Wedge Capital Management L L P NC Buys 10,894 Shares of CSG Systems International, Inc. $CSGS

Wedge Capital Management L L P NC lifted its stake in shares of CSG Systems International, Inc. (NASDAQ:CSGS) by 43.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 36,120 shares of the technology company’s stock after purchasing an additional 10,894 shares during the quarter. Wedge Capital Management L L P NC’s holdings in CSG Systems International were worth $2,325,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in CSG Systems International by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 478,663 shares of the technology company’s stock worth $31,261,000 after purchasing an additional 7,908 shares during the period. Hennessy Advisors Inc. bought a new position in shares of CSG Systems International in the second quarter valued at approximately $10,859,000. Lazard Asset Management LLC grew its stake in CSG Systems International by 75.7% during the second quarter. Lazard Asset Management LLC now owns 145,650 shares of the technology company’s stock valued at $9,512,000 after acquiring an additional 62,763 shares in the last quarter. Hillsdale Investment Management Inc. grew its stake in CSG Systems International by 24.8% during the second quarter. Hillsdale Investment Management Inc. now owns 106,700 shares of the technology company’s stock valued at $6,969,000 after acquiring an additional 21,200 shares in the last quarter. Finally, River Road Asset Management LLC increased its holdings in CSG Systems International by 3.0% during the 2nd quarter. River Road Asset Management LLC now owns 99,152 shares of the technology company’s stock worth $6,193,000 after acquiring an additional 2,884 shares during the period. Hedge funds and other institutional investors own 91.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CSGS. Northland Capmk downgraded shares of CSG Systems International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 29th. William Blair lowered CSG Systems International from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Wall Street Zen cut CSG Systems International from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Benchmark cut CSG Systems International from a “buy” rating to a “hold” rating in a report on Wednesday, October 29th. Finally, Royal Bank Of Canada downgraded CSG Systems International from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $72.00 to $80.70 in a research report on Wednesday, October 29th. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.81.

CSG Systems International Stock Down 0.0%

Shares of NASDAQ:CSGS opened at $76.97 on Wednesday. The firm has a market capitalization of $2.20 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 2.00 and a beta of 0.88. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.50 and a current ratio of 1.50. CSG Systems International, Inc. has a 52-week low of $49.23 and a 52-week high of $79.20. The firm has a fifty day moving average of $75.48 and a 200 day moving average of $67.94.

CSG Systems International (NASDAQ:CSGS) last issued its quarterly earnings results on Wednesday, November 5th. The technology company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.14. CSG Systems International had a return on equity of 42.54% and a net margin of 6.85%.The firm had revenue of $303.62 million during the quarter, compared to analyst estimates of $278.76 million. As a group, research analysts anticipate that CSG Systems International, Inc. will post 3.83 EPS for the current fiscal year.

CSG Systems International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Monday, December 22nd will be paid a $0.32 dividend. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $1.28 annualized dividend and a yield of 1.7%. CSG Systems International’s dividend payout ratio is currently 43.39%.

CSG Systems International Company Profile

CSG Systems International (NASDAQ: CSGS) is a global provider of business support systems and digital monetization solutions designed for communications and media service providers. Headquartered in Englewood, Colorado, the company delivers a suite of subscription billing, customer care, revenue management and digital commerce offerings that enable operators to launch, manage and monetize connectivity, entertainment and IoT services. CSG’s software platforms are built to support high-volume transaction processing, real-time rating and modern customer engagement capabilities.

Since its incorporation in 1982, CSG has expanded its footprint across North America, Latin America, Europe, the Middle East, Africa and the Asia-Pacific region.