CSG Systems International, Inc. (CSGS) Position Maintained by Third Avenue Management LLC
Third Avenue Management LLC continued to hold its stake in CSG Systems International, Inc. (NASDAQ:CSGS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,198 shares of the technology company’s stock at the close of the 2nd quarter. Third Avenue Management LLC owned 0.21% of CSG Systems International worth $2,727,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. LSV Asset Management increased its position in CSG Systems International by 1.3% during the 2nd quarter. LSV Asset Management now owns 1,429,188 shares of the technology company’s stock worth $57,996,000 after purchasing an additional 18,600 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in CSG Systems International by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 971,982 shares of the technology company’s stock valued at $39,444,000 after buying an additional 24,472 shares during the period. State Street Corp lifted its position in CSG Systems International by 6.6% during the first quarter. State Street Corp now owns 777,859 shares of the technology company’s stock valued at $29,407,000 after buying an additional 48,447 shares in the last quarter. Geode Capital Management LLC lifted its position in CSG Systems International by 13.7% during the first quarter. Geode Capital Management LLC now owns 448,882 shares of the technology company’s stock valued at $16,972,000 after buying an additional 54,141 shares in the last quarter. Finally, Teachers Advisors LLC lifted its position in CSG Systems International by 359.2% during the second quarter. Teachers Advisors LLC now owns 338,291 shares of the technology company’s stock valued at $13,728,000 after buying an additional 264,627 shares in the last quarter. 91.15% of the stock is owned by hedge funds and other institutional investors.
In other CSG Systems International news, Director Frank V. Sica sold 3,000 shares of CSG Systems International stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $37.70, for a total value of $113,100.00. Following the transaction, the director now directly owns 21,550 shares of the company’s stock, valued at approximately $812,435. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Rolland B. Johns sold 1,099 shares of CSG Systems International stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $39.07, for a total value of $42,937.93. Following the completion of the transaction, the insider now directly owns 16,574 shares in the company, valued at $647,546.18. The disclosure for this sale can be found here. 2.57% of the stock is currently owned by insiders.
Several research firms have issued reports on CSGS. Zacks Investment Research upgraded shares of CSG Systems International from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub lowered shares of CSG Systems International from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $47.00 price objective on shares of CSG Systems International in a research report on Monday, July 10th.
Shares of CSG Systems International, Inc. (NASDAQ CSGS) traded up 0.27% during mid-day trading on Monday, reaching $40.21. The company had a trading volume of 19,361 shares. CSG Systems International, Inc. has a 52-week low of $35.48 and a 52-week high of $51.34. The company’s 50-day moving average is $38.47 and its 200 day moving average is $39.17. The stock has a market capitalization of $1.30 billion, a P/E ratio of 21.16 and a beta of 1.05.
CSG Systems International (NASDAQ:CSGS) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.01. CSG Systems International had a net margin of 8.10% and a return on equity of 24.76%. The company had revenue of $192.70 million for the quarter, compared to analyst estimates of $194.58 million. During the same quarter in the prior year, the business posted $0.70 EPS. CSG Systems International’s quarterly revenue was up 1.3% on a year-over-year basis. Analysts anticipate that CSG Systems International, Inc. will post $2.52 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 21st. Stockholders of record on Wednesday, September 6th were paid a $0.1975 dividend. This represents a $0.79 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Friday, September 1st. CSG Systems International’s payout ratio is 41.58%.
CSG Systems International Profile
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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