Consensus Cloud Solutions (NASDAQ:CCSI) Trading Down 5.3% – Should You Sell?

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI)’s share price fell 5.3% during trading on Thursday . The company traded as low as $29.11 and last traded at $28.81. 105,026 shares changed hands during trading, an increase of 1% from the average session volume of 103,623 shares. The stock had previously closed at $30.44.

Analyst Ratings Changes

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

Consensus Cloud Solutions Stock Down 6.7 %

The company has a market cap of $548.31 million, a price-to-earnings ratio of 6.22 and a beta of 1.41. The firm has a 50-day simple moving average of $24.82 and a 200 day simple moving average of $23.02.

Institutional Investors Weigh In On Consensus Cloud Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of CCSI. Janus Henderson Group PLC increased its stake in Consensus Cloud Solutions by 26.4% during the third quarter. Janus Henderson Group PLC now owns 2,380,874 shares of the company’s stock worth $56,070,000 after acquiring an additional 498,010 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Consensus Cloud Solutions by 115.4% in the second quarter. AQR Capital Management LLC now owns 672,803 shares of the company’s stock valued at $11,041,000 after purchasing an additional 360,476 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Consensus Cloud Solutions by 223.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 197,456 shares of the company’s stock valued at $4,650,000 after buying an additional 136,349 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Consensus Cloud Solutions by 165.1% during the 2nd quarter. Renaissance Technologies LLC now owns 116,900 shares of the company’s stock worth $2,008,000 after acquiring an additional 72,800 shares in the last quarter. Finally, Greenleaf Trust bought a new stake in Consensus Cloud Solutions in the third quarter valued at about $1,634,000. Institutional investors and hedge funds 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.