Consensus Cloud Solutions (NASDAQ:CCSI - Free Report) had its target price hoisted by BTIG Research from $30.00 to $32.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.
A number of other research firms have also recently commented on CCSI. JPMorgan Chase & Co. cut shares of Consensus Cloud Solutions from a "neutral" rating to an "underweight" rating and raised their target price for the stock from $19.00 to $21.00 in a research note on Monday, September 9th. Oppenheimer lifted their target price on shares of Consensus Cloud Solutions from $23.00 to $27.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Wedbush raised their price target on Consensus Cloud Solutions from $24.00 to $32.00 and gave the company an "outperform" rating in a report on Friday. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $26.40.
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Consensus Cloud Solutions Price Performance
Consensus Cloud Solutions stock traded up $0.03 during mid-day trading on Monday, reaching $25.08. 77,148 shares of the stock traded hands, compared to its average volume of 237,010. The stock has a market capitalization of $483.97 million, a PE ratio of 5.55 and a beta of 1.38. The business's 50-day moving average is $22.43 and its 200-day moving average is $19.93. Consensus Cloud Solutions has a 12-month low of $11.62 and a 12-month high of $28.09.
Consensus Cloud Solutions (NASDAQ:CCSI - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.15. Consensus Cloud Solutions had a net margin of 25.10% and a negative return on equity of 59.95%. The business had revenue of $87.50 million for the quarter, compared to analysts' expectations of $87.10 million. Equities analysts anticipate that Consensus Cloud Solutions will post 4.86 EPS for the current fiscal year.
Institutional Investors Weigh In On Consensus Cloud Solutions
Hedge funds have recently made changes to their positions in the company. Marshall Wace LLP raised its holdings in shares of Consensus Cloud Solutions by 437.2% during the 2nd quarter. Marshall Wace LLP now owns 682,669 shares of the company's stock worth $11,728,000 after acquiring an additional 555,584 shares in the last quarter. Heron Bay Capital Management raised its stake in Consensus Cloud Solutions by 63.7% during the first quarter. Heron Bay Capital Management now owns 1,100,425 shares of the company's stock valued at $17,453,000 after purchasing an additional 428,232 shares in the last quarter. AQR Capital Management LLC raised its stake in Consensus Cloud Solutions by 115.4% during the second quarter. AQR Capital Management LLC now owns 672,803 shares of the company's stock valued at $11,041,000 after purchasing an additional 360,476 shares in the last quarter. Kent Lake Capital LLC bought a new position in Consensus Cloud Solutions during the first quarter valued at $2,312,000. Finally, Renaissance Technologies LLC grew its stake in shares of Consensus Cloud Solutions by 165.1% in the 2nd quarter. Renaissance Technologies LLC now owns 116,900 shares of the company's stock worth $2,008,000 after buying an additional 72,800 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.
About Consensus Cloud Solutions
(
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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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