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

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

Wall Street Analyst Weigh In

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

Consensus Cloud Solutions Trading Down 6.7 %

The company has a 50-day moving average of $24.82 and a 200-day moving average of $23.02. The firm has a market capitalization of $548.31 million, a P/E ratio of 6.22 and a beta of 1.41.

Hedge Funds Weigh In On Consensus Cloud Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of Consensus Cloud Solutions by 74.9% in the 4th quarter. GAMMA Investing LLC now owns 1,525 shares of the company’s stock valued at $36,000 after buying an additional 653 shares during the period. SG Americas Securities LLC boosted its holdings in Consensus Cloud Solutions by 19.8% in the fourth quarter. SG Americas Securities LLC now owns 7,509 shares of the company’s stock worth $179,000 after acquiring an additional 1,240 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Consensus Cloud Solutions during the third quarter valued at approximately $29,000. Janney Montgomery Scott LLC raised its position in shares of Consensus Cloud Solutions by 4.9% during the fourth 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 bought a new position in shares of Consensus Cloud Solutions in the 4th quarter worth $42,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

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.