Corebridge Financial Inc. Lowers Stock Position in CSG Systems International, Inc. $CSGS

Corebridge Financial Inc. lowered its position in CSG Systems International, Inc. (NASDAQ:CSGS) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,054 shares of the technology company’s stock after selling 644 shares during the period. Corebridge Financial Inc. owned about 0.05% of CSG Systems International worth $910,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CSGS. SG Americas Securities LLC purchased a new stake in CSG Systems International during the first quarter worth about $315,000. GAMMA Investing LLC increased its holdings in CSG Systems International by 6,481.5% during the first quarter. GAMMA Investing LLC now owns 37,975 shares of the technology company’s stock worth $2,296,000 after buying an additional 37,398 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in CSG Systems International by 18.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,357,287 shares of the technology company’s stock worth $82,075,000 after buying an additional 216,128 shares during the last quarter. LSV Asset Management increased its holdings in CSG Systems International by 6.0% during the first quarter. LSV Asset Management now owns 1,465,588 shares of the technology company’s stock worth $88,624,000 after buying an additional 82,344 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC purchased a new stake in CSG Systems International during the first quarter worth about $1,495,000. Hedge funds and other institutional investors own 91.07% of the company’s stock.

CSG Systems International Price Performance

Shares of NASDAQ:CSGS opened at $64.81 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $1.86 billion, a PE ratio of 22.43, a P/E/G ratio of 1.67 and a beta of 0.93. CSG Systems International, Inc. has a twelve month low of $44.57 and a twelve month high of $67.60. The company has a 50-day moving average price of $63.27 and a two-hundred day moving average price of $62.61.

CSG Systems International (NASDAQ:CSGS) last issued its earnings results on Wednesday, August 6th. The technology company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.12. The firm had revenue of $271.26 million during the quarter, compared to analyst estimates of $267.41 million. CSG Systems International had a net margin of 6.78% and a return on equity of 40.48%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $1.02 earnings per share. Equities analysts forecast that CSG Systems International, Inc. will post 3.83 EPS for the current year.

CSG Systems International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Friday, September 19th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, September 19th. CSG Systems International’s dividend payout ratio (DPR) is 44.29%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Sidoti upgraded shares of CSG Systems International to a “strong-buy” rating in a report on Monday, May 19th. Wall Street Zen upgraded shares of CSG Systems International from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 29th. Wolfe Research assumed coverage on shares of CSG Systems International in a report on Tuesday, July 8th. They set a “peer perform” rating for the company. Finally, Stifel Nicolaus raised their price objective on shares of CSG Systems International from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, CSG Systems International presently has a consensus rating of “Moderate Buy” and an average target price of $71.29.

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.