Consensus Cloud Solutions (NASDAQ:CCSI) Announces Quarterly Earnings Results

Consensus Cloud Solutions (NASDAQ:CCSI) released its quarterly earnings data on Monday. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.10, FiscalAI reports. Consensus Cloud Solutions had a negative return on equity of 234.27% and a net margin of 23.48%.The company had revenue of $87.07 million during the quarter, compared to analysts’ expectations of $86.62 million.

Consensus Cloud Solutions Stock Performance

CCSI opened at $22.68 on Tuesday. The stock has a fifty day moving average of $22.44 and a 200-day moving average of $24.49. The company has a market capitalization of $431.15 million, a P/E ratio of 5.39 and a beta of 1.55. Consensus Cloud Solutions has a fifty-two week low of $17.84 and a fifty-two week high of $30.08.

Institutional Trading of Consensus Cloud Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of CCSI. Arrowstreet Capital Limited Partnership grew its position in shares of Consensus Cloud Solutions by 4.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 319,391 shares of the company’s stock worth $9,381,000 after purchasing an additional 13,984 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Consensus Cloud Solutions by 1.0% in the third quarter. Dimensional Fund Advisors LP now owns 296,876 shares of the company’s stock valued at $8,719,000 after buying an additional 2,997 shares during the period. Kent Lake PR LLC boosted its stake in shares of Consensus Cloud Solutions by 92.6% in the second quarter. Kent Lake PR LLC now owns 250,000 shares of the company’s stock valued at $5,765,000 after buying an additional 120,200 shares during the period. Bank of America Corp DE grew its position in Consensus Cloud Solutions by 26.6% during the second quarter. Bank of America Corp DE now owns 211,987 shares of the company’s stock worth $4,888,000 after buying an additional 44,588 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Consensus Cloud Solutions by 239.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 170,445 shares of the company’s stock worth $5,006,000 after acquiring an additional 120,205 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CCSI. Wall Street Zen upgraded Consensus Cloud Solutions from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Consensus Cloud Solutions in a report on Wednesday, January 21st. Finally, Wedbush raised their target price on shares of Consensus Cloud Solutions from $26.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.50.

About Consensus Cloud Solutions

Consensus Cloud Solutions (NASDAQ: CCSI) is a provider of cloud consulting and managed services focused on helping organizations accelerate digital transformation. The company specializes in designing, deploying and supporting cloud architectures that leverage leading public and private cloud platforms, including infrastructure as a service (IaaS), platform as a service (PaaS) and software as a service (SaaS) environments. Its end-to-end approach encompasses strategy, implementation and ongoing optimization to align technology investments with business objectives.

The firm’s core offerings include cloud migration and deployment, application modernization, data analytics and cybersecurity solutions.