Inspire Advisors LLC Buys New Position in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI)

Inspire Advisors LLC bought a new stake in shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 17,272 shares of the company’s stock, valued at approximately $412,000. Inspire Advisors LLC owned 0.09% of Consensus Cloud Solutions as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of CCSI. Janus Henderson Group PLC raised its holdings in 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 valued at $56,070,000 after acquiring an additional 498,010 shares in the last quarter. State Street Corp increased its position in shares of 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 during the last quarter. Geode Capital Management LLC increased its position in shares of Consensus Cloud Solutions by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 421,123 shares of the company’s stock worth $9,920,000 after purchasing an additional 5,299 shares during the last quarter. Denali Advisors LLC increased its position in shares of Consensus Cloud Solutions by 36.8% in the 4th quarter. Denali Advisors LLC now owns 204,932 shares of the company’s stock worth $4,890,000 after purchasing an additional 55,174 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Consensus Cloud Solutions by 223.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 197,456 shares of the company’s stock worth $4,650,000 after purchasing an additional 136,349 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CCSI. Oppenheimer boosted their target price on shares of Consensus Cloud Solutions from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Citigroup boosted their target price on shares of Consensus Cloud Solutions from $19.00 to $20.00 and gave the stock a “sell” rating in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.40.

Consensus Cloud Solutions Stock Performance

NASDAQ CCSI opened at $24.06 on Thursday. Consensus Cloud Solutions, Inc. has a one year low of $11.62 and a one year high of $32.10. The company has a 50-day simple moving average of $26.20 and a 200-day simple moving average of $24.35. The firm has a market capitalization of $469.80 million, a PE ratio of 5.21 and a beta of 1.45.

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