Bank of America Corp DE Lowers Position in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI)

Bank of America Corp DE lowered its stake in shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI - Free Report) by 87.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,665 shares of the company's stock after selling 62,482 shares during the period. Bank of America Corp DE's holdings in Consensus Cloud Solutions were worth $207,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Consensus Cloud Solutions by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 1,511,942 shares of the company's stock worth $36,075,000 after purchasing an additional 18,407 shares during the period. Heron Bay Capital Management lifted its stake in shares of Consensus Cloud Solutions by 3.5% during the 4th quarter. Heron Bay Capital Management now owns 965,314 shares of the company's stock valued at $23,032,000 after buying an additional 32,482 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Consensus Cloud Solutions by 2.0% during the 4th quarter. AQR Capital Management LLC now owns 629,377 shares of the company's stock valued at $14,935,000 after buying an additional 12,332 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Consensus Cloud Solutions by 8.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 271,289 shares of the company's stock worth $6,473,000 after buying an additional 20,271 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in Consensus Cloud Solutions by 14.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 226,320 shares of the company's stock valued at $5,400,000 after buying an additional 28,569 shares in the last quarter. Institutional investors own 93.93% of the company's stock.

Consensus Cloud Solutions Stock Performance

Shares of Consensus Cloud Solutions stock remained flat at $22.21 on Thursday. 127,039 shares of the stock were exchanged, compared to its average volume of 138,674. The stock's 50-day moving average price is $21.34 and its 200 day moving average price is $23.70. Consensus Cloud Solutions, Inc. has a 52-week low of $15.81 and a 52-week high of $32.10. The stock has a market capitalization of $433.98 million, a P/E ratio of 5.14 and a beta of 1.50.

Wall Street Analyst Weigh In

Separately, Oppenheimer boosted their target price on shares of Consensus Cloud Solutions from $27.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $27.40.

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.