Consensus Cloud Solutions (NASDAQ:CCSI) Rating Lowered to Underweight at JPMorgan Chase & Co.

Consensus Cloud Solutions (NASDAQ:CCSI) was downgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report released on Monday, Marketbeat reports. They presently have a $21.00 price target on the stock, up from their previous price target of $19.00. JPMorgan Chase & Co.‘s target price indicates a potential downside of 3.76% from the company’s previous close.

CCSI has been the topic of a number of other research reports. BTIG Research raised Consensus Cloud Solutions from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Wednesday, August 21st. Oppenheimer raised their price objective on Consensus Cloud Solutions from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Consensus Cloud Solutions presently has an average rating of “Hold” and an average target price of $23.60.

Consensus Cloud Solutions Trading Up 2.0 %

Shares of NASDAQ CCSI opened at $21.82 on Monday. The firm has a market cap of $421.13 million, a P/E ratio of 4.82 and a beta of 1.38. Consensus Cloud Solutions has a 1-year low of $11.62 and a 1-year high of $28.09. The business’s 50 day moving average is $20.46 and its 200-day moving average is $17.45.

Consensus Cloud Solutions (NASDAQ:CCSI) last posted its quarterly earnings data 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 firm had revenue of $87.50 million for the quarter, compared to analyst estimates of $87.10 million. Analysts forecast that Consensus Cloud Solutions will post 4.47 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CCSI. GSA Capital Partners LLP increased its position in Consensus Cloud Solutions by 323.3% in the 1st quarter. GSA Capital Partners LLP now owns 60,564 shares of the company’s stock valued at $961,000 after buying an additional 46,255 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Consensus Cloud Solutions by 3,943.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 114,549 shares of the company’s stock worth $1,817,000 after buying an additional 111,716 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Consensus Cloud Solutions in the 1st quarter worth approximately $290,000. CWM LLC boosted its stake in shares of Consensus Cloud Solutions by 388.4% in the 2nd quarter. CWM LLC now owns 8,792 shares of the company’s stock worth $151,000 after buying an additional 6,992 shares during the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of Consensus Cloud Solutions in the 4th quarter worth approximately $923,000. 93.93% of the stock is owned by institutional investors.

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.