Millennium Management LLC Has $7.57 Million Stock Position in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI)

Millennium Management LLC cut its stake in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) by 15.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 440,382 shares of the company’s stock after selling 82,701 shares during the period. Millennium Management LLC owned about 2.29% of Consensus Cloud Solutions worth $7,566,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Marshall Wace LLP grew its position in Consensus Cloud Solutions by 437.2% in the second quarter. Marshall Wace LLP now owns 682,669 shares of the company’s stock valued at $11,728,000 after acquiring an additional 555,584 shares during the period. Heron Bay Capital Management grew its holdings in shares of Consensus Cloud Solutions by 63.7% in the 1st quarter. Heron Bay Capital Management now owns 1,100,425 shares of the company’s stock worth $17,453,000 after purchasing an additional 428,232 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Consensus Cloud Solutions by 115.4% during the 2nd quarter. AQR Capital Management LLC now owns 672,803 shares of the company’s stock worth $11,041,000 after purchasing an additional 360,476 shares in the last quarter. Kent Lake Capital LLC bought a new position in Consensus Cloud Solutions during the 1st quarter valued at about $2,312,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Consensus Cloud Solutions by 3,943.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 114,549 shares of the company’s stock valued at $1,817,000 after buying an additional 111,716 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Consensus Cloud Solutions Price Performance

CCSI opened at $21.56 on Thursday. The firm has a 50 day simple moving average of $21.86 and a 200 day simple moving average of $18.58. Consensus Cloud Solutions, Inc. has a fifty-two week low of $11.62 and a fifty-two week high of $28.09. The company has a market cap of $414.38 million, a price-to-earnings ratio of 4.76 and a beta of 1.37.

Consensus Cloud Solutions (NASDAQ:CCSI) last released 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. The firm had revenue of $87.50 million during the quarter, compared to analyst estimates of $87.10 million. Consensus Cloud Solutions had a net margin of 25.72% and a negative return on equity of 57.77%. As a group, analysts expect that Consensus Cloud Solutions, Inc. will post 4.86 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on CCSI. JPMorgan Chase & Co. lowered shares of Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and raised their price objective for the stock from $19.00 to $21.00 in a report on Monday, September 9th. BTIG Research upgraded Consensus Cloud Solutions from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Wednesday, August 21st. Finally, Oppenheimer increased their price objective on shares of 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. Based on data from MarketBeat, Consensus Cloud Solutions presently has a consensus rating of “Hold” and an average target price 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.