CSG Systems International, Inc. (NASDAQ:CSGS) Announces $0.28 Quarterly Dividend

CSG Systems International, Inc. (NASDAQ:CSGS – Get Rating) declared a quarterly dividend on Tuesday, May 23rd, Zacks reports. Shareholders of record on Friday, June 16th will be given a dividend of 0.28 per share by the technology company on Thursday, June 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Thursday, June 15th.

CSG Systems International has increased its dividend by an average of 6.0% annually over the last three years and has increased its dividend every year for the last 10 years. CSG Systems International has a payout ratio of 29.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect CSG Systems International to earn $2.96 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 37.8%.

CSG Systems International Stock Performance

CSGS opened at $49.01 on Thursday. The firm has a market cap of $1.55 billion, a P/E ratio of 25.66 and a beta of 0.86. CSG Systems International has a 1-year low of $48.18 and a 1-year high of $66.58. The company has a 50 day simple moving average of $51.83 and a two-hundred day simple moving average of $55.98. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.66 and a quick ratio of 1.66.

Insider Buying and Selling

In related news, COO Kenneth M. Kennedy sold 9,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $49.06, for a total transaction of $441,540.00. Following the completion of the transaction, the chief operating officer now owns 185,466 shares in the company, valued at $9,098,961.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.49% of the stock is owned by company insiders.

Hedge Funds Weigh In On CSG Systems International

Institutional investors and hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors grew its stake in shares of CSG Systems International by 201.0% in the 2nd quarter. Captrust Financial Advisors now owns 4,978 shares of the technology company’s stock worth $297,000 after buying an additional 3,324 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in shares of CSG Systems International in the 3rd quarter valued at about $553,000. MetLife Investment Management LLC raised its holdings in shares of CSG Systems International by 52.3% in the 1st quarter. MetLife Investment Management LLC now owns 16,943 shares of the technology company’s stock valued at $1,077,000 after purchasing an additional 5,817 shares in the last quarter. State of Tennessee Treasury Department raised its holdings in shares of CSG Systems International by 6.6% in the 4th quarter. State of Tennessee Treasury Department now owns 18,742 shares of the technology company’s stock valued at $1,072,000 after purchasing an additional 1,159 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC grew its position in shares of CSG Systems International by 150.0% in the 1st quarter. BNP Paribas Arbitrage SNC now owns 20,227 shares of the technology company’s stock worth $1,086,000 after buying an additional 12,135 shares during the last quarter. 94.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on CSGS. StockNews.com began coverage on shares of CSG Systems International in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Benchmark reiterated a “buy” rating and issued a $73.00 price target on shares of CSG Systems International in a research report on Tuesday, January 31st. Stifel Nicolaus dropped their price target on shares of CSG Systems International from $60.00 to $56.00 in a research report on Thursday, May 4th. Finally, Cantor Fitzgerald assumed coverage on shares of CSG Systems International in a research report on Tuesday, April 4th. They set an “overweight” rating for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.00.

CSG Systems International Company Profile

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CSG Systems International, Inc is a purpose-driven, SaaS platform company, which engages in providing business support solutions serving the communications industry. It focuses on revenue management and digital monetization, customer experience, and payment solutions providers. The company was founded on October 17, 1994 and is headquartered in Englewood, CO.