Allspring Global Investments Holdings LLC Sells 5,797 Shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI)

Allspring Global Investments Holdings LLC lowered its holdings in shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) by 41.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,305 shares of the company’s stock after selling 5,797 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Consensus Cloud Solutions were worth $196,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CCSI. PNC Financial Services Group Inc. boosted its holdings in shares of 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 valued at $44,000 after purchasing an additional 962 shares during the last quarter. National Bank of Canada FI bought a new position in Consensus Cloud Solutions during the second quarter valued at approximately $33,000. SG Americas Securities LLC purchased a new position in Consensus Cloud Solutions during the 3rd quarter valued at approximately $148,000. CWM LLC increased its stake in Consensus Cloud Solutions by 388.4% in the 2nd quarter. CWM LLC now owns 8,792 shares of the company’s stock worth $151,000 after acquiring an additional 6,992 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Consensus Cloud Solutions during the 2nd quarter worth approximately $188,000. Institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Consensus Cloud Solutions Trading Up 3.2 %

Consensus Cloud Solutions stock opened at $22.90 on Monday. Consensus Cloud Solutions, Inc. has a 12-month low of $11.62 and a 12-month high of $28.09. The firm has a 50-day moving average price of $22.30 and a 200-day moving average price of $19.49. The firm has a market capitalization of $441.97 million, a PE ratio of 4.87 and a beta of 1.38.

Consensus Cloud Solutions (NASDAQ:CCSI) last announced its earnings results on Thursday, August 8th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.15. Consensus Cloud Solutions had a negative return on equity of 57.77% and a net margin of 25.72%. The business had revenue of $87.50 million during the quarter, compared to analyst estimates of $87.10 million. As a group, sell-side analysts predict that Consensus Cloud Solutions, Inc. will post 4.86 earnings per share for the current fiscal year.

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.