Zacks Investment Research lowered shares of CSG Systems International (NASDAQ:CSGS) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday, January 2nd.
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 brokerages have also recently issued reports on CSGS. BidaskClub cut CSG Systems International from a hold rating to a sell rating in a report on Tuesday, December 12th. Stifel Nicolaus reissued a buy rating and issued a $47.00 price objective on shares of CSG Systems International in a report on Friday, November 3rd.
Shares of CSG Systems International (NASDAQ:CSGS) opened at $45.19 on Tuesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.56 and a current ratio of 2.56. The firm has a market capitalization of $1,517.27, a PE ratio of 25.25 and a beta of 1.02. CSG Systems International has a one year low of $35.48 and a one year high of $50.15.
CSG Systems International (NASDAQ:CSGS) last posted its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.01. The business had revenue of $199.20 million for the quarter, compared to the consensus estimate of $194.67 million. CSG Systems International had a return on equity of 22.11% and a net margin of 7.57%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 EPS. equities research analysts forecast that CSG Systems International will post 2.1 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Tuesday, December 5th were issued a $0.1975 dividend. The ex-dividend date of this dividend was Monday, December 4th. This represents a $0.79 dividend on an annualized basis and a yield of 1.75%. CSG Systems International’s payout ratio is 44.13%.
In related news, Director Donald V. Smith sold 8,878 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $44.23, for a total value of $392,673.94. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $884,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rolland B. Johns sold 2,494 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $44.19, for a total value of $110,209.86. Following the completion of the transaction, the insider now directly owns 14,556 shares of the company’s stock, valued at approximately $643,229.64. The disclosure for this sale can be found here. Insiders sold a total of 37,500 shares of company stock valued at $1,667,195 in the last ninety days. 2.57% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the business. California Public Employees Retirement System raised its holdings in shares of 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 acquiring an additional 7,332 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of 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 acquiring an additional 242,403 shares during the last quarter. American International Group Inc. raised its holdings in shares of 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 acquiring an additional 1,409 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of 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 acquiring an additional 53,000 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of CSG Systems International by 277.3% in 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 in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.
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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