CSG Systems International (NASDAQ:CSGS) Given New $65.00 Price Target at Wells Fargo & Company

CSG Systems International (NASDAQ:CSGS) had its target price upped by Wells Fargo & Company from $51.00 to $65.00 in a report published on Thursday,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

CSGS has been the subject of several other reports. 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. StockNews.com lowered shares of CSG Systems International from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Royal Bank of Canada boosted their target price on shares of CSG Systems International from $52.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald boosted their target price on shares of CSG Systems International from $64.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, CSG Systems International currently has an average rating of “Moderate Buy” and an average target price of $71.17.

CSG Systems International Stock Performance

CSG Systems International stock opened at $65.06 on Thursday. CSG Systems International has a 12-month low of $39.56 and a 12-month high of $65.53. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 1.61 and a beta of 0.89. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.58 and a quick ratio of 1.58. The firm’s fifty day moving average price is $53.54 and its 200 day moving average price is $50.23.

CSG Systems International (NASDAQ:CSGS) last released its quarterly earnings results on Wednesday, February 5th. The technology company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.20. CSG Systems International had a net margin of 5.52% and a return on equity of 32.77%. On average, research analysts forecast 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. Investors of record on Wednesday, March 19th will be issued a $0.32 dividend. This is an increase from CSG Systems International’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Wednesday, March 19th. CSG Systems International’s payout ratio is presently 52.86%.

Institutional Investors Weigh In On CSG Systems International

A number of large investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB raised its holdings in shares of CSG Systems International by 0.6% during the third quarter. Wilmington Savings Fund Society FSB now owns 49,812 shares of the technology company’s stock valued at $2,423,000 after acquiring an additional 302 shares during the period. TD Private Client Wealth LLC grew its position in 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 valued at $104,000 after purchasing an additional 586 shares in the last quarter. Willis Investment Counsel grew its position in CSG Systems International by 4.3% during the fourth quarter. Willis Investment Counsel now owns 16,276 shares of the technology company’s stock valued at $832,000 after purchasing an additional 668 shares in the last quarter. Handelsbanken Fonder AB grew its position 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, Fort Washington Investment Advisors Inc. OH grew its position in CSG Systems International by 0.4% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 389,369 shares of the technology company’s stock valued at $19,901,000 after purchasing an additional 1,420 shares in the last quarter. Institutional investors and hedge funds 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.