Consensus Cloud Solutions (NASDAQ:CCSI) Sets New 52-Week High After Analyst Upgrade

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) shares reached a new 52-week high during trading on Tuesday after BTIG Research raised their price target on the stock from $37.00 to $40.00. BTIG Research currently has a buy rating on the stock. Consensus Cloud Solutions traded as high as $30.23 and last traded at $29.3140, with a volume of 37186 shares. The stock had previously closed at $29.61.

A number of other analysts also recently issued reports on CCSI. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Consensus Cloud Solutions in a report on Wednesday, January 21st. Wedbush raised their target price on Consensus Cloud Solutions from $26.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen upgraded Consensus Cloud Solutions from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $35.67.

Institutional Investors Weigh In On Consensus Cloud Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCSI. Quarry LP purchased a new position in shares of Consensus Cloud Solutions during the fourth quarter worth approximately $25,000. Tower Research Capital LLC TRC raised its position in Consensus Cloud Solutions by 40.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,978 shares of the company’s stock valued at $46,000 after purchasing an additional 570 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in Consensus Cloud Solutions during the 4th quarter worth $46,000. BNP Paribas Financial Markets grew its position in Consensus Cloud Solutions by 104.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,793 shares of the company’s stock worth $111,000 after purchasing an additional 1,942 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in Consensus Cloud Solutions during the 2nd quarter worth $112,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Consensus Cloud Solutions Trading Down 3.0%

The business’s 50 day simple moving average is $23.05 and its 200 day simple moving average is $24.79. The company has a debt-to-equity ratio of 40.03, a current ratio of 1.79 and a quick ratio of 1.84. The company has a market capitalization of $545.97 million, a price-to-earnings ratio of 6.60 and a beta of 1.55.

Consensus Cloud Solutions (NASDAQ:CCSI) last released its quarterly earnings results on Monday, February 9th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.10. The firm had revenue of $87.07 million for the quarter, compared to analyst estimates of $86.62 million. Consensus Cloud Solutions had a negative return on equity of 579.06% and a net margin of 24.17%. Research analysts anticipate that Consensus Cloud Solutions, Inc. will post 5.17 EPS for the current year.

About Consensus Cloud Solutions

Consensus Cloud Solutions (NASDAQ: CCSI) is a provider of cloud consulting and managed services focused on helping organizations accelerate digital transformation. The company specializes in designing, deploying and supporting cloud architectures that leverage leading public and private cloud platforms, including infrastructure as a service (IaaS), platform as a service (PaaS) and software as a service (SaaS) environments. Its end-to-end approach encompasses strategy, implementation and ongoing optimization to align technology investments with business objectives.

The firm’s core offerings include cloud migration and deployment, application modernization, data analytics and cybersecurity solutions.