Lazard Asset Management LLC Trims Stake in CSG Systems International, Inc. (NASDAQ:CSGS)

Lazard Asset Management LLC reduced its holdings in shares of CSG Systems International, Inc. (NASDAQ:CSGS - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,218 shares of the technology company's stock after selling 7,377 shares during the period. Lazard Asset Management LLC owned 0.14% of CSG Systems International worth $2,054,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Independence Bank of Kentucky purchased a new position in shares of CSG Systems International during the fourth quarter valued at approximately $80,000. Handelsbanken Fonder AB increased its position in CSG Systems International by 15.9% during the 4th quarter. Handelsbanken Fonder AB now owns 8,030 shares of the technology company's stock valued at $410,000 after buying an additional 1,100 shares in the last quarter. Willis Investment Counsel raised its stake in CSG Systems International by 4.3% during the fourth quarter. Willis Investment Counsel now owns 16,276 shares of the technology company's stock valued at $832,000 after buying an additional 668 shares during the last quarter. Amundi raised its stake in CSG Systems International by 1.0% during the fourth quarter. Amundi now owns 18,027 shares of the technology company's stock valued at $910,000 after buying an additional 179 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in CSG Systems International by 6.4% in the fourth quarter. MetLife Investment Management LLC now owns 17,809 shares of the technology company's stock worth $910,000 after acquiring an additional 1,066 shares in the last quarter. Institutional investors own 91.07% of the company's stock.

Insider Activity at CSG Systems International

In other CSG Systems International news, Director Ronald Cooper sold 9,000 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $66.62, for a total value of $599,580.00. Following the transaction, the director now directly owns 41,561 shares of the company's stock, valued at approximately $2,768,793.82. This trade represents a 17.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.60% of the stock is owned by company insiders.

CSG Systems International Stock Performance

Shares of NASDAQ CSGS traded down $0.43 during trading on Friday, reaching $63.16. 32,127 shares of the company traded hands, compared to its average volume of 310,060. The firm has a 50 day simple moving average of $60.85 and a 200-day simple moving average of $58.08. CSG Systems International, Inc. has a 52-week low of $39.56 and a 52-week high of $67.60. The stock has a market capitalization of $1.83 billion, a PE ratio of 20.78, a P/E/G ratio of 1.68 and a beta of 0.87. The company has a quick ratio of 1.58, a current ratio of 1.46 and a debt-to-equity ratio of 1.88.

CSG Systems International (NASDAQ:CSGS - Get Free Report) last issued 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 company had revenue of $271.55 million for the quarter, compared to analysts' expectations of $274.10 million. CSG Systems International had a net margin of 7.25% and a return on equity of 39.42%. The firm's quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $1.01 earnings per share. Equities research analysts anticipate that CSG Systems International, Inc. will post 3.83 earnings per share for the current year.

CSG Systems International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th were issued a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $1.28 annualized dividend and a dividend yield of 2.03%. This is a positive change from CSG Systems International's previous quarterly dividend of $0.30. CSG Systems International's payout ratio is presently 43.69%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CSGS shares. Northland Securities reaffirmed an "outperform" rating and issued a $80.00 price target (up previously from $78.00) on shares of CSG Systems International in a research report on Thursday, February 6th. Wells Fargo & Company decreased 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 report on Tuesday, April 22nd. Stifel Nicolaus increased their price target on shares of CSG Systems International from $60.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Wall Street Zen downgraded shares of CSG Systems International from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada upped their price objective on CSG Systems International from $58.00 to $69.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price 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.