CSG Systems International, Inc. (NASDAQ:CSGS) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in CSG Systems International, Inc. (NASDAQ:CSGS) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,698 shares of the technology company’s stock after selling 1,239 shares during the quarter. Corebridge Financial Inc. owned approximately 0.05% of CSG Systems International worth $802,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new stake in shares of CSG Systems International during the 4th quarter worth about $925,000. Hillsdale Investment Management Inc. purchased a new position in CSG Systems International during the fourth quarter worth approximately $4,222,000. River Road Asset Management LLC grew its holdings in CSG Systems International by 18.7% in the fourth quarter. River Road Asset Management LLC now owns 104,783 shares of the technology company’s stock valued at $5,355,000 after purchasing an additional 16,519 shares during the period. Amundi increased its position in shares of CSG Systems International by 1.0% in the fourth quarter. Amundi now owns 18,027 shares of the technology company’s stock valued at $910,000 after buying an additional 179 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in shares of 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. Hedge funds and other institutional investors own 91.07% of the company’s stock.

CSG Systems International Stock Performance

Shares of CSG Systems International stock opened at $57.36 on Friday. The business’s 50 day moving average price is $61.77 and its 200 day moving average price is $54.92. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 1.68 and a beta of 0.91. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.58 and a current ratio of 1.46. CSG Systems International, Inc. has a one year low of $39.56 and a one year high of $67.60.

CSG Systems International (NASDAQ:CSGS) last posted its quarterly earnings results on Wednesday, February 5th. The technology company reported $1.40 EPS 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, research analysts predict that CSG Systems International, Inc. will post 3.83 EPS for the current year.

CSG Systems International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.23%. This is an increase from CSG Systems International’s previous quarterly dividend of $0.30. CSG Systems International’s dividend payout ratio (DPR) is currently 42.11%.

Analyst Upgrades and Downgrades

CSGS has been the subject of a number of research reports. Northland Securities restated an “outperform” rating and set a $80.00 price target (up previously from $78.00) on shares of CSG Systems International in a research report on Thursday, February 6th. Stifel Nicolaus increased their target price on CSG Systems International from $60.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Royal Bank of Canada raised their target price on CSG Systems International from $58.00 to $69.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company boosted their price target on CSG Systems International from $51.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Jefferies Financial Group initiated coverage on CSG Systems International in a report on Friday, February 21st. They issued a “buy” rating and a $75.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.71.

Insider Transactions at CSG Systems International

In related news, Director Ronald Cooper sold 9,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 41,561 shares of the company’s stock, valued at approximately $2,768,793.82. This trade represents a 17.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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.