Smith Asset Management Group LP Has $3,256,000 Position in CSG Systems International Inc. (CSGS)
Smith Asset Management Group LP boosted its stake in shares of CSG Systems International Inc. (NASDAQ:CSGS) by 3.2% during the second quarter, Holdings Channel reports. The institutional investor owned 80,777 shares of the company’s stock after buying an additional 2,500 shares during the period. Smith Asset Management Group LP’s holdings in CSG Systems International were worth $3,256,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Meeder Asset Management Inc. bought a new stake in shares of CSG Systems International during the first quarter valued at approximately $264,000. Highland Capital Management LLC bought a new stake in shares of CSG Systems International during the second quarter valued at approximately $265,000. Pacad Investment Ltd. bought a new stake in shares of CSG Systems International during the first quarter valued at approximately $325,000. Capstone Asset Management Co. increased its stake in shares of CSG Systems International by 2.4% in the second quarter. Capstone Asset Management Co. now owns 9,973 shares of the company’s stock valued at $402,000 after buying an additional 230 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of CSG Systems International by 92.0% in the second quarter. BNP Paribas Arbitrage SA now owns 11,046 shares of the company’s stock valued at $445,000 after buying an additional 5,293 shares in the last quarter.
Shares of CSG Systems International Inc. (NASDAQ:CSGS) traded up 0.88% during midday trading on Thursday, reaching $44.12. The company had a trading volume of 256,075 shares. The company’s 50-day moving average is $42.59 and its 200-day moving average is $42.31. The firm has a market cap of $1.35 billion, a P/E ratio of 20.35 and a beta of 0.81. CSG Systems International Inc. has a 52-week low of $30.06 and a 52-week high of $46.54.
CSG Systems International (NASDAQ:CSGS) last posted its earnings results on Wednesday, August 3rd. The company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.08. The firm had revenue of $190.30 million for the quarter, compared to analyst estimates of $185.50 million. CSG Systems International had a return on equity of 31.47% and a net margin of 9.56%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 earnings per share. Equities research analysts expect that CSG Systems International Inc. will post $2.65 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, September 14th will be issued a dividend of $0.185 per share. The ex-dividend date of this dividend is Monday, September 12th. This represents a $0.74 annualized dividend and a yield of 1.68%. CSG Systems International’s dividend payout ratio is presently 34.10%.
Several brokerages have recently commented on CSGS. Stifel Nicolaus reduced their target price on CSG Systems International from $49.00 to $47.00 and set a “buy” rating for the company in a report on Thursday. Zacks Investment Research raised CSG Systems International from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Monday, August 8th.
In other CSG Systems International news, insider Rolland B. Johns sold 1,099 shares of CSG Systems International stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $40.31, for a total transaction of $44,300.69. Following the transaction, the insider now directly owns 23,305 shares in the company, valued at $939,424.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.25% of the company’s stock.
CSG Systems International Company Profile
CSG Systems International, Inc is a provider of business support solutions primarily serving the communications industry. The Company’s solutions coordinate and manage various aspects of service providers’ customer interactions, from the activation of customer accounts, to the support of various service activities, and through the presentment, collection and accounts receivables management of monthly customer statements.
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