CSG Systems International, Inc. (NASDAQ:CSGS) to Issue $0.27 Quarterly Dividend

CSG Systems International, Inc. (NASDAQ:CSGSGet Rating) declared a quarterly dividend on Friday, May 20th, Zacks reports. Shareholders of record on Thursday, June 16th will be paid a dividend of 0.265 per share by the technology company on Wednesday, June 29th. This represents a $1.06 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Wednesday, June 15th.

CSG Systems International has increased its dividend by an average of 6.0% annually over the last three years and has raised its dividend every year for the last 9 years. CSG Systems International has a dividend payout ratio of 27.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect CSG Systems International to earn $3.37 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 31.5%.

Shares of CSG Systems International stock opened at $58.56 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $1.90 billion, a PE ratio of 32.00 and a beta of 0.78. CSG Systems International has a 52-week low of $42.58 and a 52-week high of $65.95. The company has a 50-day simple moving average of $62.14 and a two-hundred day simple moving average of $58.91.

Several research analysts have issued reports on the stock. Zacks Investment Research cut shares of CSG Systems International from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. StockNews.com cut shares of CSG Systems International from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 14th.

In related news, CAO David Neil Schaaf sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, February 25th. The shares were sold at an average price of $61.53, for a total transaction of $92,295.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Kenneth M. Kennedy sold 9,885 shares of the business’s stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $58.06, for a total transaction of $573,923.10. Following the sale, the chief operating officer now owns 165,274 shares of the company’s stock, valued at $9,595,808.44. The disclosure for this sale can be found here. 2.35% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CSGS. Credit Suisse AG grew its position in CSG Systems International by 3.7% during the fourth quarter. Credit Suisse AG now owns 30,893 shares of the technology company’s stock valued at $1,781,000 after buying an additional 1,099 shares during the period. Advisors Asset Management Inc. grew its position in CSG Systems International by 17.0% during the fourth quarter. Advisors Asset Management Inc. now owns 58,002 shares of the technology company’s stock valued at $3,342,000 after buying an additional 8,411 shares during the period. Parametric Portfolio Associates LLC grew its position in CSG Systems International by 14.1% during the fourth quarter. Parametric Portfolio Associates LLC now owns 155,943 shares of the technology company’s stock valued at $8,985,000 after buying an additional 19,265 shares during the period. California State Teachers Retirement System grew its position in CSG Systems International by 2.5% during the fourth quarter. California State Teachers Retirement System now owns 45,437 shares of the technology company’s stock valued at $2,618,000 after buying an additional 1,127 shares during the period. Finally, Bank of New York Mellon Corp grew its position in CSG Systems International by 4.4% during the first quarter. Bank of New York Mellon Corp now owns 523,227 shares of the technology company’s stock valued at $33,262,000 after buying an additional 22,220 shares during the period. Institutional investors own 97.23% of the company’s stock.

CSG Systems International Company Profile (Get Rating)

CSG Systems International, Inc provides revenue management and digital monetization, customer engagement, 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 based platform; related solutions, including field force automation, analytics, electronic bill presentment, ACH, etc.

Further Reading

Dividend History for CSG Systems International (NASDAQ:CSGS)

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