Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lowered its stake in shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) by 23.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,949 shares of the company’s stock after selling 25,575 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.43% of Consensus Cloud Solutions worth $1,408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. National Bank of Canada FI acquired a new position in shares of Consensus Cloud Solutions during the 2nd quarter valued at about $33,000. PNC Financial Services Group Inc. increased its position in Consensus Cloud Solutions by 132.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,691 shares of the company’s stock worth $44,000 after purchasing an additional 962 shares in the last quarter. CWM LLC increased its position in Consensus Cloud Solutions by 388.4% during the 2nd quarter. CWM LLC now owns 8,792 shares of the company’s stock worth $151,000 after purchasing an additional 6,992 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Consensus Cloud Solutions during the 2nd quarter worth approximately $188,000. Finally, Meeder Asset Management Inc. increased its position in Consensus Cloud Solutions by 20.0% during the 1st quarter. Meeder Asset Management Inc. now owns 14,480 shares of the company’s stock worth $230,000 after purchasing an additional 2,414 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Oppenheimer increased their target price on shares of Consensus Cloud Solutions from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. downgraded shares of Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $19.00 to $21.00 in a research report on Monday, September 9th. Finally, BTIG Research raised shares of Consensus Cloud Solutions from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Consensus Cloud Solutions has a consensus rating of “Hold” and an average price target of $23.60.

Consensus Cloud Solutions Stock Down 3.6 %

NASDAQ CCSI opened at $22.70 on Wednesday. The stock has a market cap of $436.29 million, a PE ratio of 5.01 and a beta of 1.38. Consensus Cloud Solutions, Inc. has a fifty-two week low of $11.62 and a fifty-two week high of $28.09. The business has a 50 day moving average price of $21.88 and a two-hundred day moving average price of $18.32.

Consensus Cloud Solutions (NASDAQ:CCSI) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.15. The firm had revenue of $87.50 million during the quarter, compared to analysts’ expectations of $87.10 million. Consensus Cloud Solutions had a negative return on equity of 57.77% and a net margin of 25.72%. Sell-side analysts anticipate that Consensus Cloud Solutions, Inc. will post 4.86 EPS for the current fiscal year.

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.