Wells Fargo & Company Issues Pessimistic Forecast for CSG Systems International (NASDAQ:CSGS) Stock Price

CSG Systems International (NASDAQ:CSGS) had its price objective reduced by equities researchers at Wells Fargo & Company from $65.00 to $58.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 1.84% from the company’s previous close.

CSGS has been the subject of a number of other research reports. StockNews.com cut CSG Systems International from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Stifel Nicolaus upped their target price on CSG Systems International from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Northland Securities reiterated an “outperform” rating and set a $80.00 price target (up previously from $78.00) on shares of CSG Systems International in a report on Thursday, February 6th. Cantor Fitzgerald boosted their price objective on shares of CSG Systems International from $64.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Jefferies Financial Group started coverage on shares of CSG Systems International in a research note on Friday, February 21st. They issued a “buy” rating and a $75.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, CSG Systems International presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.71.

CSG Systems International Stock Up 1.4 %

CSG Systems International stock opened at $59.09 on Tuesday. The firm’s 50 day moving average price is $61.17 and its two-hundred day moving average price is $55.97. The firm has a market cap of $1.70 billion, a PE ratio of 19.44, a P/E/G ratio of 1.68 and a beta of 0.91. CSG Systems International has a twelve month low of $39.56 and a twelve month high of $67.60. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.58 and a current ratio of 1.46.

CSG Systems International (NASDAQ:CSGS) last issued its quarterly earnings data on Wednesday, February 5th. The technology company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.20. CSG Systems International had a net margin of 7.25% and a return on equity of 39.42%. On average, research analysts predict that CSG Systems International will post 3.83 EPS for the current fiscal year.

Insider Transactions at CSG Systems International

In related news, Director Ronald Cooper sold 9,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $66.62, for a total transaction of $599,580.00. Following the sale, the director now directly owns 41,561 shares in the company, valued at $2,768,793.82. This represents a 17.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.05% of the company’s stock.

Hedge Funds Weigh In On CSG Systems International

Institutional investors and hedge funds have recently bought and sold shares of the business. USA Financial Formulas bought a new stake in shares of CSG Systems International during the first quarter valued at approximately $48,000. Independence Bank of Kentucky bought a new position in CSG Systems International in the 4th quarter valued at $80,000. Praxis Investment Management Inc. acquired a new stake in shares of CSG Systems International in the 1st quarter valued at $206,000. SG Americas Securities LLC bought a new stake in shares of CSG Systems International during the first quarter worth $315,000. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of CSG Systems International by 20.0% during the first quarter. Harbor Capital Advisors Inc. now owns 6,379 shares of the technology company’s stock valued at $386,000 after acquiring an additional 1,064 shares during the period. Institutional investors and hedge funds own 91.07% of the company’s stock.

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.