Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) is Heron Bay Capital Management’s 9th Largest Position

Heron Bay Capital Management lowered its stake in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) by 12.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 964,825 shares of the company’s stock after selling 135,600 shares during the period. Consensus Cloud Solutions makes up approximately 3.5% of Heron Bay Capital Management’s holdings, making the stock its 9th largest holding. Heron Bay Capital Management owned about 5.02% of Consensus Cloud Solutions worth $16,576,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sei Investments Co. raised its stake in Consensus Cloud Solutions by 18.5% in the second quarter. Sei Investments Co. now owns 17,594 shares of the company’s stock worth $302,000 after buying an additional 2,751 shares in the last quarter. Denali Advisors LLC purchased a new stake in Consensus Cloud Solutions in the second quarter worth $1,051,000. Renaissance Technologies LLC raised its holdings in Consensus Cloud Solutions by 165.1% in the second quarter. Renaissance Technologies LLC now owns 116,900 shares of the company’s stock worth $2,008,000 after purchasing an additional 72,800 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Consensus Cloud Solutions during the second quarter valued at $188,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Consensus Cloud Solutions by 85.1% during the 2nd quarter. Meeder Asset Management Inc. now owns 26,806 shares of the company’s stock valued at $461,000 after buying an additional 12,326 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Consensus Cloud Solutions Trading Down 2.9 %

Shares of NASDAQ CCSI opened at $22.70 on Friday. Consensus Cloud Solutions, Inc. has a 12-month low of $11.62 and a 12-month high of $28.09. The firm has a market capitalization of $436.29 million, a price-to-earnings ratio of 5.01 and a beta of 1.38. The firm has a 50 day moving average of $21.43 and a 200 day moving average of $17.83.

Consensus Cloud Solutions (NASDAQ:CCSI) last announced its earnings results on Thursday, August 8th. The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $87.50 million for the quarter, compared to analysts’ expectations of $87.10 million. Sell-side analysts predict that Consensus Cloud Solutions, Inc. will post 4.86 EPS for the current year.

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.