CSG Systems International (NASDAQ:CSGS) Price Target Cut to $62.00

CSG Systems International (NASDAQ:CSGS) had its price target decreased by investment analysts at Cantor Fitzgerald from $63.00 to $62.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 48.68% from the company’s previous close.

CSGS has been the subject of a number of other reports. Wells Fargo & Company cut their price target on shares of CSG Systems International from $50.00 to $48.00 and set an “equal weight” rating for the company in a report on Thursday. Royal Bank of Canada started coverage on shares of CSG Systems International in a research note on Wednesday, March 27th. They set an “outperform” rating and a $61.00 target price for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, CSG Systems International presently has a consensus rating of “Moderate Buy” and an average price target of $62.50.

CSG Systems International Price Performance

Shares of CSG Systems International stock traded down $0.34 on Thursday, hitting $41.70. The company had a trading volume of 451,877 shares, compared to its average volume of 239,657. CSG Systems International has a 52 week low of $41.52 and a 52 week high of $69.35. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.74 and a quick ratio of 1.54. The company has a market cap of $1.22 billion, a PE ratio of 19.04, a PEG ratio of 1.29 and a beta of 0.83. The business has a 50-day simple moving average of $50.29 and a 200-day simple moving average of $51.03.

CSG Systems International (NASDAQ:CSGS) last issued its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.04. The company had revenue of $273.36 million for the quarter, compared to analysts’ expectations of $273.92 million. CSG Systems International had a return on equity of 28.77% and a net margin of 5.56%. Research analysts expect that CSG Systems International will post 3.26 EPS for the current fiscal year.

Institutional Trading of CSG Systems International

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets raised its position in CSG Systems International by 3.7% during the first quarter. BNP Paribas Financial Markets now owns 46,549 shares of the technology company’s stock valued at $2,399,000 after buying an additional 1,644 shares during the period. New York State Teachers Retirement System increased its holdings in shares of CSG Systems International by 3.8% in the 3rd quarter. New York State Teachers Retirement System now owns 68,910 shares of the technology company’s stock valued at $3,523,000 after purchasing an additional 2,524 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of CSG Systems International in the first quarter worth approximately $190,000. Boston Trust Walden Corp boosted its holdings in shares of CSG Systems International by 1.0% during the fourth quarter. Boston Trust Walden Corp now owns 832,194 shares of the technology company’s stock worth $44,281,000 after purchasing an additional 8,395 shares during the period. Finally, Bahl & Gaynor Inc. grew its position in CSG Systems International by 5.0% during the fourth quarter. Bahl & Gaynor Inc. now owns 508,748 shares of the technology company’s stock valued at $27,070,000 after purchasing an additional 24,385 shares in the last quarter. Institutional investors and hedge funds own 91.07% of the company’s stock.

About CSG Systems International

CSG Systems International, Inc, together with its subsidiaries, provides revenue management and digital monetization, customer experience, and payment solutions primarily to the communications industry in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers Advanced Convergent Platform, a private SaaS platform; and related solutions, including service technician management, analytics, electronic bill presentment, etc.