Consensus Cloud Solutions (NASDAQ:CCSI) Reaches New 52-Week High Following Analyst Upgrade

Shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) reached a new 52-week high 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 traded. The stock had previously closed at $29.61.

CCSI has been the topic of several other reports. Weiss Ratings restated a “hold (c)” rating on shares of Consensus Cloud Solutions in a research report on Wednesday, January 21st. Wedbush boosted their price objective on shares of Consensus Cloud Solutions from $26.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, Wall Street Zen upgraded shares of Consensus Cloud Solutions from a “hold” rating to a “buy” rating in a report on Sunday, November 16th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.67.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Quarry LP bought a new stake in Consensus Cloud Solutions in the 4th quarter valued at approximately $25,000. State of Alaska Department of Revenue acquired a new position in Consensus Cloud Solutions during the fourth quarter worth $46,000. Tower Research Capital LLC TRC grew its position in Consensus Cloud Solutions by 40.5% in the second 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 in the last quarter. BNP Paribas Financial Markets increased its stake in Consensus Cloud Solutions by 104.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,793 shares of the company’s stock valued at $111,000 after buying an additional 1,942 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in Consensus Cloud Solutions during the 2nd quarter worth about $112,000. 93.93% of the stock is currently owned by institutional investors.

Consensus Cloud Solutions Stock Down 1.3%

The firm’s 50-day simple moving average is $23.15 and its 200 day simple moving average is $24.81. The company has a debt-to-equity ratio of 40.03, a quick ratio of 1.84 and a current ratio of 1.79. The stock has a market capitalization of $534.78 million, a P/E ratio of 6.51 and a beta of 1.55.

Consensus Cloud Solutions (NASDAQ:CCSI) last released its earnings results on Monday, February 9th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.10. The business had revenue of $87.07 million for the quarter, compared to the consensus estimate of $86.62 million. Consensus Cloud Solutions had a negative return on equity of 579.06% and a net margin of 24.17%. As a group, research analysts expect 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.