Royce & Associates LP Reduces Holdings in 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 position in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI - Free Report) by 54.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,170 shares of the company's stock after selling 29,249 shares during the period. Royce & Associates LP owned about 0.12% of Consensus Cloud Solutions worth $558,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Consensus Cloud Solutions in the fourth quarter valued at approximately $692,000. Quantbot Technologies LP purchased a new stake in Consensus Cloud Solutions in the fourth quarter valued at approximately $81,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Consensus Cloud Solutions during the fourth quarter worth $303,000. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 18,407 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of Consensus Cloud Solutions by 632.6% during the fourth quarter. Prudential Financial Inc. now owns 111,870 shares of the company's stock worth $2,669,000 after acquiring an additional 96,600 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Consensus Cloud Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Consensus Cloud Solutions currently has an average rating of "Hold" and an average target price of $27.40.

Consensus Cloud Solutions Stock Down 2.6%

Shares of CCSI traded down $0.52 during mid-day trading on Friday, reaching $19.66. 202,089 shares of the company's stock were exchanged, compared to its average volume of 145,178. The company has a 50-day simple moving average of $22.12 and a two-hundred day simple moving average of $23.23. Consensus Cloud Solutions, Inc. has a 52-week low of $17.84 and a 52-week high of $32.10. The company has a market cap of $384.16 million, a price-to-earnings ratio of 4.55 and a beta of 1.50.

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.