Nordea Investment Management AB Sells 90,308 Shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI)

Nordea Investment Management AB lowered its stake in shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI – Get Rating) by 79.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,355 shares of the company’s stock after selling 90,308 shares during the quarter. Nordea Investment Management AB owned 0.12% of Consensus Cloud Solutions worth $1,239,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Credit Suisse AG grew its stake in shares of Consensus Cloud Solutions by 3.4% in the 2nd quarter. Credit Suisse AG now owns 11,626 shares of the company’s stock worth $507,000 after acquiring an additional 379 shares in the last quarter. Swiss National Bank boosted its holdings in Consensus Cloud Solutions by 0.9% in the 4th quarter. Swiss National Bank now owns 43,077 shares of the company’s stock worth $2,316,000 after buying an additional 400 shares during the period. Brown Brothers Harriman & Co. bought a new position in Consensus Cloud Solutions in the 1st quarter worth approximately $25,000. Amalgamated Bank boosted its holdings in Consensus Cloud Solutions by 7.8% in the 3rd quarter. Amalgamated Bank now owns 8,015 shares of the company’s stock worth $379,000 after buying an additional 583 shares during the period. Finally, Legal & General Group Plc boosted its stake in Consensus Cloud Solutions by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 45,413 shares of the company’s stock worth $1,983,000 after purchasing an additional 635 shares during the period. 92.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on CCSI. JMP Securities cut their target price on Consensus Cloud Solutions from $70.00 to $60.00 in a research note on Monday, February 27th. Wedbush cut their price target on shares of Consensus Cloud Solutions from $58.00 to $45.00 in a report on Thursday. Finally, Oppenheimer cut their price target on shares of Consensus Cloud Solutions from $65.00 to $50.00 in a report on Wednesday.

Insider Buying and Selling

In other news, CFO James C. Malone bought 4,500 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was bought at an average price of $33.98 per share, for a total transaction of $152,910.00. Following the transaction, the chief financial officer now directly owns 17,091 shares of the company’s stock, valued at approximately $580,752.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.27% of the stock is currently owned by corporate insiders.

Consensus Cloud Solutions Trading Down 1.0 %

Shares of CCSI opened at $33.13 on Friday. Consensus Cloud Solutions, Inc. has a 12-month low of $29.62 and a 12-month high of $65.68. The company has a market cap of $651.24 million, a PE ratio of 9.30 and a beta of 1.28. The stock has a 50-day moving average price of $35.26 and a 200-day moving average price of $48.60.

Consensus Cloud Solutions (NASDAQ:CCSI – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.05. Consensus Cloud Solutions had a net margin of 20.07% and a negative return on equity of 27.60%. The company had revenue of $90.23 million during the quarter, compared to the consensus estimate of $96.16 million. As a group, analysts predict that Consensus Cloud Solutions, Inc. will post 4.1 earnings per share for the current year.

Consensus Cloud Solutions Company Profile

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Consensus Cloud Solutions, Inc, together with its subsidiaries, provides information delivery services with a software-as-a-service platform worldwide. Its products and solutions include eFax, an online faxing solution, as well as MyFax, MetroFax, Sfax, SRfax, and other brands; eFax Corporate, a digital cloud-fax technology; jsign, which provides electronic and digital signature solutions; Unite, a single platform that allows the user to choose between several protocols to send and receive healthcare information in an environment that can integrate into an existing electronic health record (EHR) system or stand-alone if no EHR is present; Signal, a solution that integrates with a hospital's EHR system and uses rules-based triggering logic to automatically send admit, discharge, and transfer notifications using cloud fax and direct secure messaging technology; and Clarity that transforms unstructured documents into structured actionable data.