CSG Systems International (NASDAQ:CSGS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $50.00 price target on the technology company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 10.74% from the stock’s current price.
According to Zacks, “CSG Systems International Inc. is a leading provider of outsourced billing, customer care and print and mail solutions and services supporting the North American cable and direct broadcast satellite markets. CSG’s solutions support some of the world’s largest and most innovative providers of bundled multi-channel video, Internet, voice and IP-based services. CSG’s unique combination of solutions, services and expertise ensure that cable and satellite operators can continue to rapidly launch new service offerings, improve operational efficiencies and deliver a high-quality customer experience in a competitive and ever-changing marketplace. “
Several other equities research analysts also recently commented on the stock. BidaskClub upgraded shares of CSG Systems International from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Stifel Nicolaus reiterated a “buy” rating and set a $47.00 target price 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, February 7th. The technology company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.03). CSG Systems International had a return on equity of 21.47% and a net margin of 7.77%. The business had revenue of $205.20 million for the quarter, compared to analyst estimates of $199.21 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. equities analysts predict that CSG Systems International will post 2.45 earnings per share for the current fiscal year.
In other CSG Systems International news, insider Rolland B. Johns sold 2,494 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $44.19, for a total transaction of $110,209.86. Following the completion of the transaction, the insider now owns 14,556 shares in the company, valued at approximately $643,229.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Donald V. Smith sold 8,878 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was 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. Company insiders own 2.57% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CSGS. Schroder Investment Management Group increased its stake in shares of CSG Systems International by 88.8% in the 3rd quarter. Schroder Investment Management Group now owns 515,348 shares of the technology company’s stock valued at $20,562,000 after acquiring an additional 242,403 shares in the last quarter. State Street Corp increased its stake in shares of CSG Systems International by 12.1% in the 2nd quarter. State Street Corp now owns 872,146 shares of the technology company’s stock valued at $35,389,000 after acquiring an additional 94,287 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of CSG Systems International by 98.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 106,755 shares of the technology company’s stock valued at $4,281,000 after acquiring an additional 53,000 shares in the last quarter. Martingale Asset Management L P increased its stake in shares of CSG Systems International by 71.1% in the 4th quarter. Martingale Asset Management L P now owns 104,232 shares of the technology company’s stock valued at $4,568,000 after acquiring an additional 43,314 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of CSG Systems International by 4.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,012,238 shares of the technology company’s stock valued at $40,590,000 after acquiring an additional 40,256 shares in the last quarter. Hedge funds and other institutional investors own 92.00% of the company’s stock.
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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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