Ironwood Investment Management Lowers stake in CSG Systems International (CSGS)

CSG Systems International (CSGS) : Ironwood Investment Management reduced its stake in CSG Systems International by 20.86% during the most recent quarter end. The investment management company now holds a total of 48,671 shares of CSG Systems International which is valued at $1,962,901 after selling 12,825 shares in CSG Systems International , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.CSG Systems International makes up approximately 1.38% of Ironwood Investment Management’s portfolio.

Other Hedge Funds, Including , Arizona State Retirement System boosted its stake in CSGS in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 16,658 shares of CSG Systems International which is valued at $671,817. CSG Systems International makes up approx 0.01% of Arizona State Retirement System’s portfolio.Blair William Coil boosted its stake in CSGS in the latest quarter, The investment management firm added 333 additional shares and now holds a total of 9,418 shares of CSG Systems International which is valued at $385,008.River Road Asset Management reduced its stake in CSGS by selling 309,206 shares or 25.08% in the most recent quarter. The Hedge Fund company now holds 923,815 shares of CSGS which is valued at $38,033,464. CSG Systems International makes up approx 0.78% of River Road Asset Management’s portfolio.Sawgrass Asset Management reduced its stake in CSGS by selling 38,460 shares or 75.18% in the most recent quarter. The Hedge Fund company now holds 12,694 shares of CSGS which is valued at $512,838. CSG Systems International makes up approx 0.02% of Sawgrass Asset Management’s portfolio.

CSG Systems International opened for trading at $43.85 and hit $44.45 on the upside on Thursday, eventually ending the session at $44.42, with a gain of 1.60% or 0.7 points. The heightened volatility saw the trading volume jump to 2,23,323 shares. Company has a market cap of $1,437 M.

On the company’s financial health, CSG Systems International reported $0.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.62. The company had revenue of $190.30 million for the quarter, compared to analysts expectations of $185.50 million. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS.

Investors should note that on Aug 29, 2016, CSG Systems International announced a cash dividend of $0.1850. The company’s management has announced Sep 12, 2016 as the ex-dividend date and fixed the record date on Sep 14, 2016. The payable date has been fixed on Sep 29, 2016.

CSG Systems International Inc. (CSG) is a provider of business support solutions primarily to the communications industry. The Company’s solutions coordinate and manage many aspects of a service provider’s customer interactions from the initial activation of customer accounts to the support of various service activities and through the presentment collection and accounts receivables management of monthly customer statements. The Company’s primary product solutions include cable and satellite care and billing convergent rating and billing mediation and data management wholesale settlement and routing customer interaction management business intelligence and content management and monetization.

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