CSG Systems International (NASDAQ:CSGS) Reaches New 52-Week High on Better-Than-Expected Earnings

CSG Systems International, Inc. (NASDAQ:CSGS)’s share price hit a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $65.00 and last traded at $63.82, with a volume of 59864 shares traded. The stock had previously closed at $61.66.

The technology company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.20 by $0.20. CSG Systems International had a net margin of 5.52% and a return on equity of 32.77%.

CSG Systems International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Wednesday, December 18th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.20 annualized dividend and a yield of 1.86%. CSG Systems International’s dividend payout ratio is presently 52.86%.

Analyst Ratings Changes

Several research firms have weighed in on CSGS. Benchmark reissued a “buy” rating and issued a $75.00 target price on shares of CSG Systems International in a report on Tuesday, November 5th. Wells Fargo & Company increased their price objective on shares of CSG Systems International from $43.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Cantor Fitzgerald lifted their target price on shares of CSG Systems International from $64.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday. Northland Securities reiterated an “outperform” rating and issued a $80.00 price target (up from $78.00) on shares of CSG Systems International in a research report on Thursday. Finally, Royal Bank of Canada lifted their price objective on CSG Systems International from $52.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, CSG Systems International has an average rating of “Moderate Buy” and a consensus price target of $67.20.

Institutional Investors Weigh In On CSG Systems International

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of CSG Systems International during the 3rd quarter worth $840,000. Boston Trust Walden Corp lifted its holdings 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 worth $54,457,000 after acquiring an additional 88,216 shares during the period. Geode Capital Management LLC boosted its position in shares of CSG Systems International by 0.7% in the third quarter. Geode Capital Management LLC now owns 678,994 shares of the technology company’s stock worth $33,039,000 after acquiring an additional 4,903 shares during the last quarter. Dean Investment Associates LLC grew its holdings in CSG Systems International by 116.1% in the third quarter. Dean Investment Associates LLC now owns 119,248 shares of the technology company’s stock valued at $5,801,000 after purchasing an additional 64,066 shares during the period. Finally, Martingale Asset Management L P acquired a new position in CSG Systems International during the third quarter worth approximately $866,000. 91.07% of the stock is owned by institutional investors and hedge funds.

CSG Systems International Stock Performance

The company has a market cap of $1.88 billion, a PE ratio of 28.57, a P/E/G ratio of 1.61 and a beta of 0.89. The stock’s 50 day simple moving average is $53.40 and its two-hundred day simple moving average is $50.15. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.84.

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.