Consensus Cloud Solutions (NASDAQ:CCSI) Reaches New 12-Month High - Should You Buy?

Shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $28.52 and last traded at $28.42, with a volume of 67069 shares traded. The stock had previously closed at $26.93.

Analyst Ratings Changes

Several brokerages have recently weighed in on CCSI. BTIG Research raised their price target on shares of Consensus Cloud Solutions from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Citigroup boosted their price target on Consensus Cloud Solutions from $19.00 to $20.00 and gave the stock a "sell" rating in a research report on Friday, January 17th. Oppenheimer raised their target price on shares of Consensus Cloud Solutions from $23.00 to $27.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Finally, Wedbush boosted their price target on Consensus Cloud Solutions from $24.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Consensus Cloud Solutions presently has a consensus rating of "Hold" and an average price target of $26.40.

Consensus Cloud Solutions Stock Performance

The firm's fifty day simple moving average is $24.55 and its 200 day simple moving average is $22.87. The stock has a market capitalization of $582.86 million, a P/E ratio of 6.61 and a beta of 1.41.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CCSI. Capital Performance Advisors LLP bought a new position in Consensus Cloud Solutions in the 3rd quarter valued at approximately $29,000. GAMMA Investing LLC grew its holdings in Consensus Cloud Solutions by 74.9% during the 4th quarter. GAMMA Investing LLC now owns 1,525 shares of the company's stock worth $36,000 after acquiring an additional 653 shares during the period. R Squared Ltd bought a new stake in Consensus Cloud Solutions in the fourth quarter worth approximately $42,000. SG Americas Securities LLC bought a new stake in shares of Consensus Cloud Solutions in the 3rd quarter valued at $148,000. Finally, DGS Capital Management LLC acquired a new position in shares of Consensus Cloud Solutions during the third quarter valued at about $209,000. 93.93% of the stock is owned by institutional investors.

Consensus Cloud Solutions Company Profile

Consensus Cloud Solutions, Inc, together with its subsidiaries, provides information delivery services with a software-as-a-service platform worldwide. The company offers eFax Corporate, a digital cloud-fax technology; Unite, a single platform that allows the user to choose between various protocols to send and receive healthcare information and can integrate into an existing electronic health record system or stand-alone if no EHR is present.

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