Wells Fargo & Company Forecasts Strong Price Appreciation for CSG Systems International (NASDAQ:CSGS) Stock

CSG Systems International (NASDAQ:CSGS) had its target price upped by Wells Fargo & Company from $51.00 to $65.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 0.95% from the company’s current price.

CSGS has been the subject of several other reports. Benchmark reaffirmed a “buy” rating and issued a $75.00 price objective on shares of CSG Systems International in a research report on Tuesday, November 5th. StockNews.com cut shares of CSG Systems International from a “strong-buy” rating to a “buy” rating in a report on Thursday. Northland Securities reissued an “outperform” rating and set a $80.00 price objective (up from $78.00) on shares of CSG Systems International in a report on Thursday. Royal Bank of Canada raised their target price on CSG Systems International from $52.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald lifted their price target on CSG Systems International from $64.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.17.

CSG Systems International Price Performance

Shares of CSGS opened at $64.39 on Thursday. The company has a 50 day moving average of $53.75 and a two-hundred day moving average of $50.33. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.84. CSG Systems International has a twelve month low of $39.56 and a twelve month high of $65.53. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 28.37, a price-to-earnings-growth ratio of 1.61 and a beta of 0.89.

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 analysts’ consensus estimates of $1.20 by $0.20. CSG Systems International had a return on equity of 32.77% and a net margin of 5.52%. As a group, analysts predict that CSG Systems International will post 3.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CSG Systems International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. River Road Asset Management LLC boosted its stake in shares of 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 worth $5,355,000 after buying an additional 16,519 shares during the last quarter. Amundi grew its stake in shares of CSG Systems International by 1.0% during the 4th quarter. Amundi now owns 18,027 shares of the technology company’s stock worth $910,000 after purchasing an additional 179 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of CSG Systems International by 15.9% in the 4th quarter. Handelsbanken Fonder AB now owns 8,030 shares of the technology company’s stock valued at $410,000 after purchasing an additional 1,100 shares during the period. New York State Common Retirement Fund lifted its stake in shares of CSG Systems International by 3.1% in the 4th quarter. New York State Common Retirement Fund now owns 169,880 shares of the technology company’s stock valued at $8,683,000 after purchasing an additional 5,034 shares during the period. Finally, Polaris Capital Management LLC boosted its holdings in CSG Systems International by 10.7% during the fourth quarter. Polaris Capital Management LLC now owns 33,000 shares of the technology company’s stock worth $1,687,000 after buying an additional 3,200 shares in the last quarter. 91.07% of the stock is owned by institutional investors and hedge funds.

CSG Systems International Company 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.