Ameriprise Financial Inc. reduced its stake in CSG Systems International, Inc. (NASDAQ:CSGS) by 29.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 272,996 shares of the technology company’s stock after selling 115,913 shares during the period. Ameriprise Financial Inc. owned about 0.88% of CSG Systems International worth $10,321,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Elkfork Partners LLC acquired a new stake in shares of CSG Systems International during the fourth quarter valued at approximately $102,000. Meadow Creek Investment Management LLC boosted its stake in shares of CSG Systems International by 16.0% in the first quarter. Meadow Creek Investment Management LLC now owns 2,958 shares of the technology company’s stock valued at $112,000 after buying an additional 408 shares during the period. Strategic Investment Management LLC acquired a new stake in shares of CSG Systems International during the fourth quarter valued at approximately $210,000. Karp Capital Management Corp acquired a new stake in shares of CSG Systems International during the first quarter valued at approximately $471,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of CSG Systems International by 2.4% in the first quarter. Nisa Investment Advisors LLC now owns 18,240 shares of the technology company’s stock valued at $690,000 after buying an additional 420 shares during the period. Hedge funds and other institutional investors own 94.98% of the company’s stock.
Shares of CSG Systems International, Inc. (CSGS) opened at 40.57 on Friday. CSG Systems International, Inc. has a 12 month low of $35.48 and a 12 month high of $51.34. The company has a market capitalization of $1.31 billion, a PE ratio of 21.64 and a beta of 1.09. The firm has a 50-day moving average of $39.97 and a 200 day moving average of $41.95.
CSG Systems International (NASDAQ:CSGS) last posted its quarterly earnings results on Wednesday, May 3rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by $0.08. CSG Systems International had a net margin of 8.03% and a return on equity of 27.58%. The firm had revenue of $192.50 million during the quarter, compared to the consensus estimate of $192 million. During the same quarter in the prior year, the business earned $0.77 EPS. CSG Systems International’s revenue was up 3.4% on a year-over-year basis. On average, equities research analysts expect that CSG Systems International, Inc. will post $2.51 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 22nd. Shareholders of record on Wednesday, June 7th will be paid a $0.1975 dividend. This represents a $0.79 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Monday, June 5th. CSG Systems International’s payout ratio is 42.02%.
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Separately, Zacks Investment Research upgraded shares of CSG Systems International from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Tuesday, May 9th.
In other CSG Systems International news, CFO Randy Wiese sold 26,226 shares of the stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $38.48, for a total value of $1,009,176.48. Following the transaction, the chief financial officer now owns 127,724 shares of the company’s stock, valued at $4,914,819.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Donald Reed sold 5,000 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $41.53, for a total value of $207,650.00. Following the completion of the transaction, the director now directly owns 40,868 shares in the company, valued at approximately $1,697,248.04. The disclosure for this sale can be found here. Insiders sold 35,117 shares of company stock worth $1,368,965 in the last three months. Insiders own 2.57% of the company’s stock.
CSG Systems International Company Profile
CSG Systems International, Inc (CSG) is a provider of business support solutions primarily serving the communications industry. The Company provides business support solutions (BSS) to the communications service providers (CSPs), as well as clients in various industries. CSG’s solutions coordinate and manage various aspects of a service provider’s customer interactions, from the initial activation of customer accounts, to the support and fulfillment of various services, and through the calculation, presentment, and accounts receivables management of monthly customer statements.
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