CSG Systems International (NASDAQ:CSGS) Given New $51.00 Price Target at Wells Fargo & Company

CSG Systems International (NASDAQ:CSGS) had its price target raised by Wells Fargo & Company from $43.00 to $51.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 8.23% from the stock’s previous close.

A number of other brokerages have also weighed in on CSGS. Cantor Fitzgerald lifted their target price on CSG Systems International from $62.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. StockNews.com upgraded CSG Systems International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada lowered their price objective on shares of CSG Systems International from $61.00 to $52.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Benchmark reissued a “buy” rating and set a $75.00 target price on shares of CSG Systems International in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.60.

CSG Systems International Trading Down 0.6 %

Shares of CSGS traded down $0.35 during trading hours on Thursday, reaching $55.58. 387,457 shares of the company traded hands, compared to its average volume of 268,877. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 1.39 and a beta of 0.82. CSG Systems International has a 12-month low of $39.56 and a 12-month high of $57.15. The stock’s fifty day moving average price is $48.08 and its 200 day moving average price is $45.19. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.95.

CSG Systems International (NASDAQ:CSGS) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. The company had revenue of $295.14 million during the quarter, compared to analysts’ expectations of $283.13 million. CSG Systems International had a net margin of 5.53% and a return on equity of 33.18%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 EPS. Sell-side analysts forecast that CSG Systems International will post 3.43 earnings per share for the current year.

Institutional Trading of CSG Systems International

Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of CSG Systems International by 30.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 744,837 shares of the technology company’s stock worth $30,665,000 after acquiring an additional 173,944 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in shares of CSG Systems International by 18.9% during the 2nd quarter. Boston Trust Walden Corp now owns 983,688 shares of the technology company’s stock valued at $40,498,000 after purchasing an additional 156,222 shares during the last quarter. Delphi Management Inc. MA acquired a new stake in shares of CSG Systems International in the 1st quarter worth $1,599,000. LSV Asset Management grew its stake in CSG Systems International by 2.1% during the 1st quarter. LSV Asset Management now owns 1,438,395 shares of the technology company’s stock worth $74,135,000 after buying an additional 29,723 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in CSG Systems International by 116.2% during the 1st quarter. Lazard Asset Management LLC now owns 53,332 shares of the technology company’s stock valued at $2,748,000 after buying an additional 28,666 shares in the last quarter. 91.07% of the stock is owned by hedge funds and other institutional investors.

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.