Los Angeles Capital Management LLC Takes $1.21 Million Position in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI)

Los Angeles Capital Management LLC purchased a new stake in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 70,133 shares of the company’s stock, valued at approximately $1,205,000.

Several other hedge funds also recently made changes to their positions in CCSI. Charles Schwab Investment Management Inc. grew its position in shares of Consensus Cloud Solutions by 13.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 269,965 shares of the company’s stock valued at $7,076,000 after purchasing an additional 31,433 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Consensus Cloud Solutions in the fourth quarter valued at $923,000. Aristides Capital LLC purchased a new position in shares of Consensus Cloud Solutions in the fourth quarter valued at $252,000. PNC Financial Services Group Inc. grew its position in Consensus Cloud Solutions by 132.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,691 shares of the company’s stock worth $44,000 after buying an additional 962 shares in the last quarter. Finally, Bridge City Capital LLC grew its position in Consensus Cloud Solutions by 2.2% during the first quarter. Bridge City Capital LLC now owns 57,577 shares of the company’s stock worth $913,000 after buying an additional 1,245 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Consensus Cloud Solutions Trading Down 1.2 %

Shares of NASDAQ CCSI opened at $21.56 on Thursday. The stock’s 50-day moving average is $20.57 and its 200 day moving average is $17.48. The stock has a market cap of $414.38 million, a price-to-earnings ratio of 4.76 and a beta of 1.38. Consensus Cloud Solutions, Inc. has a 1-year low of $11.62 and a 1-year high of $28.09.

Consensus Cloud Solutions (NASDAQ:CCSI) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.11 by $0.15. The firm had revenue of $87.50 million for the quarter, compared to the consensus estimate of $87.10 million. Consensus Cloud Solutions had a net margin of 25.72% and a negative return on equity of 57.77%. On average, analysts forecast that Consensus Cloud Solutions, Inc. will post 4.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. BTIG Research upgraded Consensus Cloud Solutions from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Wednesday, August 21st. JPMorgan Chase & Co. cut Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and boosted their target price for the stock from $19.00 to $21.00 in a research report on Monday. 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 research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.60.

Consensus Cloud Solutions 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.