Zacks Investment Research Upgrades CSG Systems International, Inc. (CSGS) to “Hold”
CSG Systems International, Inc. (NASDAQ:CSGS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.
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. “
Several other equities analysts have also recently weighed in on the stock. BidaskClub cut shares of CSG Systems International from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $47.00 price target on shares of CSG Systems International in a research note on Monday, July 10th.
CSG Systems International (CSGS) traded up 0.20% during mid-day trading on Friday, reaching $38.59. 65,756 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $39.71 and a 200 day moving average price of $39.30. The company has a market cap of $1.25 billion, a PE ratio of 20.31 and a beta of 1.09. CSG Systems International has a 52-week low of $35.48 and a 52-week high of $51.34.
CSG Systems International (NASDAQ:CSGS) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. The company had revenue of $192.70 million during the quarter, compared to analysts’ expectations of $194.58 million. CSG Systems International had a net margin of 8.10% and a return on equity of 24.76%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $0.70 EPS. Equities analysts predict that CSG Systems International will post $2.52 earnings per share for the current fiscal year.
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In other news, insider Rolland B. Johns sold 1,099 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $39.07, for a total transaction of $42,937.93. Following the completion of the transaction, the insider now directly owns 16,574 shares of the company’s stock, valued at approximately $647,546.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donald Reed sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $41.53, for a total transaction of $207,650.00. Following the transaction, the director now directly owns 40,868 shares of the company’s stock, valued at $1,697,248.04. The disclosure for this sale can be found here. Insiders have sold a total of 9,099 shares of company stock valued at $363,688 over the last ninety days. Company insiders own 2.57% of the company’s stock.
Several institutional investors have recently modified their holdings of CSGS. Piedmont Investment Advisors LLC bought a new stake in CSG Systems International during the second quarter valued at approximately $296,000. State Street Corp increased its stake in CSG Systems International by 12.1% in the second quarter. State Street Corp now owns 872,146 shares of the technology company’s stock valued at $35,389,000 after buying an additional 94,287 shares during the last quarter. Prudential PLC bought a new stake in CSG Systems International during the second quarter valued at approximately $8,173,000. Parametric Portfolio Associates LLC increased its stake in CSG Systems International by 12.7% in the second quarter. Parametric Portfolio Associates LLC now owns 119,399 shares of the technology company’s stock valued at $4,845,000 after buying an additional 13,441 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in CSG Systems International by 19.9% in the second quarter. California Public Employees Retirement System now owns 17,500 shares of the technology company’s stock valued at $710,000 after buying an additional 2,900 shares during the last quarter. 91.17% of the stock is owned by institutional investors.
About CSG Systems International
CSG Systems International, Inc (CSG) is a provider of business support solutions primarily serving the communications industry. The Company provides business support solutions (BSS) to the communications service providers (CSPs), as well as clients in various industries. CSG’s solutions coordinate and manage various aspects of a service provider’s customer interactions, from the initial activation of customer accounts, to the support and fulfillment of various services, and through the calculation, presentment, and accounts receivables management of monthly customer statements.
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