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

Shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) reached a new 52-week high during 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 changing hands. The stock had previously closed at $29.61.

Other analysts have also issued research reports about the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Consensus Cloud Solutions in a research report on Wednesday, January 21st. Wall Street Zen upgraded Consensus Cloud Solutions from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Finally, Wedbush boosted their price target 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CCSI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in 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 acquiring an additional 468 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Consensus Cloud Solutions by 4.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,499 shares of the company’s stock worth $245,000 after acquiring an additional 473 shares in the last quarter. First Trust Advisors LP raised its position in shares of Consensus Cloud Solutions by 0.9% during the 3rd quarter. First Trust Advisors LP now owns 58,614 shares of the company’s stock worth $1,721,000 after acquiring an additional 504 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Consensus Cloud Solutions by 3.9% in the third quarter. Franklin Resources Inc. now owns 14,066 shares of the company’s stock valued at $413,000 after purchasing an additional 529 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Consensus Cloud Solutions by 40.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,978 shares of the company’s stock worth $46,000 after purchasing an additional 570 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Consensus Cloud Solutions Stock Down 1.7%

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

Consensus Cloud Solutions (NASDAQ:CCSI) last released its quarterly earnings data on Monday, February 9th. The company reported $1.41 earnings per share (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 company had revenue of $87.07 million during the quarter, compared to the consensus estimate of $86.62 million. As a group, equities research analysts expect that Consensus Cloud Solutions, Inc. will post 5.17 EPS for the current fiscal 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.