Consensus Cloud Solutions (NASDAQ:CCSI) Price Target Raised to $32.00

Consensus Cloud Solutions (NASDAQ:CCSI) had its price target boosted by Wedbush from $24.00 to $32.00 in a research note released on Friday,Benzinga reports. Wedbush currently has an outperform rating on the stock.

Other analysts also recently issued reports about the company. BTIG Research raised Consensus Cloud Solutions from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a report on Wednesday, August 21st. JPMorgan Chase & Co. cut Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and boosted their target price for the stock from $19.00 to $21.00 in a research note on Monday, September 9th. Finally, Oppenheimer increased their price target 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. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $26.00.

Consensus Cloud Solutions Stock Performance

CCSI stock opened at $25.05 on Friday. Consensus Cloud Solutions has a fifty-two week low of $11.62 and a fifty-two week high of $28.09. The company’s 50 day moving average price is $22.43 and its 200 day moving average price is $19.87. The firm has a market capitalization of $483.47 million, a price-to-earnings ratio of 5.33 and a beta of 1.38.

Consensus Cloud Solutions (NASDAQ:CCSI) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.15. The business had revenue of $87.50 million during the quarter, compared to analysts’ expectations of $87.10 million. Consensus Cloud Solutions had a net margin of 25.72% and a negative return on equity of 57.77%. Equities analysts forecast that Consensus Cloud Solutions will post 4.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Consensus Cloud Solutions

Several large investors have recently modified their holdings of the company. Janus Henderson Group PLC grew its stake in shares of Consensus Cloud Solutions by 1.0% in the 1st quarter. Janus Henderson Group PLC now owns 1,587,963 shares of the company’s stock valued at $25,185,000 after purchasing an additional 15,871 shares during the last quarter. Heron Bay Capital Management lifted its position in Consensus Cloud Solutions by 63.7% in 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 during the period. Marshall Wace LLP increased its position in 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 purchasing an additional 555,584 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Consensus Cloud Solutions by 115.4% in the 2nd quarter. AQR Capital Management LLC now owns 672,803 shares of the company’s stock valued at $11,041,000 after buying an additional 360,476 shares during the period. Finally, Rice Hall James & Associates LLC boosted its stake in shares of Consensus Cloud Solutions by 7.1% in the third quarter. Rice Hall James & Associates LLC now owns 217,086 shares of the company’s stock valued at $5,112,000 after buying an additional 14,406 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

About Consensus Cloud Solutions

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.