CSG Systems International (NASDAQ:CSGS) Price Target Raised to $51.00

CSG Systems International (NASDAQ:CSGS) had its price objective hoisted by analysts at Wells Fargo & Company from $43.00 to $51.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 9.03% from the stock’s previous close.

CSGS has been the topic of a number of other reports. Cantor Fitzgerald lifted their target price on CSG Systems International from $62.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Royal Bank of Canada dropped 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 report on Thursday, August 8th. StockNews.com raised shares of CSG Systems International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Finally, Benchmark reiterated a “buy” rating and set a $75.00 target price on shares of CSG Systems International in a report on Tuesday. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $60.40.

CSG Systems International Stock Performance

Shares of CSG Systems International stock traded up $4.97 on Thursday, reaching $56.06. 174,481 shares of the company were exchanged, compared to its average volume of 266,260. CSG Systems International has a 1-year low of $39.56 and a 1-year high of $56.17. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 24.81, a P/E/G ratio of 1.36 and a beta of 0.82. The company’s 50-day moving average is $47.78 and its two-hundred day moving average is $45.07. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.59 and a current ratio of 1.59.

CSG Systems International (NASDAQ:CSGS) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.11. CSG Systems International had a return on equity of 33.18% and a net margin of 5.53%. The business had revenue of $290.30 million during the quarter, compared to analyst estimates of $269.60 million. During the same period last year, the company posted $0.61 EPS. The company’s revenue was up 1.4% compared to the same quarter last year. As a group, research analysts expect that CSG Systems International will post 3.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CSG Systems International

Several hedge funds and other institutional investors have recently bought and sold shares of the company. LSV Asset Management lifted its stake in shares of 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 valued at $74,135,000 after buying an additional 29,723 shares in the last quarter. Boston Trust Walden Corp lifted its position in shares of CSG Systems International by 18.9% in the 2nd quarter. Boston Trust Walden Corp now owns 983,688 shares of the technology company’s stock worth $40,498,000 after purchasing an additional 156,222 shares during the period. Bank of New York Mellon Corp lifted its position in 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 valued at $30,665,000 after acquiring an additional 173,944 shares during the period. Lazard Asset Management LLC lifted 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 acquiring an additional 28,666 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in CSG Systems International by 3.7% during the 1st quarter. BNP Paribas Financial Markets now owns 46,549 shares of the technology company’s stock valued at $2,399,000 after acquiring an additional 1,644 shares during the period. Institutional investors and hedge funds own 91.07% of the company’s stock.

About CSG Systems International

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.