Bank of New York Mellon Corp Has $34.42 Million Stock Position in CSG Systems International, Inc. (NASDAQ:CSGS)

Bank of New York Mellon Corp decreased its stake in CSG Systems International, Inc. (NASDAQ:CSGS) by 0.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 673,525 shares of the technology company’s stock after selling 5,546 shares during the quarter. Bank of New York Mellon Corp owned 2.32% of CSG Systems International worth $34,424,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cornercap Investment Counsel Inc. boosted its position 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 acquiring an additional 3,001 shares during the period. Quantbot Technologies LP acquired a new stake in CSG Systems International during the 3rd quarter worth about $294,000. Martingale Asset Management L P acquired a new stake in CSG Systems International during the 3rd quarter worth about $866,000. Dean Investment Associates LLC boosted its position 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 during the period. Finally, Geode Capital Management LLC boosted its position in CSG Systems International by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 678,994 shares of the technology company’s stock worth $33,039,000 after acquiring an additional 4,903 shares during the period. Institutional investors and hedge funds own 91.07% of the company’s stock.

CSG Systems International Stock Up 1.7 %

CSGS stock opened at $64.11 on Friday. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.46 and a quick ratio of 1.58. The stock has a market capitalization of $1.85 billion, a P/E ratio of 21.09, a P/E/G ratio of 1.68 and a beta of 0.85. The business has a 50-day moving average of $58.32 and a 200-day moving average of $53.01. CSG Systems International, Inc. has a fifty-two week low of $39.56 and a fifty-two week high of $67.60.

CSG Systems International (NASDAQ:CSGS) last posted its quarterly earnings data on Wednesday, February 5th. The technology company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.20. CSG Systems International had a return on equity of 39.42% and a net margin of 7.25%. On average, sell-side analysts anticipate that CSG Systems International, Inc. will post 3.83 earnings per share for the current fiscal year.

CSG Systems International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be given a dividend of $0.32 per share. The ex-dividend date is Wednesday, March 19th. This is a boost from CSG Systems International’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 2.00%. CSG Systems International’s dividend payout ratio is 42.11%.

Analysts Set New Price Targets

CSGS has been the subject of a number of recent research reports. Stifel Nicolaus raised their price target on CSG Systems International from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Northland Securities reaffirmed an “outperform” rating and set a $80.00 price target (up from $78.00) on shares of CSG Systems International in a research note on Thursday, February 6th. Wells Fargo & Company raised their price target on CSG Systems International from $51.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Cantor Fitzgerald raised their price target on CSG Systems International from $64.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, StockNews.com downgraded CSG Systems International from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $71.71.

Insider Activity at CSG Systems International

In related news, Director Ronald Cooper sold 9,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $66.62, for a total transaction of $599,580.00. Following the completion of the transaction, the director now directly owns 41,561 shares of the company’s stock, valued at approximately $2,768,793.82. This represents a 17.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.05% of the company’s stock.

CSG Systems International 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.