Consensus Cloud Solutions (NASDAQ:CCSI) Stock Price Down 5.3% – Here’s What Happened

Shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) traded down 5.3% during mid-day trading on Thursday . The stock traded as low as $29.11 and last traded at $28.81. 105,026 shares were traded during mid-day trading, an increase of 1% from the average session volume of 103,623 shares. The stock had previously closed at $30.44.

Analysts Set New Price Targets

CCSI has been the topic of several research analyst reports. Oppenheimer increased their price target on Consensus Cloud Solutions from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Citigroup boosted their price objective on Consensus Cloud Solutions from $19.00 to $20.00 and gave the company a “sell” rating in a research report on Friday, January 17th. Wedbush lifted their price target on shares of Consensus Cloud Solutions from $24.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, BTIG Research raised their target price on shares of Consensus Cloud Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a report on Monday, November 11th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.40.

Consensus Cloud Solutions Stock Performance

The company has a market capitalization of $548.31 million, a price-to-earnings ratio of 6.22 and a beta of 1.41. The business’s 50 day moving average is $24.82 and its 200 day moving average is $23.02.

Institutional Investors Weigh In On Consensus Cloud Solutions

A number of large investors have recently bought and sold shares of CCSI. Janus Henderson Group PLC boosted its stake in shares of Consensus Cloud Solutions by 26.4% in the third quarter. Janus Henderson Group PLC now owns 2,380,874 shares of the company’s stock worth $56,070,000 after buying an additional 498,010 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Consensus Cloud Solutions by 115.4% during the second quarter. AQR Capital Management LLC now owns 672,803 shares of the company’s stock worth $11,041,000 after buying an additional 360,476 shares in the last quarter. State Street Corp lifted its stake in Consensus Cloud Solutions by 15.1% in the 3rd quarter. State Street Corp now owns 450,415 shares of the company’s stock worth $10,607,000 after purchasing an additional 59,219 shares in the last quarter. Geode Capital Management LLC lifted its position in Consensus Cloud Solutions by 1.3% during the third quarter. Geode Capital Management LLC now owns 421,123 shares of the company’s stock worth $9,920,000 after buying an additional 5,299 shares in the last quarter. Finally, Rice Hall James & Associates LLC boosted its position in shares of Consensus Cloud Solutions by 7.1% during the 3rd quarter. Rice Hall James & Associates LLC now owns 217,086 shares of the company’s stock valued at $5,112,000 after acquiring an additional 14,406 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Consensus Cloud Solutions Company 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.