KLP Kapitalforvaltning AS Invests $925,000 in CSG Systems International, Inc. (NASDAQ:CSGS)

KLP Kapitalforvaltning AS bought a new position in shares of CSG Systems International, Inc. (NASDAQ:CSGS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,000 shares of the technology company's stock, valued at approximately $925,000. KLP Kapitalforvaltning AS owned approximately 0.06% of CSG Systems International as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quantbot Technologies LP bought a new stake in shares of CSG Systems International during the 3rd quarter worth approximately $294,000. Martingale Asset Management L P bought a new position in CSG Systems International in the 3rd quarter valued at approximately $866,000. Dean Investment Associates LLC grew its stake 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 buying an additional 64,066 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of CSG Systems International by 0.7% in the 3rd 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 last quarter. Finally, TD Private Client Wealth LLC increased its holdings in 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 worth $104,000 after purchasing an additional 586 shares in the last quarter. 91.07% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at CSG Systems International

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

Analyst Ratings Changes

Several research firms have recently issued reports on CSGS. Jefferies Financial Group began coverage on CSG Systems International in a research note on Friday, February 21st. They issued a "buy" rating and a $75.00 price objective for the company. Wells Fargo & Company upped their target price on CSG Systems International from $51.00 to $65.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. StockNews.com downgraded shares of CSG Systems International from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. Northland Securities reissued an "outperform" rating and issued a $80.00 price objective (up from $78.00) on shares of CSG Systems International in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald lifted their target price on CSG Systems International from $64.00 to $72.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, CSG Systems International presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.71.

CSG Systems International Stock Down 2.9 %

CSG Systems International stock traded down $1.69 during mid-day trading on Friday, reaching $57.36. The stock had a trading volume of 383,900 shares, compared to its average volume of 264,167. 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, Inc. has a fifty-two week low of $39.56 and a fifty-two week high of $67.60. The stock's 50-day simple moving average is $61.77 and its 200-day simple moving average is $54.92. The firm has a market capitalization of $1.65 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.68 and a beta of 0.91.

CSG Systems International (NASDAQ:CSGS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The technology company reported $1.40 earnings per share (EPS) 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%. On average, sell-side analysts forecast that CSG Systems International, Inc. will post 3.83 EPS for the current fiscal year.

CSG Systems International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $1.28 annualized dividend and a yield of 2.23%. This is an increase from CSG Systems International's previous quarterly dividend of $0.30. CSG Systems International's dividend payout ratio is 42.11%.

CSG Systems International 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.