Consensus Cloud Solutions (NASDAQ:CCSI) Given Outperform Rating at Wedbush

Consensus Cloud Solutions (NASDAQ:CCSI)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a note issued to investors on Friday, Benzinga reports. They currently have a $24.00 price target on the stock. Wedbush’s price objective would suggest a potential upside of 29.38% from the company’s current price.

CCSI has been the subject of several other research reports. BTIG Research assumed coverage on shares of Consensus Cloud Solutions in a report on Friday, January 26th. They set a “neutral” rating for the company. Oppenheimer reduced their target price on shares of Consensus Cloud Solutions from $29.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday.

Consensus Cloud Solutions Price Performance

CCSI stock traded up $0.55 during midday trading on Friday, hitting $18.55. The company’s stock had a trading volume of 229,398 shares, compared to its average volume of 343,945. Consensus Cloud Solutions has a twelve month low of $11.62 and a twelve month high of $37.24. The company’s fifty day moving average price is $13.76 and its 200 day moving average price is $18.90. The stock has a market capitalization of $356.53 million, a P/E ratio of 4.60 and a beta of 1.07.

Consensus Cloud Solutions (NASDAQ:CCSI) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.90 EPS for the quarter, meeting analysts’ consensus estimates of $0.90. Consensus Cloud Solutions had a net margin of 21.32% and a negative return on equity of 40.27%. The company had revenue of $87.75 million during the quarter, compared to the consensus estimate of $89.05 million. Equities analysts expect that Consensus Cloud Solutions will post 4.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Consensus Cloud Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in shares of Consensus Cloud Solutions by 132.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,691 shares of the company’s stock valued at $44,000 after buying an additional 962 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Consensus Cloud Solutions by 126.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,706 shares of the company’s stock valued at $93,000 after buying an additional 2,073 shares in the last quarter. SG Americas Securities LLC increased its position in Consensus Cloud Solutions by 55.4% during the 3rd quarter. SG Americas Securities LLC now owns 7,973 shares of the company’s stock worth $201,000 after purchasing an additional 2,841 shares in the last quarter. Amalgamated Bank increased its position in Consensus Cloud Solutions by 9.1% during the 3rd quarter. Amalgamated Bank now owns 8,224 shares of the company’s stock worth $207,000 after purchasing an additional 684 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in Consensus Cloud Solutions by 20.0% during the 1st quarter. Meeder Asset Management Inc. now owns 14,480 shares of the company’s stock worth $230,000 after purchasing an additional 2,414 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.