Cornercap Investment Counsel Inc. Buys 3,001 Shares of CSG Systems International, Inc. (NASDAQ:CSGS)

Cornercap Investment Counsel Inc. raised its stake in shares of CSG Systems International, Inc. (NASDAQ:CSGS) by 39.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 10,538 shares of the technology company’s stock after acquiring an additional 3,001 shares during the period. Cornercap Investment Counsel Inc.’s holdings in CSG Systems International were worth $513,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CSGS. Central Pacific Bank Trust Division increased its holdings in CSG Systems International by 20.3% in the 3rd quarter. Central Pacific Bank Trust Division now owns 3,611 shares of the technology company’s stock worth $176,000 after acquiring an additional 610 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of CSG Systems International by 88.0% in the first quarter. SG Americas Securities LLC now owns 3,627 shares of the technology company’s stock valued at $187,000 after purchasing an additional 1,698 shares in the last quarter. EMC Capital Management lifted its position in CSG Systems International by 28.1% in the first quarter. EMC Capital Management now owns 4,808 shares of the technology company’s stock worth $248,000 after buying an additional 1,056 shares during the last quarter. Stoneridge Investment Partners LLC bought a new stake in CSG Systems International in the second quarter worth $243,000. Finally, Comerica Bank lifted its position in CSG Systems International by 34.9% in the first quarter. Comerica Bank now owns 21,954 shares of the technology company’s stock worth $1,132,000 after buying an additional 5,676 shares during the last quarter. Institutional investors own 91.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on CSGS shares. Wells Fargo & Company lifted their target price on CSG Systems International from $43.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Royal Bank of Canada lifted their target price on CSG Systems International from $52.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Benchmark reiterated a “buy” rating and issued a $75.00 target price on shares of CSG Systems International in a research note on Tuesday, November 5th. StockNews.com upgraded CSG Systems International from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Cantor Fitzgerald boosted their price target on CSG Systems International from $62.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CSG Systems International presently has an average rating of “Buy” and an average price target of $61.60.

CSG Systems International Stock Performance

Shares of CSG Systems International stock opened at $54.48 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.84. CSG Systems International, Inc. has a 52 week low of $39.56 and a 52 week high of $57.15. The firm’s 50 day moving average is $48.87 and its two-hundred day moving average is $45.42. The firm has a market capitalization of $1.58 billion, a P/E ratio of 24.00, a P/E/G ratio of 1.59 and a beta of 0.82.

CSG Systems International (NASDAQ:CSGS) last issued its quarterly earnings data on Wednesday, November 6th. The technology company reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. CSG Systems International had a net margin of 5.52% and a return on equity of 32.77%. The company had revenue of $295.14 million for the quarter, compared to the consensus estimate of $283.13 million. During the same period last year, the firm posted $0.74 EPS. CSG Systems International’s revenue for the quarter was up 2.9% on a year-over-year basis. Research analysts forecast that CSG Systems International, Inc. will post 3.48 EPS for the current fiscal year.

CSG Systems International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Friday, September 13th. CSG Systems International’s payout ratio is currently 52.86%.

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.