Consensus Cloud Solutions (NASDAQ:CCSI) Hits New 12-Month High – What’s Next?

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) shares hit 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. The stock had previously closed at $26.93.

Wall Street Analysts Forecast Growth

CCSI has been the subject of a number of research reports. Citigroup upped their price objective on shares of Consensus Cloud Solutions from $19.00 to $20.00 and gave the company a “sell” rating in a research note on Friday, January 17th. Oppenheimer raised their price objective on Consensus Cloud Solutions from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. BTIG Research increased their price objective on shares of Consensus Cloud Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Wedbush boosted their target price on Consensus Cloud Solutions from $24.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $26.40.

Consensus Cloud Solutions Price Performance

The firm has a market cap of $548.31 million, a price-to-earnings ratio of 6.22 and a beta of 1.41. The stock has a 50-day moving average price of $24.82 and a 200 day moving average price of $23.02.

Hedge Funds Weigh In On Consensus Cloud Solutions

Large investors have recently modified their holdings of the company. Janus Henderson Group PLC grew its holdings in shares of Consensus Cloud Solutions by 26.4% during the third quarter. Janus Henderson Group PLC now owns 2,380,874 shares of the company’s stock valued at $56,070,000 after purchasing an additional 498,010 shares during the last quarter. AQR Capital Management LLC grew its holdings 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 worth $11,041,000 after acquiring an additional 360,476 shares during the period. State Street Corp lifted its stake in Consensus Cloud Solutions by 15.1% during the third quarter. State Street Corp now owns 450,415 shares of the company’s stock valued at $10,607,000 after purchasing an additional 59,219 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Consensus Cloud Solutions by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 421,123 shares of the company’s stock valued at $9,920,000 after acquiring an additional 5,299 shares during the last quarter. Finally, Rice Hall James & Associates LLC increased its stake in Consensus Cloud Solutions by 7.1% in the 3rd quarter. Rice Hall James & Associates LLC now owns 217,086 shares of the company’s stock worth $5,112,000 after purchasing an additional 14,406 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other 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.