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

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

Consensus Cloud Solutions Trading Down 4.2%

Shares of NASDAQ CCSI opened at $22.68 on Tuesday. The company has a market cap of $431.15 million, a price-to-earnings ratio of 5.39 and a beta of 1.55. Consensus Cloud Solutions has a 12 month low of $17.84 and a 12 month high of $30.08. The stock has a 50-day moving average price of $22.44 and a two-hundred day moving average price of $24.49.

Analyst Ratings Changes

A number of brokerages have issued reports on CCSI. Weiss Ratings reiterated a “hold (c)” rating on shares of Consensus Cloud Solutions in a research note on Wednesday, January 21st. Wedbush upped their price target on shares of Consensus Cloud Solutions from $26.00 to $35.00 and gave the stock 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 research report on Sunday, November 16th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Consensus Cloud Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $33.50.

Hedge Funds Weigh In On Consensus Cloud Solutions

A number of institutional investors have recently added to or reduced their stakes in CCSI. Arrowstreet Capital Limited Partnership boosted its position in Consensus Cloud Solutions by 4.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 319,391 shares of the company’s stock valued at $9,381,000 after buying an additional 13,984 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Consensus Cloud Solutions by 1.0% during the third quarter. Dimensional Fund Advisors LP now owns 296,876 shares of the company’s stock worth $8,719,000 after buying an additional 2,997 shares in the last quarter. Kent Lake PR LLC lifted its stake in shares of Consensus Cloud Solutions by 92.6% in the 2nd quarter. Kent Lake PR LLC now owns 250,000 shares of the company’s stock valued at $5,765,000 after acquiring an additional 120,200 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Consensus Cloud Solutions by 26.6% during the 2nd quarter. Bank of America Corp DE now owns 211,987 shares of the company’s stock valued at $4,888,000 after acquiring an additional 44,588 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Consensus Cloud Solutions by 239.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 170,445 shares of the company’s stock valued at $5,006,000 after acquiring an additional 120,205 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.