Consensus Cloud Solutions (NASDAQ:CCSI) Reaches New 52-Week High – Time to Buy?

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $28.52 and last traded at $28.42, with a volume of 67069 shares changing hands. The stock had previously closed at $26.93.

Analyst Ratings Changes

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

Consensus Cloud Solutions Price Performance

The stock has a market cap of $582.86 million, a PE ratio of 6.61 and a beta of 1.41. The firm’s 50 day moving average price is $24.55 and its two-hundred day moving average price is $22.87.

Institutional Trading of Consensus Cloud Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in CCSI. GAMMA Investing LLC lifted its stake in Consensus Cloud Solutions by 74.9% in the 4th quarter. GAMMA Investing LLC now owns 1,525 shares of the company’s stock worth $36,000 after purchasing an additional 653 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Consensus Cloud Solutions by 19.8% in the 4th quarter. SG Americas Securities LLC now owns 7,509 shares of the company’s stock worth $179,000 after buying an additional 1,240 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Consensus Cloud Solutions in the third quarter worth $29,000. Janney Montgomery Scott LLC lifted its position in shares of Consensus Cloud Solutions by 4.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 27,553 shares of the company’s stock worth $657,000 after purchasing an additional 1,284 shares during the period. Finally, R Squared Ltd purchased a new stake in Consensus Cloud Solutions in the fourth quarter worth about $42,000. 93.93% of the stock is currently owned by 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.