CSG Systems International (NASDAQ:CSGS) Price Target Raised to $65.00 at Wells Fargo & Company

CSG Systems International (NASDAQ:CSGS) had its target price raised by analysts at Wells Fargo & Company from $51.00 to $65.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 0.16% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. Northland Securities reaffirmed an “outperform” rating and set a $80.00 price target (up from $78.00) on shares of CSG Systems International in a research note on Thursday. Benchmark reaffirmed a “buy” rating and issued a $75.00 price target on shares of CSG Systems International in a research note on Tuesday, November 5th. StockNews.com cut shares of CSG Systems International from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Royal Bank of Canada raised their target price on shares of CSG Systems International from $52.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald increased their price objective on CSG Systems International from $64.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.00.

CSG Systems International Price Performance

Shares of NASDAQ:CSGS traded up $3.44 during mid-day trading on Thursday, reaching $65.10. The stock had a trading volume of 147,153 shares, compared to its average volume of 260,751. The business’s 50 day moving average price is $53.40 and its 200 day moving average price is $50.15. CSG Systems International has a 1 year low of $39.56 and a 1 year high of $65.00. The company has a market cap of $1.89 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 1.61 and a beta of 0.89. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.84.

CSG Systems International (NASDAQ:CSGS) last issued its quarterly earnings data on Wednesday, February 5th. The technology company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.20. CSG Systems International had a return on equity of 32.77% and a net margin of 5.52%. Research analysts expect that CSG Systems International will post 3.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in CSG Systems International in the third quarter valued at approximately $840,000. Cornercap Investment Counsel Inc. raised its holdings in shares of CSG Systems International by 39.8% during the third quarter. Cornercap Investment Counsel Inc. now owns 10,538 shares of the technology company’s stock worth $513,000 after purchasing an additional 3,001 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of CSG Systems International in the 3rd quarter valued at about $294,000. Martingale Asset Management L P acquired a new position in CSG Systems International in the third quarter valued at approximately $866,000. Finally, Dean Investment Associates LLC increased its holdings in shares of CSG Systems International by 116.1% during the 3rd quarter. Dean Investment Associates LLC now owns 119,248 shares of the technology company’s stock valued at $5,801,000 after purchasing an additional 64,066 shares in the last quarter. 91.07% of the stock is owned by institutional investors and hedge funds.

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.