Royal Bank of Canada Increases CSG Systems International (NASDAQ:CSGS) Price Target to $58.00

CSG Systems International (NASDAQ:CSGS) had its price objective increased by equities research analysts at Royal Bank of Canada from $52.00 to $58.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 3.26% from the stock’s current price.

Several other equities analysts have also recently commented on CSGS. Wells Fargo & Company raised their price target on shares of CSG Systems International from $43.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday. StockNews.com upgraded shares of CSG Systems International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Benchmark restated a “buy” rating and issued a $75.00 price objective on shares of CSG Systems International in a research note on Tuesday. Finally, Cantor Fitzgerald lifted their target price on CSG Systems International from $62.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, CSG Systems International currently has a consensus rating of “Buy” and a consensus target price of $61.60.

CSG Systems International Trading Up 9.9 %

Shares of CSGS stock traded up $5.08 on Thursday, hitting $56.17. The stock had a trading volume of 240,690 shares, compared to its average volume of 266,499. The company’s 50 day moving average price is $47.78 and its 200-day moving average price is $45.07. CSG Systems International has a 1 year low of $39.56 and a 1 year high of $56.17. The firm has a market capitalization of $1.66 billion, a P/E ratio of 25.10, a P/E/G ratio of 1.39 and a beta of 0.82. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.59 and a quick ratio of 1.59.

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

Hedge Funds Weigh In On CSG Systems International

Hedge funds have recently made changes to their positions in the stock. LSV Asset Management grew its stake in shares of CSG Systems International by 2.1% in the first quarter. LSV Asset Management now owns 1,438,395 shares of the technology company’s stock valued at $74,135,000 after buying an additional 29,723 shares in the last quarter. Boston Trust Walden Corp grew its holdings in 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 acquiring an additional 156,222 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in CSG Systems International by 30.5% in 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 buying an additional 173,944 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of CSG Systems International by 116.2% in the 1st quarter. Lazard Asset Management LLC now owns 53,332 shares of the technology company’s stock valued at $2,748,000 after acquiring an additional 28,666 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in CSG Systems International by 3.7% during 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 during the last quarter. Institutional investors and hedge funds own 91.07% of the company’s stock.

CSG Systems International Company Profile

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.