Russell Investments Group Ltd. Cuts Stock Holdings in Consensus Cloud Solutions, Inc. $CCSI

Key Points

• Russell Investments Group Ltd. has reduced its stake in Consensus Cloud Solutions, Inc. by 19.1%, now holding 50,434 shares valued at approximately $1.16 million as of the latest SEC filing.
• Multiple institutional investors are actively adjusting their positions in Consensus Cloud Solutions, with notable increases from firms like Janus Henderson Group PLC and Vanguard Group Inc.
• Analysts have upgraded Consensus Cloud Solutions from a "hold" to a "buy" rating, reflecting positive sentiment as the stock has an average target price of $27.40.

Russell Investments Group Ltd. decreased its position in shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI - Free Report) by 19.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,434 shares of the company's stock after selling 11,913 shares during the quarter. Russell Investments Group Ltd. owned about 0.26% of Consensus Cloud Solutions worth $1,164,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in Consensus Cloud Solutions in the first quarter worth $287,000. Exchange Traded Concepts LLC increased its stake in Consensus Cloud Solutions by 4,751.3% in the first quarter. Exchange Traded Concepts LLC now owns 14,748 shares of the company's stock valued at $340,000 after purchasing an additional 14,444 shares in the last quarter. GAMMA Investing LLC increased its stake in Consensus Cloud Solutions by 2,327.5% in the first quarter. GAMMA Investing LLC now owns 37,020 shares of the company's stock valued at $854,000 after purchasing an additional 35,495 shares in the last quarter. Cerity Partners LLC increased its stake in Consensus Cloud Solutions by 3.6% in the first quarter. Cerity Partners LLC now owns 59,118 shares of the company's stock valued at $1,364,000 after purchasing an additional 2,049 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in Consensus Cloud Solutions by 93.1% in the fourth quarter. Two Sigma Investments LP now owns 28,012 shares of the company's stock valued at $668,000 after purchasing an additional 13,502 shares in the last quarter. Institutional investors own 93.93% of the company's stock.

Consensus Cloud Solutions Stock Down 0.4%

CCSI stock traded down $0.10 during midday trading on Wednesday, reaching $26.39. 85,220 shares of the company's stock traded hands, compared to its average volume of 156,368. The company has a market cap of $500.88 million, a price-to-earnings ratio of 6.36 and a beta of 1.51. The firm's fifty day moving average price is $23.32 and its 200-day moving average price is $22.82. Consensus Cloud Solutions, Inc. has a 52 week low of $17.84 and a 52 week high of $32.10.

Wall Street Analyst Weigh In

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 research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company 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.