Shares of CSG Systems International, Inc. (NASDAQ:CSGS - Get Free Report) reached a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $65.00 and last traded at $63.82, with a volume of 59864 shares changing hands. The stock had previously closed at $61.66.
The technology company reported $1.40 earnings per share for the quarter, beating 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%.
CSG Systems International Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be given a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This is a boost from CSG Systems International's previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 2.02%. CSG Systems International's dividend payout ratio is 39.47%.
Analysts Set New Price Targets
CSGS has been the topic of a number of research analyst reports. Cantor Fitzgerald upped their price target on CSG Systems International from $64.00 to $72.00 and gave the company an "overweight" rating in a report on Thursday. Northland Securities reissued an "outperform" rating and issued a $80.00 target price (up from $78.00) on shares of CSG Systems International in a research report on Thursday. Wells Fargo & Company upped their price target on shares of CSG Systems International from $51.00 to $65.00 and gave the company an "equal weight" rating in a research report on Thursday. Stifel Nicolaus raised their price objective on shares of CSG Systems International from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Royal Bank of Canada boosted their price objective on shares of CSG Systems International from $58.00 to $69.00 and gave the company an "outperform" rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, CSG Systems International presently has a consensus rating of "Moderate Buy" and an average target price of $71.17.
Check Out Our Latest Analysis on CSG Systems International
Hedge Funds Weigh In On CSG Systems International
Large investors have recently added to or reduced their stakes in the company. Boston Trust Walden Corp raised its position in shares of CSG Systems International by 9.0% during the 4th quarter. Boston Trust Walden Corp now owns 1,065,484 shares of the technology company's stock valued at $54,457,000 after purchasing an additional 88,216 shares during the period. SG Americas Securities LLC purchased a new stake in CSG Systems International in the 3rd quarter worth $840,000. Geode Capital Management LLC raised its holdings in CSG Systems International by 0.7% during the third quarter. Geode Capital Management LLC now owns 678,994 shares of the technology company's stock valued at $33,039,000 after acquiring an additional 4,903 shares during the period. Dean Investment Associates LLC grew its position in shares of CSG Systems International by 116.1% during the third quarter. Dean Investment Associates LLC now owns 119,248 shares of the technology company's stock worth $5,801,000 after purchasing an additional 64,066 shares in the last quarter. Finally, Martingale Asset Management L P bought a new stake in CSG Systems International during the 3rd quarter valued at approximately $866,000. Hedge funds and other institutional investors own 91.07% of the company's stock.
CSG Systems International Trading Down 1.4 %
The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.58 and a current ratio of 1.46. The company has a market capitalization of $1.85 billion, a PE ratio of 20.88, a PEG ratio of 1.77 and a beta of 0.89. The stock has a fifty day moving average of $53.94 and a 200 day moving average of $50.55.
About CSG Systems International
(
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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.
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