Consensus Cloud Solutions (NASDAQ:CCSI) Hits New 1-Year High – What’s Next?

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $30.54 and last traded at $30.7240, with a volume of 41034 shares changing hands. The stock had previously closed at $29.22.

Analyst Ratings Changes

Several analysts have commented on CCSI shares. Wall Street Zen upgraded Consensus Cloud Solutions from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. BTIG Research increased their price objective on Consensus Cloud Solutions from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Wedbush boosted 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, Weiss Ratings restated a “hold (c)” rating on shares of Consensus Cloud Solutions in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

Consensus Cloud Solutions Stock Performance

The company has a market cap of $567.04 million, a P/E ratio of 6.93 and a beta of 1.55. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 40.03. The business has a fifty day simple moving average of $23.48 and a two-hundred day simple moving average of $25.03.

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

Institutional Investors Weigh In On Consensus Cloud Solutions

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

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.