ArrowMark Colorado Holdings LLC Cuts Position in Consensus Cloud Solutions, Inc. $CCSI

Key Points

• ArrowMark Colorado Holdings LLC cut its stake in Consensus Cloud Solutions (NASDAQ:CCSI) by 5.9% in Q3, selling 102,623 shares and retaining 1,647,688 shares worth about $48.39 million (≈8.67% of the company). Overall, hedge funds and other institutional investors own roughly 93.93% of CCSI.
• CCSI opened at $30.05 with a market cap of $567M and a P/E of 6.91; the company beat Q results with EPS of $1.41 versus $1.31 expected, and analysts hold a "Moderate Buy" consensus with a $37.50 target (BTIG raised its target to $40).

ArrowMark Colorado Holdings LLC cut its holdings in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI - Free Report) by 5.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,647,688 shares of the company's stock after selling 102,623 shares during the period. ArrowMark Colorado Holdings LLC owned about 8.67% of Consensus Cloud Solutions worth $48,393,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CCSI. Heron Bay Capital Management boosted its position in Consensus Cloud Solutions by 21.3% in 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. Russell Investments Group Ltd. grew its stake in Consensus Cloud Solutions by 239.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 170,445 shares of the company's stock valued at $5,006,000 after purchasing an additional 120,205 shares during the period. Kent Lake PR LLC increased its position in shares of Consensus Cloud Solutions by 92.6% during the 2nd quarter. Kent Lake PR LLC now owns 250,000 shares of the company's stock valued at $5,765,000 after purchasing an additional 120,200 shares during the last quarter. New South Capital Management Inc. increased its position in shares of Consensus Cloud Solutions by 38.6% during the 3rd quarter. New South Capital Management Inc. now owns 429,574 shares of the company's stock valued at $12,617,000 after purchasing an additional 119,580 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its stake in shares of Consensus Cloud Solutions by 39.8% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 197,902 shares of the company's stock worth $5,812,000 after purchasing an additional 56,308 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

Consensus Cloud Solutions Stock Down 0.2%

Consensus Cloud Solutions stock opened at $30.05 on Friday. The firm has a 50 day simple moving average of $25.63 and a 200 day simple moving average of $25.49. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 40.03. Consensus Cloud Solutions, Inc. has a 1-year low of $17.84 and a 1-year high of $31.67. The firm has a market capitalization of $567.04 million, a price-to-earnings ratio of 6.91 and a beta of 1.47.

Consensus Cloud Solutions (NASDAQ:CCSI - Get Free Report) last posted its earnings results on Monday, February 9th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.10. The firm had revenue of $87.07 million for the quarter, compared to the consensus estimate of $86.62 million. Consensus Cloud Solutions had a negative return on equity of 579.06% and a net margin of 24.17%. On average, analysts predict that Consensus Cloud Solutions, Inc. will post 5.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CCSI shares. BTIG Research boosted their price target on shares of Consensus Cloud Solutions from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday, February 17th. Weiss Ratings restated a "hold (c)" rating on shares of Consensus Cloud Solutions in a report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Consensus Cloud Solutions from a "hold" rating to a "buy" rating in a research report on Sunday, November 16th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.50.

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.

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