CSG Systems International Inc. (CSGS) Upgraded by Zacks Investment Research to “Buy”
CSG Systems International Inc. (NASDAQ:CSGS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $49.00 price target on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 12.15% from the stock’s previous close.
According to Zacks, “CSG Systems International Inc. is a leading provider of outsourced billing, customer care and print and mail solutions and services supporting the North American cable and direct broadcast satellite markets. CSG’s solutions support some of the world’s largest and most innovative providers of bundled multi-channel video, Internet, voice and IP-based services. CSG’s unique combination of solutions, services and expertise ensure that cable and satellite operators can continue to rapidly launch new service offerings, improve operational efficiencies and deliver a high-quality customer experience in a competitive and ever-changing marketplace. “
Separately, Stifel Nicolaus reduced their price objective on shares of CSG Systems International from $49.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, September 22nd.
CSG Systems International (NASDAQ:CSGS) traded up 2.13% during midday trading on Tuesday, hitting $43.69. 163,507 shares of the stock were exchanged. The firm has a market capitalization of $1.35 billion, a P/E ratio of 19.69 and a beta of 0.81. The firm’s 50-day moving average price is $40.00 and its 200 day moving average price is $41.33. CSG Systems International has a 1-year low of $32.45 and a 1-year high of $46.54.
CSG Systems International (NASDAQ:CSGS) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.19. CSG Systems International had a net margin of 9.68% and a return on equity of 34.24%. The business earned $189.30 million during the quarter, compared to the consensus estimate of $186.75 million. During the same period in the prior year, the firm posted $0.72 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. Analysts expect that CSG Systems International will post $2.86 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 22nd. Stockholders of record on Wednesday, December 7th will be given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, December 5th. CSG Systems International’s dividend payout ratio is currently 33.33%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PineBridge Investments L.P. increased its position in CSG Systems International by 3.0% in the second quarter. PineBridge Investments L.P. now owns 4,114 shares of the company’s stock worth $166,000 after buying an additional 119 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in CSG Systems International by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,200 shares of the company’s stock worth $298,000 after buying an additional 120 shares in the last quarter. Arizona State Retirement System increased its position in CSG Systems International by 1.2% in the second quarter. Arizona State Retirement System now owns 16,858 shares of the company’s stock worth $680,000 after buying an additional 200 shares in the last quarter. Capstone Asset Management Co. increased its position in CSG Systems International by 2.4% in the second quarter. Capstone Asset Management Co. now owns 9,973 shares of the company’s stock worth $402,000 after buying an additional 230 shares in the last quarter. Finally, Blair William & Co. IL increased its position in CSG Systems International by 3.7% in the second quarter. Blair William & Co. IL now owns 9,418 shares of the company’s stock worth $380,000 after buying an additional 333 shares in the last quarter. 98.52% of the stock is owned by hedge funds and other institutional investors.
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CSG Systems International Company Profile
CSG Systems International, Inc is a provider of business support solutions primarily serving the communications industry. The Company’s solutions coordinate and manage various aspects of service providers’ customer interactions, from the activation of customer accounts, to the support of various service activities, and through the presentment, collection and accounts receivables management of monthly customer statements.
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