New York State Common Retirement Fund Cuts Stock Position in CSG Systems International, Inc. (NASDAQ:CSGS)

New York State Common Retirement Fund trimmed its stake in shares of CSG Systems International, Inc. (NASDAQ:CSGS - Free Report) by 7.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 156,855 shares of the technology company's stock after selling 13,025 shares during the period. New York State Common Retirement Fund owned approximately 0.55% of CSG Systems International worth $9,485,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CSGS. USA Financial Formulas purchased a new stake in CSG Systems International during the first quarter valued at approximately $48,000. TD Private Client Wealth LLC increased its stake in shares of CSG Systems International by 21.3% in the first quarter. TD Private Client Wealth LLC now owns 2,124 shares of the technology company's stock worth $128,000 after purchasing an additional 373 shares in the last quarter. Praxis Investment Management Inc. purchased a new stake in shares of CSG Systems International in the first quarter worth $206,000. SG Americas Securities LLC purchased a new stake in shares of CSG Systems International in the first quarter worth $315,000. Finally, Harbor Capital Advisors Inc. increased its stake in shares of CSG Systems International by 20.0% in the first quarter. Harbor Capital Advisors Inc. now owns 6,379 shares of the technology company's stock worth $386,000 after purchasing an additional 1,064 shares in the last quarter. 91.07% of the stock is owned by hedge funds and other institutional investors.

CSG Systems International Trading Down 1.3%

CSGS stock traded down $0.82 during trading on Friday, hitting $61.78. The company had a trading volume of 182,430 shares, compared to its average volume of 254,587. The firm has a market capitalization of $1.79 billion, a P/E ratio of 21.09, a PEG ratio of 1.60 and a beta of 0.89. CSG Systems International, Inc. has a 52-week low of $42.47 and a 52-week high of $67.60. The company has a 50 day simple moving average of $64.27 and a 200-day simple moving average of $61.11. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.90.

CSG Systems International (NASDAQ:CSGS - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.14. CSG Systems International had a net margin of 6.95% and a return on equity of 39.79%. The business had revenue of $271.55 million for the quarter, compared to analysts' expectations of $274.10 million. During the same period last year, the business earned $1.01 EPS. The company's revenue was up 1.5% compared to the same quarter last year. As a group, research analysts forecast that CSG Systems International, Inc. will post 3.83 earnings per share 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. Shareholders of record on Wednesday, June 18th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Wednesday, June 18th. CSG Systems International's dividend payout ratio is presently 43.69%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CSGS. Wall Street Zen upgraded shares of CSG Systems International from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 29th. Sidoti upgraded shares of CSG Systems International to a "strong-buy" rating in a research report on Monday, May 19th. Wolfe Research began coverage on shares of CSG Systems International in a research report on Tuesday, July 8th. They set a "peer perform" rating for the company. Finally, Wells Fargo & Company dropped their target price on shares of 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. Two analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $70.71.

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.