Summit Global Investments Boosts Stock Position in CSG Systems International, Inc. (NASDAQ:CSGS)

Summit Global Investments lifted its holdings in CSG Systems International, Inc. (NASDAQ:CSGSGet Rating) by 37.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 14,600 shares of the technology company’s stock after acquiring an additional 4,000 shares during the quarter. Summit Global Investments’ holdings in CSG Systems International were worth $841,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Retirement Planning Co of New England Inc. purchased a new stake in CSG Systems International in the 4th quarter worth approximately $39,000. Curbstone Financial Management Corp increased its stake in CSG Systems International by 6.3% during the 4th quarter. Curbstone Financial Management Corp now owns 17,770 shares of the technology company’s stock valued at $1,024,000 after purchasing an additional 1,060 shares in the last quarter. Strs Ohio raised its holdings in CSG Systems International by 6.6% in the fourth quarter. Strs Ohio now owns 19,400 shares of the technology company’s stock worth $1,117,000 after buying an additional 1,200 shares during the last quarter. Dean Investment Associates LLC grew its holdings in shares of CSG Systems International by 3.5% during the fourth quarter. Dean Investment Associates LLC now owns 58,781 shares of the technology company’s stock valued at $3,387,000 after buying an additional 1,986 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of CSG Systems International by 6.9% during the third quarter. UBS Asset Management Americas Inc. now owns 34,489 shares of the technology company’s stock valued at $1,662,000 after acquiring an additional 2,238 shares in the last quarter. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ CSGS opened at $60.84 on Friday. CSG Systems International, Inc. has a 12-month low of $42.58 and a 12-month high of $65.95. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 33.25 and a beta of 0.78. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $61.86 and a 200 day moving average of $59.10.

CSG Systems International (NASDAQ:CSGSGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The technology company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.63 by $0.09. The firm had revenue of $246.36 million during the quarter, compared to analyst estimates of $251.90 million. CSG Systems International had a return on equity of 20.67% and a net margin of 5.56%. Sell-side analysts predict that CSG Systems International, Inc. will post 3.13 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 29th. Investors of record on Thursday, June 16th will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, June 15th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.74%. CSG Systems International’s dividend payout ratio (DPR) is presently 57.92%.

Several research firms have recently weighed in on CSGS. Zacks Investment Research cut CSG Systems International from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. StockNews.com cut shares of CSG Systems International from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 14th.

In other CSG Systems International news, COO Kenneth M. Kennedy sold 9,885 shares of the firm’s stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $58.06, for a total transaction of $573,923.10. Following the sale, the chief operating officer now owns 165,274 shares in the company, valued at approximately $9,595,808.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.35% of the company’s stock.

CSG Systems International Company Profile (Get Rating)

CSG Systems International, Inc provides revenue management and digital monetization, customer engagement, 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 based platform; related solutions, including field force automation, analytics, electronic bill presentment, ACH, etc.

Further Reading

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Institutional Ownership by Quarter for CSG Systems International (NASDAQ:CSGS)

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