Zacks Investment Research upgraded shares of CSG Systems International (NASDAQ:CSGS) from a hold rating to a buy rating in a research report sent to investors on Monday, Zacks.com reports. They currently have $57.00 target price on the technology company’s stock.
According to Zacks, “CSG Systems International Inc. is a leading provider of outsourced billing, customer care and print and mail solutions and services supporting the North American cable and direct broadcast satellite markets. CSG’s solutions support some of the world’s largest and most innovative providers of bundled multi-channel video, Internet, voice and IP-based services. CSG’s unique combination of solutions, services and expertise ensure that cable and satellite operators can continue to rapidly launch new service offerings, improve operational efficiencies and deliver a high-quality customer experience in a competitive and ever-changing marketplace. “
Several other analysts also recently weighed in on CSGS. BidaskClub raised CSG Systems International from a hold rating to a buy rating in a research note on Tuesday, July 30th. ValuEngine downgraded CSG Systems International from a buy rating to a hold rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $52.67.
CSG Systems International (NASDAQ:CSGS) last announced its earnings results on Wednesday, August 7th. The technology company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.04. The firm had revenue of $245.90 million for the quarter, compared to the consensus estimate of $227.60 million. CSG Systems International had a return on equity of 25.57% and a net margin of 7.95%. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.73 EPS. Sell-side analysts forecast that CSG Systems International will post 2.77 earnings per share for the current year.
In other news, Director Donald Reed sold 6,800 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $46.09, for a total value of $313,412.00. Following the sale, the director now owns 34,868 shares of the company’s stock, valued at approximately $1,607,066.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.94% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. LSV Asset Management raised its stake in shares of CSG Systems International by 1.0% in the 1st quarter. LSV Asset Management now owns 1,550,052 shares of the technology company’s stock worth $65,567,000 after buying an additional 15,300 shares in the last quarter. Norges Bank acquired a new stake in shares of CSG Systems International during the fourth quarter worth $23,381,000. Geode Capital Management LLC raised its position in shares of CSG Systems International by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 534,426 shares of the technology company’s stock worth $16,978,000 after purchasing an additional 7,278 shares during the period. BTIM Corp. raised its position in shares of CSG Systems International by 7.3% during the first quarter. BTIM Corp. now owns 533,013 shares of the technology company’s stock worth $22,547,000 after purchasing an additional 36,406 shares during the period. Finally, Foundry Partners LLC grew its holdings in shares of CSG Systems International by 11.0% during the second quarter. Foundry Partners LLC now owns 350,394 shares of the technology company’s stock valued at $17,110,000 after buying an additional 34,642 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors.
About CSG Systems International
CSG Systems International, Inc provides business support solutions primarily to the communications industry in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers revenue management and digital monetization solutions, including Advanced Convergent Platform, a pre-integrated hybrid cloud-based platform; and Ascendon, Singleview, Total Service Mediation, and Wholesale Business Management Solution platforms.
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