Lazard Asset Management LLC Sells 7,377 Shares of CSG Systems International, Inc. (NASDAQ:CSGS)

Lazard Asset Management LLC decreased its holdings in CSG Systems International, Inc. (NASDAQ:CSGS - Free Report) by 15.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 about 0.14% of CSG Systems International worth $2,054,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Independence Bank of Kentucky bought a new stake in CSG Systems International in the fourth quarter valued at approximately $80,000. Handelsbanken Fonder AB raised its stake in CSG Systems International by 15.9% in the fourth 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 during the period. Willis Investment Counsel raised its stake in CSG Systems International by 4.3% in 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 period. MetLife Investment Management LLC raised its stake 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 valued at $910,000 after buying an additional 1,066 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in CSG Systems International in the fourth quarter valued at approximately $925,000. Institutional investors own 91.07% of the company's stock.

Insider Activity

In other news, Director Ronald Cooper sold 9,000 shares of CSG Systems International stock in a transaction on 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 owns 41,561 shares in the company, valued at approximately $2,768,793.82. This trade represents a 17.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.60% of the company's stock.

CSG Systems International Price Performance

NASDAQ:CSGS traded down $0.10 during trading hours on Friday, reaching $63.49. 152,418 shares of the company were exchanged, compared to its average volume of 264,301. The company has a market capitalization of $1.84 billion, a P/E ratio of 20.88, a P/E/G ratio of 1.68 and a beta of 0.87. CSG Systems International, Inc. has a 1-year low of $39.56 and a 1-year high of $67.60. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.46 and a quick ratio of 1.58. The business has a 50 day moving average of $60.90 and a 200 day moving average of $58.18.

CSG Systems International (NASDAQ:CSGS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The technology company reported $1.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.14. The business had revenue of $271.55 million for the quarter, compared to the consensus estimate of $274.10 million. CSG Systems International had a return on equity of 39.42% and a net margin of 7.25%. The firm's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 earnings per share. Research analysts forecast that CSG Systems International, Inc. will post 3.83 EPS for the current year.

CSG Systems International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Wednesday, March 19th. This is an increase from CSG Systems International's previous quarterly dividend of $0.30. CSG Systems International's dividend payout ratio (DPR) is currently 43.69%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. 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 note on Thursday, February 6th. Wall Street Zen lowered CSG Systems International from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 6th. Cantor Fitzgerald increased their target price on CSG Systems International from $64.00 to $72.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Jefferies Financial Group began coverage on CSG Systems International in a research note on Friday, February 21st. They set a "buy" rating and a $75.00 target price on the stock. Finally, Wells Fargo & Company lowered their target price on CSG Systems International from $65.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average 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.