Wells Fargo & Company Forecasts Strong Price Appreciation for CSG Systems International (NASDAQ:CSGS) Stock

CSG Systems International (NASDAQ:CSGS) had its price target hoisted by equities research analysts at Wells Fargo & Company from $43.00 to $51.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 9.03% from the company’s current price.

Several other brokerages have also recently weighed in on CSGS. Benchmark reissued a “buy” rating and set a $75.00 price target on shares of CSG Systems International in a research report on Tuesday. Cantor Fitzgerald increased their price target on CSG Systems International from $62.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Royal Bank of Canada dropped their price target on CSG Systems International from $61.00 to $52.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, StockNews.com upgraded CSG Systems International from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, CSG Systems International has an average rating of “Buy” and an average target price of $60.40.

CSG Systems International Trading Up 9.7 %

Shares of NASDAQ CSGS traded up $4.97 during mid-day trading on Thursday, reaching $56.06. The company had a trading volume of 174,481 shares, compared to its average volume of 266,260. CSG Systems International has a 52 week low of $39.56 and a 52 week high of $56.17. The business’s 50-day moving average is $47.78 and its 200-day moving average is $45.07. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 1.36 and a beta of 0.82. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.95.

CSG Systems International (NASDAQ:CSGS) last posted its earnings results on Wednesday, August 7th. The technology company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.11. CSG Systems International had a net margin of 5.53% and a return on equity of 33.18%. The firm had revenue of $290.30 million during the quarter, compared to analyst estimates of $269.60 million. During the same period in the previous year, the firm earned $0.61 EPS. The business’s quarterly revenue was up 1.4% on a year-over-year basis. Equities analysts expect that CSG Systems International will post 3.43 earnings per share for the current year.

Institutional Investors Weigh In On CSG Systems International

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its stake in CSG Systems International by 3.7% in the first quarter. BNP Paribas Financial Markets now owns 46,549 shares of the technology company’s stock valued at $2,399,000 after purchasing an additional 1,644 shares in the last quarter. LSV Asset Management raised its holdings in CSG Systems International by 2.1% in the 1st quarter. LSV Asset Management now owns 1,438,395 shares of the technology company’s stock valued at $74,135,000 after acquiring an additional 29,723 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of CSG Systems International by 31.8% in the 1st quarter. Quantbot Technologies LP now owns 19,037 shares of the technology company’s stock worth $981,000 after buying an additional 4,590 shares in the last quarter. Sciencast Management LP acquired a new stake in CSG Systems International during the 1st quarter valued at $233,000. Finally, SG Americas Securities LLC boosted its position in CSG Systems International by 88.0% in the 1st quarter. SG Americas Securities LLC now owns 3,627 shares of the technology company’s stock valued at $187,000 after buying an additional 1,698 shares during the last quarter. 91.07% of the stock is 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.