Wells Fargo & Company Raises CSG Systems International (NASDAQ:CSGS) Price Target to $65.00

CSG Systems International (NASDAQ:CSGS) had its price target boosted by equities research analysts at Wells Fargo & Company from $51.00 to $65.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective suggests a potential downside of 0.16% from the stock’s previous close.

CSGS has been the subject of a number of other reports. Royal Bank of Canada boosted their price objective on shares of CSG Systems International from $52.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Benchmark reissued a “buy” rating and issued a $75.00 price target on shares of CSG Systems International in a research note on Tuesday, November 5th. Cantor Fitzgerald raised their price objective on CSG Systems International from $64.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday. StockNews.com lowered CSG Systems International from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $80.00 price target (up from $78.00) on shares of CSG Systems International in a research note on Thursday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, CSG Systems International currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

CSG Systems International Price Performance

Shares of NASDAQ:CSGS traded up $3.44 during trading on Thursday, reaching $65.10. The company had a trading volume of 147,153 shares, compared to its average volume of 260,751. The company has a fifty day moving average of $53.40 and a two-hundred day moving average of $50.15. CSG Systems International has a 12 month low of $39.56 and a 12 month high of $65.00. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $1.89 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 1.61 and a beta of 0.89.

CSG Systems International (NASDAQ:CSGS) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.20 by $0.20. CSG Systems International had a return on equity of 32.77% and a net margin of 5.52%. Equities research analysts forecast that CSG Systems International will post 3.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Independence Bank of Kentucky bought a new stake in shares of CSG Systems International during the 4th quarter valued at about $80,000. TD Private Client Wealth LLC lifted its position in shares of CSG Systems International by 38.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,128 shares of the technology company’s stock valued at $104,000 after buying an additional 586 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of CSG Systems International during the 3rd quarter valued at approximately $294,000. Handelsbanken Fonder AB lifted its holdings in CSG Systems International by 15.9% during the fourth quarter. Handelsbanken Fonder AB now owns 8,030 shares of the technology company’s stock valued at $410,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. increased its stake in shares of CSG Systems International by 39.8% in the third quarter. Cornercap Investment Counsel Inc. now owns 10,538 shares of the technology company’s stock worth $513,000 after purchasing an additional 3,001 shares in the last quarter. Institutional investors 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.