Municipal Employees Retirement System of Michigan Buys 4,700 Shares of CSG Systems International, Inc. (CSGS)
Municipal Employees Retirement System of Michigan grew its stake in CSG Systems International, Inc. (NASDAQ:CSGS) by 58.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,680 shares of the technology company’s stock after purchasing an additional 4,700 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in CSG Systems International were worth $508,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Pinebridge Investments L.P. raised its stake in shares of CSG Systems International by 3.9% during the 2nd quarter. Pinebridge Investments L.P. now owns 4,452 shares of the technology company’s stock worth $180,000 after buying an additional 168 shares during the period. Airain ltd acquired a new position in shares of CSG Systems International during the 2nd quarter worth approximately $215,000. Hikari Power Ltd acquired a new position in shares of CSG Systems International during the 2nd quarter worth approximately $217,000. Crossmark Global Holdings Inc. acquired a new position in shares of CSG Systems International during the 3rd quarter worth approximately $252,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of CSG Systems International during the 2nd quarter worth approximately $296,000. Institutional investors and hedge funds own 91.31% of the company’s stock.
In related news, Director Ronald Cooper sold 5,000 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $44.72, for a total value of $223,600.00. Following the completion of the transaction, the director now directly owns 29,768 shares of the company’s stock, valued at approximately $1,331,224.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Rolland B. Johns sold 2,494 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $44.19, for a total value of $110,209.86. Following the completion of the sale, the insider now directly owns 14,556 shares of the company’s stock, valued at $643,229.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,397 shares of company stock valued at $420,739. 2.57% of the stock is owned by corporate insiders.
Several research analysts have recently weighed in on the company. Zacks Investment Research downgraded CSG Systems International from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $47.00 target price on shares of CSG Systems International in a research note on Friday, November 3rd.
CSG Systems International, Inc. (NASDAQ:CSGS) opened at $44.20 on Wednesday. CSG Systems International, Inc. has a 52 week low of $35.48 and a 52 week high of $51.34. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $1,495.82, a price-to-earnings ratio of 22.31 and a beta of 1.02.
CSG Systems International (NASDAQ:CSGS) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.01. CSG Systems International had a return on equity of 22.11% and a net margin of 7.57%. The firm had revenue of $199.20 million during the quarter, compared to the consensus estimate of $194.67 million. During the same period in the prior year, the company earned $0.75 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. equities analysts predict that CSG Systems International, Inc. will post 2.1 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Tuesday, December 5th will be paid a $0.1975 dividend. This represents a $0.79 annualized dividend and a yield of 1.79%. The ex-dividend date is Monday, December 4th. CSG Systems International’s dividend payout ratio is currently 44.13%.
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CSG Systems International Company 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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