Wells Fargo & Company Increases CSG Systems International (NASDAQ:CSGS) Price Target to $51.00

CSG Systems International (NASDAQ:CSGS) had its target price increased by Wells Fargo & Company from $43.00 to $51.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

Several other equities research analysts have also recently commented on CSGS. StockNews.com upgraded shares of CSG Systems International from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada cut their price objective on CSG Systems International from $61.00 to $52.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Cantor Fitzgerald increased their price objective on CSG Systems International from $62.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Benchmark reissued a “buy” rating and issued a $75.00 target price on shares of CSG Systems International in a report on Tuesday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, CSG Systems International has a consensus rating of “Moderate Buy” and an average price target of $61.60.

CSG Systems International Price Performance

CSG Systems International stock traded down $0.35 during mid-day trading on Thursday, hitting $55.58. 375,746 shares of the company were exchanged, compared to its average volume of 268,823. CSG Systems International has a 12-month low of $39.56 and a 12-month high of $57.15. The company has a market capitalization of $1.64 billion, a P/E ratio of 25.23, a PEG ratio of 1.39 and a beta of 0.82. The business’s 50 day simple moving average is $47.94 and its two-hundred day simple moving average is $45.15. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.59 and a quick ratio of 1.59.

CSG Systems International (NASDAQ:CSGS) last issued its earnings results on Wednesday, August 7th. The technology company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.11. CSG Systems International had a return on equity of 33.18% and a net margin of 5.53%. The firm had revenue of $290.30 million for the quarter, compared to analyst estimates of $269.60 million. During the same period last year, the company earned $0.61 earnings per share. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. Analysts forecast that CSG Systems International will post 3.43 earnings per share for the current fiscal year.

CSG Systems International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Friday, September 13th. CSG Systems International’s dividend payout ratio is presently 54.05%.

Institutional Investors Weigh In On CSG Systems International

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Boston Trust Walden Corp increased its holdings in shares of CSG Systems International by 18.9% during the 2nd quarter. Boston Trust Walden Corp now owns 983,688 shares of the technology company’s stock worth $40,498,000 after acquiring an additional 156,222 shares during the last quarter. LSV Asset Management lifted its position in CSG Systems International by 2.1% in the 1st quarter. LSV Asset Management now owns 1,438,395 shares of the technology company’s stock valued at $74,135,000 after acquiring an additional 29,723 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of CSG Systems International by 116.2% in the first quarter. Lazard Asset Management LLC now owns 53,332 shares of the technology company’s stock worth $2,748,000 after purchasing an additional 28,666 shares during the last quarter. SG Americas Securities LLC purchased a new stake in CSG Systems International in the 3rd quarter valued at $840,000. Finally, Quantbot Technologies LP grew its stake in shares of CSG Systems International by 31.8% in the 1st quarter. Quantbot Technologies LP now owns 19,037 shares of the technology company’s stock worth $981,000 after acquiring an additional 4,590 shares in the last quarter. Institutional investors own 91.07% of the company’s stock.

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.