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

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

CSGS has been the topic of a number of other reports. Wells Fargo & Company boosted their price target on shares of CSG Systems International from $43.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Thursday. Cantor Fitzgerald upped 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. Benchmark reiterated a “buy” rating and set a $75.00 price target on shares of CSG Systems International in a research report on Tuesday. Finally, StockNews.com upgraded CSG Systems International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, CSG Systems International presently has a consensus rating of “Buy” and an average target price of $61.60.

CSG Systems International Stock Performance

Shares of CSG Systems International stock traded up $5.08 during trading on Thursday, hitting $56.17. 240,690 shares of the stock were exchanged, compared to its average volume of 266,499. The stock’s fifty day moving average is $47.78 and its 200 day moving average is $45.07. CSG Systems International has a 12 month low of $39.56 and a 12 month high of $56.17. The stock has a market cap of $1.66 billion, a PE 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 quick ratio of 1.59 and a current ratio of 1.59.

CSG Systems International (NASDAQ:CSGS) last released 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 company had revenue of $290.30 million during the quarter, compared to analysts’ expectations of $269.60 million. CSG Systems International had a return on equity of 33.18% and a net margin of 5.53%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.61 earnings per share. As a group, sell-side analysts anticipate that CSG Systems International will post 3.43 EPS for the current year.

Hedge Funds Weigh In On CSG Systems International

A number of hedge funds and other institutional investors have recently modified their holdings of CSGS. Central Pacific Bank Trust Division increased its holdings in shares of CSG Systems International by 20.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 3,611 shares of the technology company’s stock valued at $176,000 after acquiring an additional 610 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of CSG Systems International by 88.0% during the 1st quarter. SG Americas Securities LLC now owns 3,627 shares of the technology company’s stock worth $187,000 after buying an additional 1,698 shares during the period. Sciencast Management LP bought a new position in shares of CSG Systems International during the 1st quarter worth approximately $233,000. EMC Capital Management lifted its position in shares of CSG Systems International by 28.1% during the 1st quarter. EMC Capital Management now owns 4,808 shares of the technology company’s stock worth $248,000 after buying an additional 1,056 shares during the period. Finally, Stoneridge Investment Partners LLC bought a new position in shares of CSG Systems International during the 2nd quarter worth approximately $243,000. 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.