Zacks: Brokerages Set $47.00 Price Target for CSG Systems International, Inc. (CSGS)
CSG Systems International, Inc. (NASDAQ:CSGS) has been given an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.
Analysts have set a 1-year consensus target price of $47.00 for the company and are anticipating that the company will post $0.66 earnings per share for the current quarter, according to Zacks. Zacks has also assigned CSG Systems International an industry rank of 75 out of 265 based on the ratings given to its competitors.
Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of CSG Systems International from a “hold” rating to a “strong-buy” rating and set a $51.00 price target for the company in a research report on Tuesday, November 7th. BidaskClub lowered shares of CSG Systems International from a “hold” rating to a “sell” rating in a research report on Saturday, December 30th. Finally, Stifel Nicolaus restated a “buy” rating and set a $47.00 price target on shares of CSG Systems International in a research report on Friday, November 3rd.
CSG Systems International (NASDAQ:CSGS) last posted its earnings results on Wednesday, November 1st. The technology company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.01. CSG Systems International had a net margin of 7.57% and a return on equity of 22.11%. The firm had revenue of $199.20 million during the quarter, compared to analyst estimates of $194.67 million. During the same quarter in the prior year, the business posted $0.75 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. equities analysts forecast that CSG Systems International will post 2.1 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Tuesday, December 5th were given a dividend of $0.1975 per share. The ex-dividend date of this dividend was Monday, December 4th. This represents a $0.79 annualized dividend and a yield of 1.73%. CSG Systems International’s payout ratio is currently 44.13%.
In related news, CFO Randy Wiese sold 19,225 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $44.41, for a total transaction of $853,782.25. Following the completion of the transaction, the chief financial officer now owns 103,506 shares in the company, valued at $4,596,701.46. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Donald V. Smith sold 8,878 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $44.23, for a total transaction of $392,673.94. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $884,600. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,500 shares of company stock valued at $1,667,195. 2.57% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System lifted its holdings in CSG Systems International by 41.9% during the third quarter. California Public Employees Retirement System now owns 24,832 shares of the technology company’s stock valued at $996,000 after purchasing an additional 7,332 shares during the last quarter. Schroder Investment Management Group lifted its holdings in CSG Systems International by 88.8% during the third quarter. Schroder Investment Management Group now owns 515,348 shares of the technology company’s stock valued at $20,562,000 after purchasing an additional 242,403 shares during the last quarter. American International Group Inc. lifted its holdings in CSG Systems International by 5.6% during the third quarter. American International Group Inc. now owns 26,446 shares of the technology company’s stock valued at $1,060,000 after purchasing an additional 1,409 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in CSG Systems International by 98.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 106,755 shares of the technology company’s stock valued at $4,281,000 after purchasing an additional 53,000 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in CSG Systems International by 277.3% during the third quarter. Russell Investments Group Ltd. now owns 30,617 shares of the technology company’s stock valued at $1,227,000 after purchasing an additional 22,503 shares during the last quarter. 90.53% of the stock is currently owned by institutional investors and hedge funds.
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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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