CSG Systems International (NASDAQ:CSGS) Downgraded to Buy Rating by StockNews.com

CSG Systems International (NASDAQ:CSGS) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

A number of other research firms also recently weighed in on CSGS. Wells Fargo & Company upped their price target on shares of CSG Systems International from $43.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Cantor Fitzgerald raised their price objective on shares of CSG Systems International from $62.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and issued a $75.00 price target on shares of CSG Systems International in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada increased their price target on CSG Systems International from $52.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

CSG Systems International Trading Down 1.8 %

Shares of CSGS stock traded down $0.99 during trading hours on Tuesday, reaching $54.72. 230,443 shares of the stock traded hands, compared to its average volume of 265,376. The business has a fifty day moving average price of $50.75 and a 200 day moving average price of $46.43. 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 has a 1-year low of $39.56 and a 1-year high of $57.15. The firm has a market capitalization of $1.59 billion, a PE ratio of 24.11, a PEG ratio of 1.60 and a beta of 0.86.

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

Hedge Funds Weigh In On CSG Systems International

Several large investors have recently bought and sold shares of the stock. Comerica Bank increased its holdings in shares of CSG Systems International by 34.9% during the 1st quarter. Comerica Bank now owns 21,954 shares of the technology company’s stock worth $1,132,000 after purchasing an additional 5,676 shares during the period. Wedge Capital Management L L P NC lifted its position in shares of CSG Systems International by 23.2% in the 2nd quarter. Wedge Capital Management L L P NC now owns 28,916 shares of the technology company’s stock worth $1,190,000 after acquiring an additional 5,451 shares during the period. Boston Trust Walden Corp grew its holdings in shares of CSG Systems International by 18.9% during the 2nd quarter. Boston Trust Walden Corp now owns 983,688 shares of the technology company’s stock worth $40,498,000 after purchasing an additional 156,222 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of CSG Systems International by 30.5% during the second quarter. Bank of New York Mellon Corp now owns 744,837 shares of the technology company’s stock valued at $30,665,000 after purchasing an additional 173,944 shares during the period. Finally, Stoneridge Investment Partners LLC acquired a new position in shares of CSG Systems International in the second quarter valued at $243,000. 91.07% of the stock is currently owned by institutional investors and hedge funds.

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.