Stifel Nicolaus Cuts CSG Systems International Inc. (CSGS) Price Target to $47.00
CSG Systems International Inc. (NASDAQ:CSGS) had its price target reduced by analysts at Stifel Nicolaus from $49.00 to $47.00 in a report issued on Thursday. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 7.47% from the company’s previous close.
Separately, Zacks Investment Research upgraded CSG Systems International from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Monday, August 8th.
CSG Systems International (NASDAQ:CSGS) opened at 43.735 on Thursday. The stock’s 50 day moving average price is $42.49 and its 200 day moving average price is $42.30. CSG Systems International has a 12 month low of $30.06 and a 12 month high of $46.54. The firm has a market capitalization of $1.34 billion, a PE ratio of 20.173 and a beta of 0.81.
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CSG Systems International (NASDAQ:CSGS) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.08. CSG Systems International had a return on equity of 31.47% and a net margin of 9.56%. The firm had revenue of $190.30 million for the quarter, compared to analyst estimates of $185.50 million. During the same period in the previous year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities research analysts expect that CSG Systems International will post $2.65 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, September 14th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Monday, September 12th. CSG Systems International’s payout ratio is 34.10%.
In other CSG Systems International news, insider Rolland B. Johns sold 1,099 shares of CSG Systems International stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $40.31, for a total transaction of $44,300.69. Following the sale, the insider now directly owns 23,305 shares of the company’s stock, valued at $939,424.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.25% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Schroder Investment Management Group increased its stake in CSG Systems International by 4.1% in the second quarter. Schroder Investment Management Group now owns 771,884 shares of the company’s stock worth $31,115,000 after buying an additional 30,684 shares during the last quarter. Norges Bank acquired a new position in shares of CSG Systems International during the fourth quarter valued at approximately $15,982,000. Emerald Acquisition Ltd. acquired a new position in shares of CSG Systems International during the second quarter valued at approximately $14,944,000. Geode Capital Management LLC increased its position in shares of CSG Systems International by 1.2% in the first quarter. Geode Capital Management LLC now owns 352,205 shares of the company’s stock valued at $15,904,000 after buying an additional 4,185 shares during the last quarter. Finally, Bogle Investment Management L P DE increased its position in shares of CSG Systems International by 107.0% in the first quarter. Bogle Investment Management L P DE now owns 266,953 shares of the company’s stock valued at $12,055,000 after buying an additional 138,007 shares during the last quarter.
About CSG Systems International
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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