Consensus Cloud Solutions (NASDAQ:CCSI) Sets New 12-Month High – Here’s Why

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

Analyst Upgrades and Downgrades

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

Consensus Cloud Solutions Price Performance

The business’s 50-day simple moving average is $24.66 and its two-hundred day simple moving average is $25.32. The stock has a market cap of $595.16 million, a price-to-earnings ratio of 7.25 and a beta of 1.47. The company has a debt-to-equity ratio of 40.03, a current ratio of 1.79 and a quick ratio of 1.79.

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

Institutional Trading of Consensus Cloud Solutions

A number of hedge funds have recently made changes to their positions in the company. New South Capital Management Inc. raised its holdings in Consensus Cloud Solutions by 38.6% in the 3rd quarter. New South Capital Management Inc. now owns 429,574 shares of the company’s stock valued at $12,617,000 after buying an additional 119,580 shares during the last quarter. Geode Capital Management LLC increased its position in 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 acquiring an additional 36,357 shares during the period. Brandywine Global Investment Management LLC increased its position in Consensus Cloud Solutions by 19.8% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 85,080 shares of the company’s stock valued at $1,962,000 after acquiring an additional 14,080 shares during the period. LSV Asset Management raised its stake in shares of Consensus Cloud Solutions by 14.4% during the second quarter. LSV Asset Management now owns 372,501 shares of the company’s stock valued at $8,590,000 after acquiring an additional 46,793 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its holdings in shares of Consensus Cloud Solutions by 39.8% during the third quarter. Hillsdale Investment Management Inc. now owns 197,902 shares of the company’s stock worth $5,812,000 after purchasing an additional 56,308 shares during the period. 93.93% of the stock is 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.