Martingale Asset Management L P Purchases Shares of 17,792 CSG Systems International, Inc. (NASDAQ:CSGS)

Martingale Asset Management L P acquired a new stake in shares of CSG Systems International, Inc. (NASDAQ:CSGS - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 17,792 shares of the technology company's stock, valued at approximately $866,000. Martingale Asset Management L P owned 0.06% of CSG Systems International as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CSGS. Central Pacific Bank Trust Division increased its stake in shares of CSG Systems International by 20.3% in the third quarter. Central Pacific Bank Trust Division now owns 3,611 shares of the technology company's stock worth $176,000 after buying an additional 610 shares during the last quarter. Cornercap Investment Counsel Inc. increased its stake in shares of CSG Systems International by 39.8% in the third quarter. Cornercap Investment Counsel Inc. now owns 10,538 shares of the technology company's stock worth $513,000 after buying an additional 3,001 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in shares of CSG Systems International by 23.2% in the second quarter. Wedge Capital Management L L P NC now owns 28,916 shares of the technology company's stock worth $1,190,000 after buying an additional 5,451 shares during the last quarter. Comerica Bank increased its stake in shares of CSG Systems International by 34.9% in the first quarter. Comerica Bank now owns 21,954 shares of the technology company's stock worth $1,132,000 after buying an additional 5,676 shares during the last quarter. Finally, Stoneridge Investment Partners LLC bought a new stake in shares of CSG Systems International in the second quarter worth $243,000. Hedge funds and other institutional investors own 91.07% of the company's stock.

Wall Street Analyst Weigh In

CSGS has been the subject of a number of research reports. Benchmark reaffirmed a "buy" rating and issued a $75.00 price objective on shares of CSG Systems International in a report on Tuesday, November 5th. Cantor Fitzgerald lifted their price objective on shares of CSG Systems International from $62.00 to $64.00 and gave the stock an "overweight" rating in a report on Thursday, August 8th. Wells Fargo & Company lifted their price objective on shares of CSG Systems International from $43.00 to $51.00 and gave the stock an "equal weight" rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their price objective on shares of CSG Systems International from $52.00 to $58.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Finally, StockNews.com raised shares of CSG Systems International from a "buy" rating to a "strong-buy" rating in a report on Friday, November 15th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $62.00.

CSG Systems International Stock Performance

Shares of CSG Systems International stock traded down $0.99 during trading on Tuesday, hitting $54.72. 230,443 shares of the stock were exchanged, compared to its average volume of 265,376. The stock's fifty day moving average is $50.60 and its 200 day moving average is $46.35. The stock has a market cap of $1.59 billion, a PE ratio of 24.11, a P/E/G ratio of 1.60 and a beta of 0.86. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.58 and a current ratio of 1.58. CSG Systems International, Inc. has a 12 month low of $39.56 and a 12 month high of $57.15.

CSG Systems International (NASDAQ:CSGS - Get Free Report) last announced its earnings results on Wednesday, November 6th. The technology company reported $1.06 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.06. The firm had revenue of $295.14 million during the quarter, compared to analyst estimates of $283.13 million. CSG Systems International had a net margin of 5.52% and a return on equity of 32.77%. CSG Systems International's revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 EPS. As a group, sell-side analysts anticipate that CSG Systems International, Inc. will post 3.48 EPS for the current year.

CSG Systems International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Wednesday, December 18th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.20 dividend on an annualized basis and a yield of 2.19%. CSG Systems International's dividend payout ratio is presently 52.86%.

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.