CSG Systems International, Inc. (NASDAQ:CSGS) Position Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of CSG Systems International, Inc. (NASDAQ:CSGS) by 30.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 470,755 shares of the technology company’s stock after selling 202,770 shares during the period. Bank of New York Mellon Corp owned about 1.64% of CSG Systems International worth $28,467,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. acquired a new position in CSG Systems International in the 4th quarter worth approximately $4,222,000. GAMMA Investing LLC boosted its stake in CSG Systems International by 6,481.5% in the 1st quarter. GAMMA Investing LLC now owns 37,975 shares of the technology company’s stock worth $2,296,000 after purchasing an additional 37,398 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in CSG Systems International in the 1st quarter worth approximately $1,695,000. KLP Kapitalforvaltning AS acquired a new position in CSG Systems International in the 4th quarter worth approximately $925,000. Finally, Martingale Asset Management L P boosted its stake in CSG Systems International by 32.0% in the 4th quarter. Martingale Asset Management L P now owns 23,492 shares of the technology company’s stock worth $1,201,000 after purchasing an additional 5,700 shares during the period. 91.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on CSGS. Wall Street Zen raised shares of CSG Systems International from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 29th. Wells Fargo & Company decreased their price objective on shares of CSG Systems International from $65.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Sidoti raised shares of CSG Systems International to a “strong-buy” rating in a research note on Monday, May 19th. Finally, Wolfe Research initiated coverage on shares of CSG Systems International in a report on Tuesday, July 8th. They set a “peer perform” rating on the stock. Two research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $70.71.

CSG Systems International Trading Up 2.3%

CSG Systems International stock opened at $62.68 on Thursday. The stock has a market cap of $1.82 billion, a P/E ratio of 21.39, a P/E/G ratio of 1.59 and a beta of 0.89. CSG Systems International, Inc. has a 12 month low of $42.47 and a 12 month high of $67.60. The company’s fifty day simple moving average is $64.38 and its 200-day simple moving average is $60.88. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.90.

CSG Systems International (NASDAQ:CSGS) last issued its quarterly earnings data on Wednesday, May 7th. The technology company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.14. The firm had revenue of $271.55 million during the quarter, compared to analysts’ expectations of $274.10 million. CSG Systems International had a net margin of 6.95% and a return on equity of 39.79%. CSG Systems International’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 earnings per share. As a group, sell-side analysts forecast that CSG Systems International, Inc. will post 3.83 EPS for the current fiscal year.

CSG Systems International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Wednesday, June 18th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Wednesday, June 18th. CSG Systems International’s dividend payout ratio is presently 43.69%.

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.