Consensus Cloud Solutions (NASDAQ:CCSI) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Consensus Cloud Solutions (NASDAQ:CCSI) issued its quarterly earnings data on Monday. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.10, FiscalAI reports. Consensus Cloud Solutions had a negative return on equity of 234.27% and a net margin of 23.48%.The business had revenue of $87.07 million for the quarter, compared to analyst estimates of $86.62 million.

Consensus Cloud Solutions Stock Down 4.2%

CCSI opened at $22.68 on Tuesday. Consensus Cloud Solutions has a twelve month low of $17.84 and a twelve month high of $30.08. The company has a fifty day moving average of $22.44 and a 200-day moving average of $24.49. The stock has a market cap of $431.15 million, a PE ratio of 5.39 and a beta of 1.55.

Institutional Trading of Consensus Cloud Solutions

A number of large investors have recently bought and sold shares of CCSI. Aquatic Capital Management LLC increased its holdings in Consensus Cloud Solutions by 42.4% in the third quarter. Aquatic Capital Management LLC now owns 13,166 shares of the company’s stock worth $387,000 after purchasing an additional 3,923 shares in the last quarter. Creative Planning acquired a new stake in shares of Consensus Cloud Solutions during the 3rd quarter worth approximately $311,000. Harvest Fund Management Co. Ltd increased its stake in shares of Consensus Cloud Solutions by 8,917.8% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 16,232 shares of the company’s stock valued at $477,000 after acquiring an additional 16,052 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Consensus Cloud Solutions by 3.9% during the 3rd quarter. Franklin Resources Inc. now owns 14,066 shares of the company’s stock valued at $413,000 after acquiring an additional 529 shares during the period. Finally, Acadian Asset Management LLC lifted its position in shares of Consensus Cloud Solutions by 117.8% during the 1st quarter. Acadian Asset Management LLC now owns 15,416 shares of the company’s stock valued at $354,000 after acquiring an additional 8,339 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on CCSI shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Consensus Cloud Solutions in a research report on Wednesday, January 21st. Wall Street Zen raised shares of Consensus Cloud Solutions from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. Finally, Wedbush boosted their price objective on shares of Consensus Cloud Solutions from $26.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Consensus Cloud Solutions has an average rating of “Moderate Buy” and an average price target of $33.50.

Consensus Cloud Solutions Company Profile

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.