Royal Bank of Canada Boosts CSG Systems International (NASDAQ:CSGS) Price Target to $69.00

CSG Systems International (NASDAQ:CSGS) had its price objective boosted by Royal Bank of Canada from $58.00 to $69.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

CSGS has been the topic of several other reports. StockNews.com cut shares of CSG Systems International from a “strong-buy” rating to a “buy” rating in a report on Thursday. Wells Fargo & Company upped their price target on shares of CSG Systems International from $51.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday. 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 report on Thursday. Benchmark reaffirmed a “buy” rating and issued a $75.00 price target on shares of CSG Systems International in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald increased their target price on shares of CSG Systems International from $64.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.17.

CSG Systems International Trading Up 5.5 %

NASDAQ CSGS opened at $65.06 on Thursday. The company’s fifty day simple moving average is $53.54 and its 200-day simple moving average is $50.23. CSG Systems International has a 52 week low of $39.56 and a 52 week high of $65.53. 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 cap of $1.89 billion, a P/E ratio of 28.66, a PEG ratio of 1.61 and a beta of 0.89.

CSG Systems International (NASDAQ:CSGS) last posted its earnings results on Wednesday, February 5th. The technology company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. CSG Systems International had a net margin of 5.52% and a return on equity of 32.77%. Equities research analysts predict that CSG Systems International will post 3.44 EPS for the current fiscal year.

CSG Systems International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.97%. This is a boost from CSG Systems International’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, March 19th. CSG Systems International’s dividend payout ratio is 52.86%.

Hedge Funds Weigh In On CSG Systems International

Institutional investors have recently modified their holdings of the company. Independence Bank of Kentucky bought a new position in shares of CSG Systems International during the fourth quarter worth about $80,000. TD Private Client Wealth LLC grew its position in shares of CSG Systems International by 38.0% during the third quarter. TD Private Client Wealth LLC now owns 2,128 shares of the technology company’s stock worth $104,000 after acquiring an additional 586 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of CSG Systems International during the third quarter worth about $294,000. Handelsbanken Fonder AB grew its position in shares of CSG Systems International by 15.9% during the fourth quarter. Handelsbanken Fonder AB now owns 8,030 shares of the technology company’s stock worth $410,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. grew its position in shares of CSG Systems International by 39.8% during the third quarter. Cornercap Investment Counsel Inc. now owns 10,538 shares of the technology company’s stock worth $513,000 after acquiring an additional 3,001 shares during 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.