Consensus Cloud Solutions (NASDAQ:CCSI) Hits New 52-Week High – What’s Next?

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) shares hit 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

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

Consensus Cloud Solutions Price Performance

The stock has a market cap of $570.98 million, a P/E ratio of 6.96 and a beta of 1.55. The business has a 50-day simple moving average of $23.74 and a 200 day simple moving average of $25.11. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 40.03.

Consensus Cloud Solutions (NASDAQ:CCSI) last posted its quarterly earnings data on Monday, February 9th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.10. The company had revenue of $87.07 million for the quarter, compared to analyst estimates of $86.62 million. Consensus Cloud Solutions had a negative return on equity of 579.06% and a net margin of 24.17%. On average, analysts forecast that Consensus Cloud Solutions, Inc. will post 5.17 earnings per share for the current year.

Institutional Investors Weigh In On Consensus Cloud Solutions

Several large investors have recently added to or reduced their stakes in the business. Heron Bay Capital Management grew its holdings in Consensus Cloud Solutions by 4.1% in the fourth quarter. Heron Bay Capital Management now owns 1,253,487 shares of the company’s stock worth $27,351,000 after purchasing an additional 49,761 shares during the period. LSV Asset Management boosted its position in shares of Consensus Cloud Solutions by 81.2% during the 4th quarter. LSV Asset Management now owns 716,585 shares of the company’s stock worth $15,636,000 after purchasing an additional 321,200 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Consensus Cloud Solutions by 7.7% in the 2nd quarter. Geode Capital Management LLC now owns 505,506 shares of the company’s stock valued at $11,659,000 after buying an additional 36,357 shares during the period. State Street Corp grew its stake in shares of Consensus Cloud Solutions by 3.4% in the 4th quarter. State Street Corp now owns 497,026 shares of the company’s stock valued at $10,845,000 after buying an additional 16,421 shares during the period. Finally, New South Capital Management Inc. increased its position in Consensus Cloud Solutions by 9.5% in the 4th quarter. New South Capital Management Inc. now owns 470,453 shares of the company’s stock valued at $10,265,000 after buying an additional 40,879 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

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.