Gates Capital Management Inc. Purchases 77,867 Shares of Consensus Cloud Solutions, Inc. $CCSI

Key Points

• Gates Capital Management Inc. increased its stake in Consensus Cloud Solutions, Inc. by 4.8%, owning approximately 1.69 million shares worth about $39 million, making it the firm's 28th largest holding.
• Institutional investors and hedge funds now own 93.93% of the company, indicating significant institutional interest in Consensus Cloud Solutions.
• Analysts have upgraded the stock from a "hold" to a "buy" rating, with an average price target of $27.40, reflecting positive sentiment towards the stock.

Gates Capital Management Inc. increased its stake in shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI - Free Report) by 4.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,691,368 shares of the company's stock after purchasing an additional 77,867 shares during the period. Consensus Cloud Solutions accounts for about 0.8% of Gates Capital Management Inc.'s holdings, making the stock its 28th biggest position. Gates Capital Management Inc. owned about 8.66% of Consensus Cloud Solutions worth $39,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently made changes to their positions in CCSI. Janus Henderson Group PLC lifted its holdings in Consensus Cloud Solutions by 3.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,453,463 shares of the company's stock worth $58,540,000 after buying an additional 72,589 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Consensus Cloud Solutions by 3.3% during the first quarter. Vanguard Group Inc. now owns 1,562,117 shares of the company's stock worth $36,054,000 after buying an additional 50,175 shares in the last quarter. AQR Capital Management LLC boosted its stake in Consensus Cloud Solutions by 2.0% in the 4th quarter. AQR Capital Management LLC now owns 629,377 shares of the company's stock worth $14,935,000 after purchasing an additional 12,332 shares during the period. New South Capital Management Inc. boosted its stake in Consensus Cloud Solutions by 100.1% in the 1st quarter. New South Capital Management Inc. now owns 354,241 shares of the company's stock worth $8,176,000 after purchasing an additional 177,247 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position 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 in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Consensus Cloud Solutions Stock Down 0.4%

NASDAQ CCSI traded down $0.10 during trading hours on Wednesday, hitting $26.39. The company's stock had a trading volume of 85,220 shares, compared to its average volume of 156,368. The stock has a fifty day moving average of $23.25 and a 200 day moving average of $22.79. Consensus Cloud Solutions, Inc. has a twelve month low of $17.84 and a twelve month high of $32.10. The firm has a market capitalization of $500.88 million, a P/E ratio of 5.65 and a beta of 1.51.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Consensus Cloud Solutions from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Three investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $27.40.

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.