CSG Systems International (NASDAQ:CSGS) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of CSG Systems International (NASDAQ:CSGS) from a sell rating to a hold rating in a report released on Friday, November 2nd.

Several other research analysts also recently commented on CSGS. ValuEngine downgraded shares of CSG Systems International from a hold rating to a sell rating in a report on Thursday, August 23rd. Sidoti initiated coverage on shares of CSG Systems International in a report on Wednesday, August 15th. They set a buy rating and a $50.00 price objective for the company. Finally, Zacks Investment Research raised shares of CSG Systems International from a sell rating to a hold rating in a report on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $50.67.

Shares of NASDAQ CSGS traded up $0.44 during midday trading on Friday, hitting $36.71. 308,054 shares of the stock traded hands, compared to its average volume of 146,597. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 18.17 and a beta of 0.87. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.68 and a quick ratio of 2.68. CSG Systems International has a one year low of $33.33 and a one year high of $48.82.

CSG Systems International (NASDAQ:CSGS) last released its quarterly earnings results on Wednesday, November 7th. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.14. The firm had revenue of $213.00 million for the quarter, compared to analysts’ expectations of $216.87 million. CSG Systems International had a return on equity of 21.99% and a net margin of 7.23%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. Equities research analysts anticipate that CSG Systems International will post 2.36 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in CSGS. First Hawaiian Bank bought a new stake in CSG Systems International in the third quarter worth about $187,000. Raymond James Trust N.A. purchased a new position in shares of CSG Systems International during the third quarter worth approximately $215,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of CSG Systems International during the second quarter worth approximately $272,000. Xact Kapitalforvaltning AB increased its position in shares of CSG Systems International by 29.6% during the first quarter. Xact Kapitalforvaltning AB now owns 6,130 shares of the technology company’s stock worth $278,000 after acquiring an additional 1,400 shares during the period. Finally, Wedge Capital Management L L P NC increased its position in shares of CSG Systems International by 24.7% during the second quarter. Wedge Capital Management L L P NC now owns 7,125 shares of the technology company’s stock worth $291,000 after acquiring an additional 1,411 shares during the period. 96.95% of the stock is owned by institutional investors and hedge funds.

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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