Consensus Cloud Solutions (NASDAQ:CCSI) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Consensus Cloud Solutions (NASDAQ:CCSI – Get Rating) from a hold rating to a buy rating in a research report report published on Wednesday, Zacks.com reports. They currently have $54.00 price objective on the stock.

According to Zacks, “Consensus Cloud Solutions Inc. is a provider of secure information-delivery services with Software-as-a-Service platform. It offers eFax, Consensus Unite, Consensus Signal and jSign. Consensus Cloud Solutions Inc. is based in LOS ANGELES. “

CCSI has been the subject of a number of other research reports. Wedbush cut their target price on shares of Consensus Cloud Solutions from $75.00 to $67.00 in a research note on Thursday, March 3rd. JMP Securities initiated coverage on Consensus Cloud Solutions in a research note on Thursday, March 3rd. They issued an outperform rating and a $70.00 price objective on the stock.

Shares of CCSI stock opened at 47.78 on Wednesday. The stock’s fifty day simple moving average is 55.32 and its 200 day simple moving average is 57.74. Consensus Cloud Solutions has a one year low of 34.81 and a one year high of 69.31.

Consensus Cloud Solutions (NASDAQ:CCSI – Get Rating) last issued its earnings results on Wednesday, March 2nd. The company reported 1.46 EPS for the quarter, beating the consensus estimate of 1.30 by 0.16. The firm had revenue of 89.00 million during the quarter, compared to analyst estimates of 88.20 million. Research analysts expect that Consensus Cloud Solutions will post 5.43 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. bought a new position in Consensus Cloud Solutions in the 1st quarter valued at $25,000. Meeder Asset Management Inc. bought a new position in Consensus Cloud Solutions in the first quarter valued at about $28,000. Sageworth Trust Co bought a new position in Consensus Cloud Solutions in the first quarter valued at about $30,000. Captrust Financial Advisors acquired a new stake in Consensus Cloud Solutions in the first quarter worth about $47,000. Finally, PNC Financial Services Group Inc. bought a new stake in Consensus Cloud Solutions during the 1st quarter worth about $59,000. Hedge funds and other institutional investors own 72.76% of the company’s stock.

About Consensus Cloud Solutions (Get Rating)

Consensus Cloud Solutions, Inc, together with its subsidiaries, provides information delivery services with a software-as-a-service platform worldwide. Its products and solutions include eFax, an online faxing solution, as well as MyFax, MetroFax, Sfax, SRfax, and other brands; eFax Corporate, a digital cloud-fax technology; jsign, which provides electronic and digital signature solutions; Unite, a single platform that allows the user to choose between several protocols to send and receive healthcare information in an environment that can integrate into an existing electronic health record (EHR) system or stand-alone if no EHR is present; Signal, a solution that integrates with a hospital's EHR system and uses rules-based triggering logic to automatically send admit, discharge, and transfer notifications using cloud fax and direct secure messaging technology; and Clarity that transforms unstructured documents into structured actionable data.

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