Consensus Cloud Solutions (NASDAQ:CCSI) Hits New 1-Year High Following Analyst Upgrade

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) shares hit a new 52-week high during mid-day 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 research analysts have also commented on the stock. Wall Street Zen upgraded shares of Consensus Cloud Solutions from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. Weiss Ratings restated a “hold (c)” rating on shares of Consensus Cloud Solutions in a research report on Wednesday, January 21st. Finally, Wedbush increased their price objective 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. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Consensus Cloud Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $35.67.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Consensus Cloud Solutions by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,810 shares of the company’s stock valued at $249,000 after purchasing an additional 468 shares during the period. Jones Financial Companies Lllp increased its holdings in Consensus Cloud Solutions by 149,428.6% in the first quarter. Jones Financial Companies Lllp now owns 10,467 shares of the company’s stock valued at $242,000 after buying an additional 10,460 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Consensus Cloud Solutions during the 1st quarter valued at approximately $632,000. 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. Finally, Strs Ohio purchased a new stake in shares of Consensus Cloud Solutions during the 1st quarter worth approximately $134,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Consensus Cloud Solutions Stock Down 1.7%

The firm has a 50 day moving average of $22.94 and a two-hundred day moving average of $24.72. The stock has a market capitalization of $553.29 million, a PE ratio of 6.69 and a beta of 1.55. The company has a current ratio of 1.79, a quick ratio of 1.84 and a debt-to-equity ratio of 40.03.

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