Royce & Associates LP Sells 29,249 Shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI)

Key Points

• Royce & Associates LP cut its stake in Consensus Cloud Solutions (CCSI) by 54.8%, now holding 24,170 shares valued at $558,000.
• New South Capital Management Inc. significantly increased its position in CCSI by 100.1%, acquiring 354,241 shares worth $8,176,000.
• Consensus Cloud Solutions' stock received an upgrade from Wall Street analysts, changing from a "hold" rating to a "buy" rating, with an average target price of $27.40.

Royce & Associates LP trimmed its stake in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI - Free Report) by 54.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,170 shares of the company's stock after selling 29,249 shares during the period. Royce & Associates LP owned 0.12% of Consensus Cloud Solutions worth $558,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Quantbot Technologies LP bought a new stake in shares of Consensus Cloud Solutions in the fourth quarter worth approximately $81,000. BNP Paribas Financial Markets purchased a new position in shares of Consensus Cloud Solutions in the fourth quarter worth approximately $135,000. Federated Hermes Inc. boosted its holdings in shares of Consensus Cloud Solutions by 82.0% in the fourth quarter. Federated Hermes Inc. now owns 7,762 shares of the company's stock worth $185,000 after buying an additional 3,497 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of Consensus Cloud Solutions in the fourth quarter worth approximately $210,000. Finally, Pallas Capital Advisors LLC purchased a new position in shares of Consensus Cloud Solutions in the first quarter worth approximately $213,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Consensus Cloud Solutions from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, Consensus Cloud Solutions currently has a consensus rating of "Hold" and a consensus target price of $27.40.

Consensus Cloud Solutions Price Performance

Shares of CCSI stock traded down $0.52 during mid-day trading on Friday, hitting $19.66. The company had a trading volume of 202,089 shares, compared to its average volume of 133,244. Consensus Cloud Solutions, Inc. has a 52-week low of $17.84 and a 52-week high of $32.10. The stock's 50 day moving average price is $22.09 and its 200-day moving average price is $23.20. The company has a market capitalization of $384.18 million, a P/E ratio of 4.55 and a beta of 1.50.

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.