Ballast Asset Management LP Invests $727,000 in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI)

Ballast Asset Management LP purchased a new stake in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 30,464 shares of the company’s stock, valued at approximately $727,000. Ballast Asset Management LP owned approximately 0.16% of Consensus Cloud Solutions at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CCSI. GAMMA Investing LLC grew its stake in Consensus Cloud Solutions by 74.9% during the fourth quarter. GAMMA Investing LLC now owns 1,525 shares of the company’s stock worth $36,000 after buying an additional 653 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Consensus Cloud Solutions by 3.1% during the 4th quarter. Meeder Asset Management Inc. now owns 27,645 shares of the company’s stock worth $660,000 after acquiring an additional 839 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Consensus Cloud Solutions by 5.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,560 shares of the company’s stock worth $562,000 after acquiring an additional 1,195 shares during the period. SG Americas Securities LLC boosted its position in shares of Consensus Cloud Solutions by 19.8% during the 4th quarter. SG Americas Securities LLC now owns 7,509 shares of the company’s stock worth $179,000 after acquiring an additional 1,240 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in Consensus Cloud Solutions by 4.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 27,553 shares of the company’s stock valued at $657,000 after acquiring an additional 1,284 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CCSI shares. Citigroup upped their target price on Consensus Cloud Solutions from $19.00 to $20.00 and gave the stock a “sell” rating in a research note on Friday, January 17th. Oppenheimer upped their price objective on Consensus Cloud Solutions from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.40.

Consensus Cloud Solutions Price Performance

Shares of NASDAQ:CCSI opened at $23.08 on Tuesday. The firm has a 50 day simple moving average of $26.11 and a 200 day simple moving average of $24.46. The company has a market cap of $450.66 million, a price-to-earnings ratio of 5.00 and a beta of 1.45. Consensus Cloud Solutions, Inc. has a one year low of $11.62 and a one year high of $32.10.

Consensus Cloud Solutions (NASDAQ:CCSI) last released its quarterly earnings data on Wednesday, February 19th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.10). Consensus Cloud Solutions had a net margin of 25.52% and a negative return on equity of 83.93%. The firm had revenue of $86.98 million for the quarter, compared to analyst estimates of $85.07 million. As a group, analysts expect that Consensus Cloud Solutions, Inc. will post 5.17 EPS for the current 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.