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

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

Analyst Ratings Changes

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

Consensus Cloud Solutions Stock Performance

The stock has a 50-day simple moving average of $24.32 and a 200-day simple moving average of $25.23. The stock has a market cap of $587.99 million, a PE ratio of 7.16 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 data on Monday, February 9th. The company reported $1.41 earnings per share for the quarter, topping 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 analyst estimates of $86.62 million. Equities 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCSI. New South Capital Management Inc. lifted its stake in Consensus Cloud Solutions by 38.6% in the third quarter. New South Capital Management Inc. now owns 429,574 shares of the company’s stock valued at $12,617,000 after acquiring an additional 119,580 shares during the last quarter. Geode Capital Management LLC increased its position in Consensus Cloud Solutions by 7.7% during the second quarter. Geode Capital Management LLC now owns 505,506 shares of the company’s stock worth $11,659,000 after acquiring an additional 36,357 shares during the period. Brandywine Global Investment Management LLC raised its position in shares of Consensus Cloud Solutions by 19.8% during the second quarter. Brandywine Global Investment Management LLC now owns 85,080 shares of the company’s stock valued at $1,962,000 after buying an additional 14,080 shares during the last quarter. LSV Asset Management raised its stake in shares of Consensus Cloud Solutions by 14.4% in the second quarter. LSV Asset Management now owns 372,501 shares of the company’s stock valued at $8,590,000 after purchasing an additional 46,793 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its position in shares of Consensus Cloud Solutions by 39.8% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 197,902 shares of the company’s stock valued at $5,812,000 after acquiring an additional 56,308 shares in the last quarter. Institutional investors 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.