Livforsakringsbolaget Skandia Omsesidigt Raises Position in CSG Systems International, Inc. $CSGS

Key Points

• Livforsakringsbolaget Skandia Omsesidigt boosted its stake in CSG Systems International by 36.1% to 113,750 shares (about $7.32M), and institutional investors now own roughly 91.07% of the stock.
• CSG beat expectations last quarter with $1.53 EPS (vs. $1.33 est.) and $323.09M in revenue (vs. $296.25M), while the company carries a $2.28B market cap and a P/E of 40.16.
• CSG raised its quarterly dividend to $0.34 (annualized $1.36, ~1.7% yield) with an ex-dividend date of March 18, and Wall Street consensus is a Hold with a $72.43 target after recent downgrades.

Livforsakringsbolaget Skandia Omsesidigt increased its stake in CSG Systems International, Inc. (NASDAQ:CSGS - Free Report) by 36.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 113,750 shares of the technology company's stock after purchasing an additional 30,150 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt owned approximately 0.40% of CSG Systems International worth $7,323,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CSGS. Fort Washington Investment Advisors Inc. OH increased its position in CSG Systems International by 28.7% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 377,361 shares of the technology company's stock worth $24,295,000 after buying an additional 84,240 shares during the last quarter. Willis Investment Counsel lifted its position in shares of CSG Systems International by 91.2% during the 2nd quarter. Willis Investment Counsel now owns 35,341 shares of the technology company's stock valued at $2,308,000 after buying an additional 16,862 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in shares of CSG Systems International by 43.2% during the 3rd quarter. Wedge Capital Management L L P NC now owns 36,120 shares of the technology company's stock worth $2,325,000 after acquiring an additional 10,894 shares during the period. Hillsdale Investment Management Inc. grew its stake in shares of CSG Systems International by 12.7% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 120,300 shares of the technology company's stock worth $7,745,000 after acquiring an additional 13,600 shares during the period. Finally, Leuthold Group LLC grew its stake in shares of CSG Systems International by 2.4% during the 2nd quarter. Leuthold Group LLC now owns 43,593 shares of the technology company's stock worth $2,847,000 after acquiring an additional 1,014 shares during the period. 91.07% of the stock is owned by institutional investors.

CSG Systems International Trading Down 0.1%

Shares of CSG Systems International stock opened at $79.92 on Wednesday. The company's 50-day moving average price is $79.73 and its 200-day moving average price is $74.68. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 1.90. CSG Systems International, Inc. has a 12-month low of $54.65 and a 12-month high of $80.67. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 40.16, a PEG ratio of 1.89 and a beta of 0.87.

CSG Systems International (NASDAQ:CSGS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The technology company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.33 by $0.20. The company had revenue of $323.09 million during the quarter, compared to analysts' expectations of $296.25 million. CSG Systems International had a net margin of 4.57% and a return on equity of 36.85%. On average, equities analysts expect that CSG Systems International, Inc. will post 3.83 earnings per share for the current fiscal year.

CSG Systems International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be given a dividend of $0.34 per share. This is an increase from CSG Systems International's previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, March 18th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.7%. CSG Systems International's dividend payout ratio (DPR) is presently 68.34%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut CSG Systems International from a "buy (b)" rating to a "hold (c+)" rating in a research note on Monday, February 23rd. One equities research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $72.43.

CSG Systems International Profile

CSG Systems International NASDAQ: CSGS is a global provider of business support systems and digital monetization solutions designed for communications and media service providers. Headquartered in Englewood, Colorado, the company delivers a suite of subscription billing, customer care, revenue management and digital commerce offerings that enable operators to launch, manage and monetize connectivity, entertainment and IoT services. CSG's software platforms are built to support high-volume transaction processing, real-time rating and modern customer engagement capabilities.

Since its incorporation in 1982, CSG has expanded its footprint across North America, Latin America, Europe, the Middle East, Africa and the Asia-Pacific region.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.