CSG Systems International, Inc. (NASDAQ:CSGS) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in CSG Systems International, Inc. (NASDAQ:CSGS - Free Report) by 30.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 470,755 shares of the technology company's stock after selling 202,770 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.64% of CSG Systems International worth $28,467,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Amundi boosted its stake in CSG Systems International by 1.0% in the 4th quarter. Amundi now owns 18,027 shares of the technology company's stock worth $910,000 after purchasing an additional 179 shares during the period. USA Financial Formulas bought a new position in shares of CSG Systems International during the 1st quarter valued at approximately $48,000. Rhumbline Advisers boosted its position in shares of CSG Systems International by 1.2% during the 1st quarter. Rhumbline Advisers now owns 79,976 shares of the technology company's stock valued at $4,836,000 after acquiring an additional 948 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of CSG Systems International by 20.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 6,379 shares of the technology company's stock valued at $386,000 after acquiring an additional 1,064 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of CSG Systems International by 6.4% during the 4th quarter. MetLife Investment Management LLC now owns 17,809 shares of the technology company's stock valued at $910,000 after acquiring an additional 1,066 shares during the last quarter. 91.07% of the stock is currently owned by institutional investors.

CSG Systems International Stock Down 1.3%

CSGS traded down $0.82 on Friday, hitting $61.78. The company had a trading volume of 182,430 shares, compared to its average volume of 254,587. The stock has a fifty day moving average price of $64.27 and a 200-day moving average price of $61.11. CSG Systems International, Inc. has a 12-month low of $42.47 and a 12-month high of $67.60. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 21.09, a P/E/G ratio of 1.60 and a beta of 0.89.

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

CSG Systems International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 18th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.07%. CSG Systems International's payout ratio is 43.69%.

Analyst Ratings Changes

CSGS has been the subject of a number of analyst reports. Sidoti upgraded CSG Systems International to a "strong-buy" rating in a research report on Monday, May 19th. Wells Fargo & Company lowered their price target on CSG Systems International from $65.00 to $58.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Wolfe Research initiated coverage on CSG Systems International in a research report on Tuesday, July 8th. They issued a "peer perform" rating for the company. Finally, Wall Street Zen upgraded CSG Systems International from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 29th. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $70.71.

CSG Systems International Company Profile

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.