CSG Systems International, Inc. (CSGS) to Issue Quarterly Dividend of $0.28 on June 29th

CSG Systems International, Inc. (NASDAQ:CSGS – Get Rating) declared a quarterly dividend on Tuesday, May 23rd, Zacks reports. Investors of record on Friday, June 16th will be given a dividend of 0.28 per share by the technology company on Thursday, June 29th. This represents a $1.12 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Thursday, June 15th.

CSG Systems International has increased its dividend payment by an average of 6.0% per year over the last three years and has increased its dividend annually for the last 10 consecutive years. CSG Systems International has a dividend payout ratio of 29.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect CSG Systems International to earn $2.96 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 37.8%.

CSG Systems International Price Performance

CSGS stock opened at $49.01 on Thursday. CSG Systems International has a 1 year low of $48.18 and a 1 year high of $66.58. The company has a market cap of $1.55 billion, a P/E ratio of 25.66 and a beta of 0.86. The firm has a 50-day moving average of $51.83 and a 200 day moving average of $55.98. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.66 and a quick ratio of 1.66.

Wall Street Analyst Weigh In

CSGS has been the subject of a number of research reports. Stifel Nicolaus decreased their price target on shares of CSG Systems International from $60.00 to $56.00 in a research note on Thursday, May 4th. Cantor Fitzgerald started coverage on shares of CSG Systems International in a research note on Tuesday, April 4th. They set an “overweight” rating for the company. StockNews.com started coverage on shares of CSG Systems International in a research note on Thursday, May 18th. They set a “buy” rating for the company. Finally, Benchmark reaffirmed a “buy” rating and set a $73.00 target price on shares of CSG Systems International in a research note on Tuesday, January 31st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.00.

Insider Buying and Selling at CSG Systems International

In other news, COO Kenneth M. Kennedy sold 9,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $49.06, for a total transaction of $441,540.00. Following the sale, the chief operating officer now owns 185,466 shares in the company, valued at $9,098,961.96. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.49% of the company’s stock.

Institutional Investors Weigh In On CSG Systems International

A number of institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of CSG Systems International by 0.7% during the 1st quarter. Geode Capital Management LLC now owns 648,661 shares of the technology company’s stock worth $34,833,000 after acquiring an additional 4,510 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 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 worth $33,262,000 after acquiring an additional 22,220 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of CSG Systems International by 4.0% during the 1st quarter. Ameriprise Financial Inc. now owns 202,840 shares of the technology company’s stock worth $10,893,000 after acquiring an additional 7,858 shares during the last quarter. Credit Suisse AG boosted its stake in shares of CSG Systems International by 25.9% during the 4th quarter. Credit Suisse AG now owns 43,855 shares of the technology company’s stock worth $2,509,000 after acquiring an additional 9,016 shares during the last quarter. Finally, Willis Investment Counsel boosted its stake in shares of CSG Systems International by 47.7% during the 1st quarter. Willis Investment Counsel now owns 33,575 shares of the technology company’s stock worth $2,134,000 after acquiring an additional 10,839 shares during the last quarter. Hedge funds and other institutional investors own 94.79% of the company’s stock.

About CSG Systems International

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CSG Systems International, Inc is a purpose-driven, SaaS platform company, which engages in providing business support solutions serving the communications industry. It focuses on revenue management and digital monetization, customer experience, and payment solutions providers. The company was founded on October 17, 1994 and is headquartered in Englewood, CO.