Consensus Cloud Solutions (NASDAQ:CCSI) Reaches New 12-Month High – Here’s What Happened

Shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) hit a new 52-week high during trading on Wednesday . The company traded as high as $30.99 and last traded at $30.77, with a volume of 10912 shares traded. The stock had previously closed at $30.58.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CCSI shares. BTIG Research raised their price objective on shares of Consensus Cloud Solutions from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Consensus Cloud Solutions in a research note on Wednesday, January 21st. Wall Street Zen upgraded Consensus Cloud Solutions from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. Finally, Wedbush upped their price objective on Consensus Cloud Solutions from $26.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

Consensus Cloud Solutions Trading Up 1.9%

The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 40.03. The firm has a 50-day moving average of $24.32 and a 200 day moving average of $25.23. The company has a market cap of $587.99 million, a P/E ratio of 7.16 and a beta of 1.47.

Consensus Cloud Solutions (NASDAQ:CCSI) last released its quarterly earnings results on Monday, February 9th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $87.07 million for the quarter, compared to analyst estimates of $86.62 million. On average, analysts predict that Consensus Cloud Solutions, Inc. will post 5.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Consensus Cloud Solutions

A number of large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Consensus Cloud Solutions by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,810 shares of the company’s stock valued at $249,000 after acquiring an additional 468 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Consensus Cloud Solutions by 149,428.6% during 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 during the period. Jane Street Group LLC bought a new position in Consensus Cloud Solutions in the first quarter worth about $632,000. Acadian Asset Management LLC grew its stake in Consensus Cloud Solutions by 117.8% in the first quarter. Acadian Asset Management LLC now owns 15,416 shares of the company’s stock worth $354,000 after purchasing an additional 8,339 shares during the period. Finally, Strs Ohio bought a new stake in shares of Consensus Cloud Solutions in the 1st quarter worth approximately $134,000. 93.93% of the stock is currently owned by 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.