CSG Systems International (NASDAQ:CSGS) Sees Unusually-High Trading Volume - Here's What Happened

Shares of CSG Systems International, Inc. (NASDAQ:CSGS - Get Free Report) saw strong trading volume on Wednesday . 887,718 shares were traded during mid-day trading, an increase of 246% from the previous session's volume of 256,768 shares.The stock last traded at $64.16 and had previously closed at $62.33.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wells Fargo & Company reduced their target price on CSG Systems International from $65.00 to $58.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen raised CSG Systems International from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 29th. Sidoti raised shares of CSG Systems International to a "strong-buy" rating in a research report on Monday, May 19th. Finally, Wolfe Research started coverage on shares of CSG Systems International in a research note on Tuesday, July 8th. They set a "peer perform" rating for the company. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, CSG Systems International currently has an average rating of "Buy" and an average target price of $70.71.

CSG Systems International Stock Down 1.9%

The business has a 50-day moving average price of $63.99 and a 200 day moving average price of $61.52. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $1.80 billion, a P/E ratio of 21.19, a P/E/G ratio of 1.61 and a beta of 0.89.

CSG Systems International (NASDAQ:CSGS - Get Free Report) last released its earnings results on Wednesday, May 7th. The technology company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.14. The firm had revenue of $271.55 million during the quarter, compared to analyst estimates of $274.10 million. CSG Systems International had a net margin of 6.95% and a return on equity of 39.79%. The business's revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business earned $1.01 EPS. On average, equities analysts expect that CSG Systems International, Inc. will post 3.83 EPS for the current fiscal year.

CSG Systems International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Wednesday, June 18th were issued a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.28 annualized dividend and a yield of 2.06%. CSG Systems International's dividend payout ratio (DPR) is presently 43.69%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in CSG Systems International in the 1st quarter valued at $315,000. GAMMA Investing LLC grew its position in shares of CSG Systems International by 6,481.5% during the first quarter. GAMMA Investing LLC now owns 37,975 shares of the technology company's stock worth $2,296,000 after buying an additional 37,398 shares in the last quarter. Martingale Asset Management L P lifted its stake in CSG Systems International by 32.0% during the fourth quarter. Martingale Asset Management L P now owns 23,492 shares of the technology company's stock worth $1,201,000 after purchasing an additional 5,700 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in CSG Systems International in the first quarter worth $1,495,000. Finally, KLP Kapitalforvaltning AS acquired a new position in CSG Systems International during the fourth quarter worth about $925,000. 91.07% of the stock is owned by hedge funds and other institutional investors.

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.