SG Americas Securities LLC Makes New $148,000 Investment in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI)

SG Americas Securities LLC bought a new stake in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) during the 3rd quarter, HoldingsChannel reports. The fund bought 6,269 shares of the company’s stock, valued at approximately $148,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in Consensus Cloud Solutions by 132.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,691 shares of the company’s stock worth $44,000 after acquiring an additional 962 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Consensus Cloud Solutions by 3,943.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 114,549 shares of the company’s stock worth $1,817,000 after buying an additional 111,716 shares in the last quarter. GSA Capital Partners LLP lifted its stake in shares of Consensus Cloud Solutions by 323.3% in the 1st quarter. GSA Capital Partners LLP now owns 60,564 shares of the company’s stock valued at $961,000 after acquiring an additional 46,255 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Consensus Cloud Solutions during the 1st quarter valued at $290,000. Finally, Meeder Asset Management Inc. grew 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 acquiring an additional 2,414 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Consensus Cloud Solutions Stock Performance

NASDAQ:CCSI opened at $20.22 on Friday. The company has a market capitalization of $388.63 million, a PE ratio of 4.55 and a beta of 1.37. Consensus Cloud Solutions, Inc. has a fifty-two week low of $11.62 and a fifty-two week high of $28.09. The company has a 50 day simple moving average of $22.19 and a two-hundred day simple moving average of $19.06.

Consensus Cloud Solutions (NASDAQ:CCSI) last announced its 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 business had revenue of $87.50 million during the quarter, compared to the consensus estimate of $87.10 million. Consensus Cloud Solutions had a net margin of 25.72% and a negative return on equity of 57.77%. Research analysts predict that Consensus Cloud Solutions, Inc. will post 4.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on CCSI. BTIG Research upgraded 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. JPMorgan Chase & Co. lowered shares of Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and raised their price objective for the company from $19.00 to $21.00 in a report on Monday, September 9th. Finally, Oppenheimer boosted their target price on shares of Consensus Cloud Solutions from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Consensus Cloud Solutions currently has an average rating of “Hold” and an average target price of $23.60.

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.