CSG Systems International, Inc. (CSGS) Stake Cut by Third Avenue Management LLC
Third Avenue Management LLC cut its stake in CSG Systems International, Inc. (NASDAQ:CSGS) by 0.4% during the fourth quarter, Holdings Channel reports. The firm owned 67,198 shares of the company’s stock after selling 269 shares during the period. Third Avenue Management LLC owned about 0.22% of CSG Systems International worth $3,252,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CSGS. Elkfork Partners LLC purchased a new position in CSG Systems International during the fourth quarter valued at approximately $102,000. Municipal Employees Retirement System of Michigan boosted 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 valued at $298,000 after buying an additional 120 shares during the period. SG Americas Securities LLC purchased a new position in CSG Systems International during the third quarter valued at approximately $350,000. Alps Advisors Inc. boosted its position in CSG Systems International by 9.0% in the third quarter. Alps Advisors Inc. now owns 10,981 shares of the company’s stock valued at $454,000 after buying an additional 906 shares during the period. Finally, Jensen Investment Management Inc. boosted its position in CSG Systems International by 17.5% in the third quarter. Jensen Investment Management Inc. now owns 11,500 shares of the company’s stock valued at $475,000 after buying an additional 1,710 shares during the period. Hedge funds and other institutional investors own 96.73% of the company’s stock.
CSG Systems International, Inc. (NASDAQ:CSGS) traded up 1.36% on Thursday, hitting $40.11. 335,737 shares of the stock traded hands. CSG Systems International, Inc. has a 12-month low of $35.51 and a 12-month high of $51.34. The stock has a 50-day moving average price of $46.48 and a 200 day moving average price of $43.54. The stock has a market cap of $1.25 billion, a P/E ratio of 21.11 and a beta of 0.86.
CSG Systems International (NASDAQ:CSGS) last released its quarterly earnings data on Wednesday, February 1st. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by $0.07. The business had revenue of $195.20 million for the quarter, compared to the consensus estimate of $193.21 million. CSG Systems International had a return on equity of 32.27% and a net margin of 8.26%. CSG Systems International’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 earnings per share. On average, equities analysts expect that CSG Systems International, Inc. will post $2.39 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Wednesday, March 15th will be issued a dividend of $0.1975 per share. This represents a $0.79 dividend on an annualized basis and a dividend yield of 1.97%. This is an increase from CSG Systems International’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, March 13th. CSG Systems International’s dividend payout ratio (DPR) is presently 38.95%.
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Separately, Zacks Investment Research upgraded shares of CSG Systems International from a “sell” rating to a “hold” rating in a research report on Tuesday, November 8th.
In other news, EVP Kenneth M. Kennedy sold 1,516 shares of the firm’s stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $47.81, for a total transaction of $72,479.96. Following the completion of the transaction, the executive vice president now directly owns 32,659 shares of the company’s stock, valued at approximately $1,561,426.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rolland B. Johns sold 2,494 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $42.14, for a total transaction of $105,097.16. Following the transaction, the insider now directly owns 19,618 shares of the company’s stock, valued at $826,702.52. The disclosure for this sale can be found here. Insiders have sold a total of 9,310 shares of company stock valued at $422,132 over the last ninety days. 3.25% of the stock is owned by insiders.
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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