Stoneridge Investment Partners LLC reduced its stake in CSG Systems International, Inc. (NASDAQ:CSGS) by 49.6% during the second quarter, Holdings Channel reports. The firm owned 15,103 shares of the technology company’s stock after selling 14,835 shares during the period. Stoneridge Investment Partners LLC’s holdings in CSG Systems International were worth $613,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. River Road Asset Management LLC raised its position in CSG Systems International by 8.8% in the first quarter. River Road Asset Management LLC now owns 1,090,643 shares of the technology company’s stock valued at $41,237,000 after buying an additional 87,927 shares during the period. Schroder Investment Management Group raised its position in CSG Systems International by 8.8% in the first quarter. Schroder Investment Management Group now owns 889,318 shares of the technology company’s stock valued at $33,794,000 after buying an additional 71,849 shares during the period. Geode Capital Management LLC raised its position in 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 buying an additional 54,141 shares during the period. State Street Corp raised its position in CSG Systems International by 6.6% in the first quarter. State Street Corp now owns 777,859 shares of the technology company’s stock valued at $29,407,000 after buying an additional 48,447 shares during the period. Finally, LSV Asset Management raised its position in CSG Systems International by 2.2% in the first quarter. LSV Asset Management now owns 1,410,588 shares of the technology company’s stock valued at $53,334,000 after buying an additional 30,936 shares during the period. 94.57% of the stock is owned by hedge funds and other institutional investors.

Shares of CSG Systems International, Inc. (NASDAQ:CSGS) opened at 37.50 on Friday. The stock’s 50 day moving average is $40.81 and its 200 day moving average is $39.96. CSG Systems International, Inc. has a 12-month low of $35.48 and a 12-month high of $51.34. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 19.74 and a beta of 1.09.

CSG Systems International (NASDAQ:CSGS) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. The company had revenue of $192.70 million during the quarter, compared to analysts’ expectations of $194.58 million. CSG Systems International had a net margin of 8.10% and a return on equity of 24.76%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 EPS. Equities analysts expect that CSG Systems International, Inc. will post $2.52 earnings per share for the current year.

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CSGS has been the subject of several recent research reports. Stifel Nicolaus reissued a “buy” rating and issued a $47.00 price target on shares of CSG Systems International in a research report on Monday, July 10th. Zacks Investment Research lowered shares of CSG Systems International from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. Finally, BidaskClub lowered shares of CSG Systems International from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd.

In related news, 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 transaction of $113,100.00. Following the completion of the transaction, the director now directly owns 21,550 shares in the company, valued at approximately $812,435. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Donald Reed sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $41.53, for a total transaction of $207,650.00. Following the transaction, the director now owns 40,868 shares of the company’s stock, valued at $1,697,248.04. The disclosure for this sale can be found here. Insiders sold a total of 9,099 shares of company stock valued at $363,688 over the last 90 days. Corporate insiders own 2.57% of the company’s stock.

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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Institutional Ownership by Quarter for CSG Systems International (NASDAQ:CSGS)

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