Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) has received a consensus rating of "Hold" from brokerages, with one sell rating, one hold rating, and three buy ratings among the five firms covering the stock.
• The average 12-month price target for CCSI stock is $29.00, with current trading at $27.81, reflecting a downward movement of $0.62 during mid-day trading.
• Institutional investors own 93.93% of Consensus Cloud Solutions' stock, showing significant interest from large investors like Gates Capital Management and Vanguard Group, which have increased their holdings recently.

Shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI - Get Free Report) have earned a consensus rating of "Hold" from the five research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $29.00.

A number of analysts have recently weighed in on CCSI shares. Wall Street Zen upgraded Consensus Cloud Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Weiss Ratings reissued a "hold (c)" rating on shares of Consensus Cloud Solutions in a research report on Saturday, September 27th.

Consensus Cloud Solutions Price Performance

Consensus Cloud Solutions stock traded down $0.62 during mid-day trading on Friday, hitting $27.81. 77,876 shares of the company were exchanged, compared to its average volume of 104,782. The business's 50 day simple moving average is $26.06 and its two-hundred day simple moving average is $23.27. Consensus Cloud Solutions has a 12-month low of $17.84 and a 12-month high of $32.10. The company has a market capitalization of $527.83 million, a P/E ratio of 6.70 and a beta of 1.53.

Hedge Funds Weigh In On Consensus Cloud Solutions

A number of large investors have recently modified their holdings of the business. Gates Capital Management Inc. lifted its position in Consensus Cloud Solutions by 4.8% during the first quarter. Gates Capital Management Inc. now owns 1,691,368 shares of the company's stock worth $39,037,000 after acquiring an additional 77,867 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Consensus Cloud Solutions by 3.3% during the first quarter. Vanguard Group Inc. now owns 1,562,117 shares of the company's stock valued at $36,054,000 after buying an additional 50,175 shares during the last quarter. Heron Bay Capital Management boosted its holdings in Consensus Cloud Solutions by 21.3% during the second quarter. Heron Bay Capital Management now owns 1,178,746 shares of the company's stock worth $27,182,000 after purchasing an additional 207,072 shares during the last quarter. Geode Capital Management LLC raised its position in Consensus Cloud Solutions by 7.7% in the second quarter. Geode Capital Management LLC now owns 505,506 shares of the company's stock worth $11,659,000 after acquiring an additional 36,357 shares during the period. Finally, LSV Asset Management lifted its stake in shares of Consensus Cloud Solutions by 14.4% during the 2nd quarter. LSV Asset Management now owns 372,501 shares of the company's stock valued at $8,590,000 after buying an additional 46,793 shares in the last quarter. 93.93% of the stock is currently 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.

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