CSG Systems International, Inc. (CSGS) Rating Increased to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of CSG Systems International, Inc. (NASDAQ:CSGS) from a sell rating to a hold rating in a research report sent to investors on Tuesday.
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. “
Other equities analysts have also issued reports about the company. Stifel Nicolaus reaffirmed a buy rating and issued a $47.00 target price on shares of CSG Systems International in a report on Monday, July 10th. BidaskClub lowered CSG Systems International from a sell rating to a strong sell rating in a report on Thursday, August 3rd.
Shares of CSG Systems International (NASDAQ CSGS) traded down 0.95% on Tuesday, hitting $40.58. The stock had a trading volume of 158,339 shares. The company has a 50-day moving average of $38.75 and a 200 day moving average of $39.28. CSG Systems International has a 52 week low of $35.48 and a 52 week high of $51.34. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 21.36 and a beta of 1.05.
CSG Systems International (NASDAQ:CSGS) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. The firm had revenue of $192.70 million during the quarter, compared to the consensus estimate of $194.58 million. CSG Systems International had a return on equity of 24.76% and a net margin of 8.10%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 earnings per share. On average, equities research analysts predict that CSG Systems International will post $2.52 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Thursday, September 21st. Stockholders of record on Wednesday, September 6th were issued a $0.1975 dividend. This represents a $0.79 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Friday, September 1st. CSG Systems International’s dividend payout ratio is presently 41.58%.
In other news, insider Rolland B. Johns sold 1,099 shares of the company’s 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 of the company’s stock, valued at $647,546.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Frank V. Sica sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $37.70, for a total value of $113,100.00. Following the completion of the transaction, the director now directly owns 21,550 shares of the company’s stock, valued at $812,435. The disclosure for this sale can be found here. Corporate insiders own 2.57% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. LSV Asset Management grew its holdings in shares of CSG Systems International by 1.3% in the second quarter. LSV Asset Management now owns 1,429,188 shares of the technology company’s stock valued at $57,996,000 after acquiring an additional 18,600 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of 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 acquiring an additional 24,472 shares in the last quarter. State Street Corp grew its holdings in shares of 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 acquiring an additional 94,287 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of CSG Systems International by 13.7% in the first quarter. Geode Capital Management LLC now owns 448,882 shares of the technology company’s stock valued at $16,972,000 after acquiring an additional 54,141 shares in the last quarter. Finally, Teachers Advisors LLC grew its holdings in shares of CSG Systems International by 359.2% in the second quarter. Teachers Advisors LLC now owns 338,291 shares of the technology company’s stock valued at $13,728,000 after acquiring an additional 264,627 shares in the last quarter. 91.15% 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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