Principal Financial Group Inc. lowered its stake in shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI – Free Report) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,759 shares of the company’s stock after selling 1,614 shares during the period. Principal Financial Group Inc. owned approximately 0.54% of Consensus Cloud Solutions worth $3,639,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently modified their holdings of CCSI. Brown Brothers Harriman & Co. acquired a new position in shares of Consensus Cloud Solutions in the 1st quarter valued at $25,000. Advisor Group Holdings Inc. grew its stake in Consensus Cloud Solutions by 86.1% in the fourth quarter. Advisor Group Holdings Inc. now owns 631 shares of the company’s stock valued at $35,000 after acquiring an additional 292 shares during the period. Captrust Financial Advisors acquired a new position in Consensus Cloud Solutions in the first quarter valued at about $47,000. Lazard Asset Management LLC increased its holdings in shares of Consensus Cloud Solutions by 45,050.0% in the fourth quarter. Lazard Asset Management LLC now owns 903 shares of the company’s stock worth $48,000 after acquiring an additional 901 shares in the last quarter. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Consensus Cloud Solutions during the first quarter worth about $59,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the stock. JMP Securities reduced their price target on shares of Consensus Cloud Solutions from $60.00 to $45.00 in a report on Monday, May 15th. Citigroup dropped their price target on Consensus Cloud Solutions from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 29th. Oppenheimer reduced their price objective on Consensus Cloud Solutions from $50.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, August 9th. Finally, Wedbush dropped their target price on Consensus Cloud Solutions from $58.00 to $45.00 in a research report on Thursday, May 11th.
Consensus Cloud Solutions Stock Performance
NASDAQ:CCSI opened at $31.50 on Friday. Consensus Cloud Solutions, Inc. has a 52 week low of $29.25 and a 52 week high of $65.68. The firm’s 50-day simple moving average is $31.61 and its 200 day simple moving average is $35.18. The firm has a market cap of $618.91 million, a price-to-earnings ratio of 8.95 and a beta of 1.08.
Consensus Cloud Solutions (NASDAQ:CCSI – Get Free Report) last announced its earnings results on Tuesday, August 8th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.05 by $0.10. The company had revenue of $92.79 million for the quarter, compared to analysts’ expectations of $94.35 million. Consensus Cloud Solutions had a net margin of 18.86% and a negative return on equity of 29.25%. Sell-side analysts anticipate that Consensus Cloud Solutions, Inc. will post 4.16 EPS for the current 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. It 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; jsign, an electronic and digital signature solution; Conductor, an interface engine and interoperability platform that provides integration technology; Clarity that transforms unstructured documents into structured actionable data; and eFax, an online faxing solution, as well as other products under the MyFax, MetroFax, Sfax, and SRfax brands.
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