CSG Systems International (NASDAQ:CSGS) Price Target Cut to $62.00 by Analysts at Cantor Fitzgerald

CSG Systems International (NASDAQ:CSGS) had its price objective trimmed by Cantor Fitzgerald from $63.00 to $62.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Several other analysts have also commented on the stock. Royal Bank of Canada initiated coverage on shares of CSG Systems International in a research report on Wednesday, March 27th. They issued an outperform rating and a $61.00 price target on the stock. Wells Fargo & Company dropped their target price on CSG Systems International from $50.00 to $48.00 and set an equal weight rating for the company in a research note on Thursday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $62.50.

CSG Systems International Price Performance

Shares of NASDAQ:CSGS opened at $41.70 on Thursday. The company has a 50-day simple moving average of $50.29 and a 200-day simple moving average of $51.01. CSG Systems International has a one year low of $41.52 and a one year high of $69.35. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.74 and a current ratio of 1.74. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 1.27 and a beta of 0.83.

CSG Systems International (NASDAQ:CSGS) last posted its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.04. The firm had revenue of $273.36 million during the quarter, compared to analysts’ expectations of $273.92 million. CSG Systems International had a net margin of 5.56% and a return on equity of 28.77%. On average, analysts predict 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. Shareholders of record on Friday, March 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from CSG Systems International’s previous quarterly dividend of $0.28. CSG Systems International’s payout ratio is 54.79%.

Institutional Investors Weigh In On CSG Systems International

A number of institutional investors have recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division purchased a new stake in shares of CSG Systems International in the first quarter worth about $190,000. BNP Paribas Financial Markets boosted its position in shares of CSG Systems International by 48.6% in the fourth quarter. BNP Paribas Financial Markets now owns 44,905 shares of the technology company’s stock worth $2,389,000 after buying an additional 14,682 shares during the period. New York State Teachers Retirement System boosted its position in shares of CSG Systems International by 3.8% in the third quarter. New York State Teachers Retirement System now owns 68,910 shares of the technology company’s stock worth $3,523,000 after buying an additional 2,524 shares during the period. Bahl & Gaynor Inc. boosted its position in shares of CSG Systems International by 8.1% in 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 boosted its position in shares of CSG Systems International by 1.0% in 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 period. Hedge funds and other institutional investors own 91.07% of the company’s stock.

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.