CSG Systems International, Inc. (NASDAQ:CSGS) Sees Significant Decline in Short Interest

CSG Systems International, Inc. (NASDAQ:CSGS) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 3,520,000 shares, a decrease of 7.9% from the March 15th total of 3,820,000 shares. Based on an average daily volume of 295,400 shares, the days-to-cover ratio is presently 11.9 days. Approximately 12.5% of the shares of the stock are sold short.

CSG Systems International Price Performance

Shares of NASDAQ CSGS traded up $0.23 during midday trading on Tuesday, reaching $47.77. 215,440 shares of the stock traded hands, compared to its average volume of 284,764. The company’s 50 day moving average is $51.65 and its 200 day moving average is $51.44. CSG Systems International has a one year low of $45.27 and a one year high of $69.35. The stock has a market capitalization of $1.40 billion, a PE ratio of 21.81, a P/E/G ratio of 1.48 and a beta of 0.82. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.54 and a quick ratio of 1.54.

CSG Systems International (NASDAQ:CSGS) last released its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04. CSG Systems International had a return on equity of 27.67% and a net margin of 5.67%. The company had revenue of $273.36 million for the quarter, compared to analyst estimates of $273.92 million. On average, equities research analysts anticipate that CSG Systems International will post 3.26 earnings per share for the current year.

CSG Systems International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from CSG Systems International’s previous quarterly dividend of $0.28. CSG Systems International’s dividend payout ratio is presently 54.79%.

Analysts Set New Price Targets

Several research firms have weighed in on CSGS. Wells Fargo & Company dropped their price target on CSG Systems International from $53.00 to $50.00 and set an “equal weight” rating for the company in a research note on Thursday, February 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $63.00 price target on shares of CSG Systems International in a research note on Thursday, February 8th. Finally, Royal Bank of Canada began coverage on CSG Systems International in a research report on Wednesday, March 27th. They set an “outperform” rating and a $61.00 target price for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $63.00.

Institutional Trading of CSG Systems International

Several hedge funds and other institutional investors have recently bought and sold shares of CSGS. Bank of New York Mellon Corp raised its holdings in CSG Systems International by 4.4% during the 1st quarter. Bank of New York Mellon Corp now owns 523,227 shares of the technology company’s stock valued at $33,262,000 after buying an additional 22,220 shares during the period. MetLife Investment Management LLC increased its stake in CSG Systems International by 52.3% in the first quarter. MetLife Investment Management LLC now owns 16,943 shares of the technology company’s stock worth $1,077,000 after purchasing an additional 5,817 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in CSG Systems International by 3.8% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,147,476 shares of the technology company’s stock worth $72,945,000 after purchasing an additional 42,139 shares during the period. Willis Investment Counsel increased its stake in CSG Systems International by 47.7% in the first quarter. Willis Investment Counsel now owns 33,575 shares of the technology company’s stock worth $2,134,000 after purchasing an additional 10,839 shares during the period. Finally, Credit Suisse AG increased its stake in CSG Systems International by 6.1% in the second quarter. Credit Suisse AG now owns 32,800 shares of the technology company’s stock worth $1,957,000 after purchasing an additional 1,896 shares during the period. Hedge funds and other institutional investors 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.