Geode Capital Management LLC Lowers Position in CSG Systems International, Inc. (NASDAQ:CSGS)

Geode Capital Management LLC trimmed its stake in shares of CSG Systems International, Inc. (NASDAQ:CSGS - Free Report) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 672,266 shares of the technology company's stock after selling 6,728 shares during the quarter. Geode Capital Management LLC owned 2.31% of CSG Systems International worth $34,368,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Independence Bank of Kentucky acquired a new stake in shares of CSG Systems International in the 4th quarter valued at $80,000. Handelsbanken Fonder AB lifted its holdings in CSG Systems International by 15.9% during the 4th quarter. Handelsbanken Fonder AB now owns 8,030 shares of the technology company's stock worth $410,000 after buying an additional 1,100 shares during the last quarter. Willis Investment Counsel boosted its position in shares of CSG Systems International by 4.3% during the 4th quarter. Willis Investment Counsel now owns 16,276 shares of the technology company's stock worth $832,000 after acquiring an additional 668 shares in the last quarter. Amundi raised its position in shares of CSG Systems International by 1.0% during the 4th quarter. Amundi now owns 18,027 shares of the technology company's stock worth $910,000 after acquiring an additional 179 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in CSG Systems International in the fourth quarter valued at approximately $925,000. Hedge funds and other institutional investors own 91.07% of the company's stock.

Insider Transactions at CSG Systems International

In other CSG Systems International news, Director Ronald Cooper sold 9,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $66.62, for a total transaction of $599,580.00. Following the transaction, the director now owns 41,561 shares of the company's stock, valued at $2,768,793.82. This represents a 17.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 3.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CSGS shares. Wells Fargo & Company dropped their target price on shares of CSG Systems International from $65.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Cantor Fitzgerald raised their price objective on CSG Systems International from $64.00 to $72.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Stifel Nicolaus raised their target price on shares of CSG Systems International from $60.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. StockNews.com cut CSG Systems International from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. Finally, Jefferies Financial Group began coverage on shares of CSG Systems International in a research note on Friday, February 21st. They issued a "buy" rating and a $75.00 target price for the company. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $70.71.

CSG Systems International Price Performance

Shares of CSGS stock traded down $0.82 during mid-day trading on Tuesday, reaching $58.25. The stock had a trading volume of 369,344 shares, compared to its average volume of 271,755. The company has a market cap of $1.68 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 1.68 and a beta of 0.91. The company has a current ratio of 1.46, a quick ratio of 1.58 and a debt-to-equity ratio of 1.88. CSG Systems International, Inc. has a 12-month low of $39.56 and a 12-month high of $67.60. The business has a 50-day simple moving average of $61.27 and a 200 day simple moving average of $55.95.

CSG Systems International (NASDAQ:CSGS - Get Free Report) last posted its earnings results on Wednesday, February 5th. The technology company reported $1.40 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts anticipate that CSG Systems International, Inc. will post 3.83 earnings per share for the current year.

CSG Systems International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th were given a dividend of $0.32 per share. This is an increase from CSG Systems International's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $1.28 annualized dividend and a yield of 2.20%. CSG Systems International's dividend payout ratio (DPR) is presently 42.11%.

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.