CSG Systems International (NASDAQ:CSGS) Price Target Cut to $48.00 by Analysts at Wells Fargo & Company

CSG Systems International (NASDAQ:CSGS) had its price target lowered by Wells Fargo & Company from $50.00 to $48.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

Other analysts also recently issued reports about the company. Cantor Fitzgerald reiterated an overweight rating and set a $63.00 target price on shares of CSG Systems International in a research report on Thursday, February 8th. Royal Bank of Canada started coverage on shares of CSG Systems International in a research note on Wednesday, March 27th. They set an outperform rating and a $61.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $62.50.

CSG Systems International Stock Performance

Shares of NASDAQ CSGS opened at $41.70 on Thursday. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.74 and a quick ratio of 1.74. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 1.27 and a beta of 0.83. The stock’s fifty day moving average price is $50.29 and its two-hundred day moving average price is $51.01. CSG Systems International has a one year low of $41.52 and a one year high of $69.35.

CSG Systems International (NASDAQ:CSGS) last announced its earnings results on Wednesday, February 7th. The technology company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. CSG Systems International had a net margin of 5.56% and a return on equity of 28.77%. The firm had revenue of $273.36 million for the quarter, compared to analyst estimates of $273.92 million. On average, equities analysts forecast that CSG Systems International will post 3.29 EPS for the current year.

CSG Systems International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.88%. This is a boost from CSG Systems International’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, March 14th. CSG Systems International’s dividend payout ratio is presently 54.79%.

Hedge Funds Weigh In On CSG Systems International

Several large investors have recently bought and sold shares of CSGS. Central Pacific Bank Trust Division bought a new stake in shares of CSG Systems International in the first quarter worth $190,000. BNP Paribas Financial Markets raised its holdings in CSG Systems International by 48.6% during the 4th quarter. BNP Paribas Financial Markets now owns 44,905 shares of the technology company’s stock worth $2,389,000 after purchasing an additional 14,682 shares during the last quarter. New York State Teachers Retirement System lifted its position in shares of CSG Systems International by 3.8% in the 3rd quarter. New York State Teachers Retirement System now owns 68,910 shares of the technology company’s stock worth $3,523,000 after purchasing an additional 2,524 shares during the period. Bahl & Gaynor Inc. increased its position in shares of CSG Systems International by 8.1% during the third quarter. Bahl & Gaynor Inc. now owns 484,363 shares of the technology company’s stock worth $24,761,000 after buying an additional 36,488 shares during the period. Finally, Boston Trust Walden Corp raised its stake in CSG Systems International by 1.0% during the fourth quarter. Boston Trust Walden Corp now owns 832,194 shares of the technology company’s stock worth $44,281,000 after buying an additional 8,395 shares during the last quarter. 91.07% of the stock is currently owned by institutional investors.

CSG Systems International Company Profile

CSG Systems International, Inc, together with its subsidiaries, provides revenue management and digital monetization, customer experience, and payment solutions primarily to the communications industry in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers Advanced Convergent Platform, a private SaaS platform; and related solutions, including service technician management, analytics, electronic bill presentment, etc.