CSG Systems International, Inc. (CSGS) Shares Sold by Comerica Bank
Comerica Bank lowered its stake in shares of CSG Systems International, Inc. (NASDAQ:CSGS) by 8.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,483 shares of the technology company’s stock after selling 3,066 shares during the period. Comerica Bank owned about 0.10% of CSG Systems International worth $1,160,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. BTIM Corp. boosted its holdings in CSG Systems International by 64.8% during the third quarter. BTIM Corp. now owns 447,221 shares of the technology company’s stock worth $17,951,000 after buying an additional 175,800 shares in the last quarter. Foundry Partners LLC boosted its holdings in CSG Systems International by 2.5% during the third quarter. Foundry Partners LLC now owns 255,662 shares of the technology company’s stock worth $10,262,000 after buying an additional 6,168 shares in the last quarter. Raymond James Trust N.A. purchased a new stake in CSG Systems International during the third quarter worth about $215,000. First Hawaiian Bank purchased a new stake in CSG Systems International during the third quarter worth about $187,000. Finally, Schroder Investment Management Group boosted its holdings in CSG Systems International by 2.4% during the second quarter. Schroder Investment Management Group now owns 468,426 shares of the technology company’s stock worth $19,341,000 after buying an additional 11,056 shares in the last quarter. 99.64% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently commented on the stock. BidaskClub raised shares of CSG Systems International from a “sell” rating to a “hold” rating in a report on Tuesday, September 25th. Zacks Investment Research raised shares of CSG Systems International from a “sell” rating to a “hold” rating in a report on Monday, September 24th. ValuEngine raised shares of CSG Systems International from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Finally, Sidoti assumed coverage on shares of CSG Systems International in a report on Wednesday, August 15th. They issued a “buy” rating and a $50.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $48.33.
CSG Systems International (NASDAQ:CSGS) last announced its quarterly earnings results on Wednesday, November 7th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.14. CSG Systems International had a net margin of 7.23% and a return on equity of 21.86%. The company had revenue of $213.00 million for the quarter, compared to the consensus estimate of $216.87 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts predict that CSG Systems International, Inc. will post 2.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Wednesday, December 5th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Tuesday, December 4th. CSG Systems International’s dividend payout ratio (DPR) is presently 41.58%.
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About CSG Systems International
CSG Systems International, Inc provides business support solutions primarily to the communications industry in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company's services include Advanced Convergent Platform, a billing and customer care platform for cable and satellite providers; Ascendon, a software-as-a-service cloud-based platform that provides a trusted path to digital transformation; and Singleview solution to deliver real-time charging services.
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