Royal Bank of Canada boosted 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. Benchmark restated a “buy” rating and set a $75.00 target price on shares of CSG Systems International in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company upped their price target on shares of 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. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

CSG Systems International Company Profile

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.