CSG Systems International, Inc. (CSGS) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of CSG Systems International, Inc. (NASDAQ:CSGS) from a buy rating to a hold rating in a research report report published on Thursday morning.
According to Zacks, “CSG Systems International Inc. is a leading provider of outsourced billing, customer care and print and mail solutions and services supporting the North American cable and direct broadcast satellite markets. CSG’s solutions support some of the world’s largest and most innovative providers of bundled multi-channel video, Internet, voice and IP-based services. CSG’s unique combination of solutions, services and expertise ensure that cable and satellite operators can continue to rapidly launch new service offerings, improve operational efficiencies and deliver a high-quality customer experience in a competitive and ever-changing marketplace. “
Shares of CSG Systems International (NASDAQ CSGS) opened at 40.48 on Thursday. The stock has a 50 day moving average price of $40.06 and a 200 day moving average price of $41.88. The stock has a market cap of $1.31 billion, a P/E ratio of 21.59 and a beta of 1.09. CSG Systems International has a 12 month low of $35.48 and a 12 month high of $51.34.
CSG Systems International (NASDAQ:CSGS) last posted its earnings results on Wednesday, May 3rd. The technology company reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by $0.08. The business had revenue of $192.50 million for the quarter, compared to analyst estimates of $192 million. CSG Systems International had a return on equity of 27.58% and a net margin of 8.03%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.77 earnings per share. Equities analysts anticipate that CSG Systems International will post $2.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 22nd. Shareholders of record on Wednesday, June 7th will be given a dividend of $0.1975 per share. This represents a $0.79 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Monday, June 5th. CSG Systems International’s payout ratio is 42.02%.
In other CSG Systems International news, EVP Kenneth M. Kennedy sold 3,891 shares of the stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $39.10, for a total transaction of $152,138.10. Following the transaction, the executive vice president now directly owns 49,609 shares of the company’s stock, valued at $1,939,711.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Donald Reed sold 5,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $41.53, for a total transaction of $207,650.00. Following the transaction, the director now directly owns 40,868 shares in the company, valued at $1,697,248.04. The disclosure for this sale can be found here. Corporate insiders own 2.57% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Elkfork Partners LLC acquired a new position in CSG Systems International during the fourth quarter valued at approximately $102,000. Meadow Creek Investment Management LLC increased its position in CSG Systems International by 16.0% in the first quarter. Meadow Creek Investment Management LLC now owns 2,958 shares of the technology company’s stock valued at $112,000 after buying an additional 408 shares during the last quarter. Strategic Investment Management LLC acquired a new position in CSG Systems International during the fourth quarter valued at approximately $210,000. Tudor Investment Corp ET AL acquired a new position in CSG Systems International during the first quarter valued at approximately $223,000. Finally, Jensen Investment Management Inc. increased its position in CSG Systems International by 14.9% in the first quarter. Jensen Investment Management Inc. now owns 11,560 shares of the technology company’s stock valued at $437,000 after buying an additional 1,500 shares during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.
CSG Systems International Company Profile
CSG Systems International, Inc (CSG) is a provider of business support solutions primarily serving the communications industry. The Company provides business support solutions (BSS) to the communications service providers (CSPs), as well as clients in various industries. CSG’s solutions coordinate and manage various aspects of a service provider’s customer interactions, from the initial activation of customer accounts, to the support and fulfillment of various services, and through the calculation, presentment, and accounts receivables management of monthly customer statements.
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