CSG Systems International, Inc. (NASDAQ:CSGS) Stock Holdings Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in CSG Systems International, Inc. (NASDAQ:CSGS - Free Report) by 0.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 673,525 shares of the technology company's stock after selling 5,546 shares during the period. Bank of New York Mellon Corp owned about 2.32% of CSG Systems International worth $34,424,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Independence Bank of Kentucky acquired a new position in shares of CSG Systems International in the 4th quarter valued at about $80,000. TD Private Client Wealth LLC boosted its holdings in shares of CSG Systems International by 38.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 2,128 shares of the technology company's stock valued at $104,000 after buying an additional 586 shares during the period. Quantbot Technologies LP acquired a new position in shares of CSG Systems International in the 3rd quarter valued at about $294,000. Handelsbanken Fonder AB boosted its holdings in shares of CSG Systems International by 15.9% in the 4th quarter. Handelsbanken Fonder AB now owns 8,030 shares of the technology company's stock valued at $410,000 after buying an additional 1,100 shares during the period. Finally, Cornercap Investment Counsel Inc. boosted its holdings in shares of CSG Systems International by 39.8% in the 3rd quarter. Cornercap Investment Counsel Inc. now owns 10,538 shares of the technology company's stock valued at $513,000 after buying an additional 3,001 shares during the period. 91.07% of the stock is owned by institutional investors and hedge funds.

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CSG Systems International Price Performance

Shares of NASDAQ:CSGS traded down $2.07 during trading on Monday, reaching $62.04. The company had a trading volume of 277,974 shares, compared to its average volume of 241,594. The firm's fifty day moving average is $58.55 and its 200 day moving average is $53.21. The firm has a market capitalization of $1.79 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 1.68 and a beta of 0.85. CSG Systems International, Inc. has a twelve month low of $39.56 and a twelve month high of $67.60. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.58 and a current ratio of 1.46.

CSG Systems International (NASDAQ:CSGS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The technology company reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.20. CSG Systems International had a net margin of 7.25% and a return on equity of 39.42%. On average, equities analysts forecast that CSG Systems International, Inc. will post 3.83 EPS for the current year.

CSG Systems International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be issued a $0.32 dividend. This is an increase from CSG Systems International's previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Wednesday, March 19th. CSG Systems International's payout ratio is presently 42.11%.

Insider Buying and Selling

In related news, Director Ronald Cooper sold 9,000 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $66.62, for a total value of $599,580.00. Following the sale, the director now directly owns 41,561 shares in the company, valued at $2,768,793.82. The trade was a 17.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.05% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Northland Securities reissued an "outperform" rating and set a $80.00 target price (up from $78.00) on shares of CSG Systems International in a research note on Thursday, February 6th. Wells Fargo & Company boosted their target price on shares of CSG Systems International from $51.00 to $65.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Royal Bank of Canada boosted their target price on shares of CSG Systems International from $58.00 to $69.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Jefferies Financial Group assumed coverage on shares of CSG Systems International in a research note on Friday, February 21st. They set a "buy" rating and a $75.00 target price for the company. Finally, Cantor Fitzgerald boosted their target price on shares of CSG Systems International from $64.00 to $72.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $71.71.

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.