Invesco Ltd. Sells 14,564 Shares of Consensus Cloud Solutions, Inc. $CCSI

Key Points

• Invesco Ltd. reduced its stake in Consensus Cloud Solutions by 16.3% in Q1, now holding 74,631 shares valued at approximately $1.72 million.
• Wall Street analysts have shifted their sentiment, with a recent upgrade from a "hold" to a "buy" rating for Consensus Cloud Solutions, which has a current average target price of $27.40.
• Consensus Cloud Solutions has a market cap of $504.3 million, with shares trading at $26.57, reflecting significant price fluctuations over the past year.

Invesco Ltd. trimmed its position in shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI - Free Report) by 16.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,631 shares of the company's stock after selling 14,564 shares during the period. Invesco Ltd. owned approximately 0.38% of Consensus Cloud Solutions worth $1,722,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in Consensus Cloud Solutions during the 4th quarter valued at $135,000. Pallas Capital Advisors LLC acquired a new stake in shares of Consensus Cloud Solutions in the 1st quarter worth about $213,000. Federated Hermes Inc. increased its holdings in shares of Consensus Cloud Solutions by 20.2% in the 1st quarter. Federated Hermes Inc. now owns 9,327 shares of the company's stock worth $215,000 after acquiring an additional 1,565 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of Consensus Cloud Solutions in the 1st quarter worth about $231,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Consensus Cloud Solutions by 4.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,342 shares of the company's stock valued at $247,000 after buying an additional 456 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Consensus Cloud Solutions Stock Performance

CCSI traded up $0.01 during trading hours on Thursday, reaching $26.40. The company's stock had a trading volume of 31,325 shares, compared to its average volume of 145,970. Consensus Cloud Solutions, Inc. has a 52 week low of $17.84 and a 52 week high of $32.10. The company's 50-day moving average is $23.32 and its 200-day moving average is $22.82. The firm has a market cap of $501.07 million, a PE ratio of 6.36 and a beta of 1.51.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Consensus Cloud Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $27.40.

Consensus Cloud Solutions 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.