Allspring Global Investments Holdings LLC Sells 100,447 Shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI)

Allspring Global Investments Holdings LLC decreased its position in shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) by 87.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 14,102 shares of the company’s stock after selling 100,447 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Consensus Cloud Solutions were worth $242,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CCSI. Bank of New York Mellon Corp grew its holdings in shares of Consensus Cloud Solutions by 3.3% during the second quarter. Bank of New York Mellon Corp now owns 98,013 shares of the company’s stock worth $1,684,000 after purchasing an additional 3,144 shares during the last quarter. SummerHaven Investment Management LLC grew its holdings in Consensus Cloud Solutions by 3.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 22,426 shares of the company’s stock worth $385,000 after acquiring an additional 769 shares during the last quarter. CWM LLC increased its position in Consensus Cloud Solutions by 388.4% in the 2nd quarter. CWM LLC now owns 8,792 shares of the company’s stock valued at $151,000 after acquiring an additional 6,992 shares during the period. Janus Henderson Group PLC raised its stake in shares of Consensus Cloud Solutions by 1.0% during the first quarter. Janus Henderson Group PLC now owns 1,587,963 shares of the company’s stock valued at $25,185,000 after acquiring an additional 15,871 shares during the last quarter. Finally, Kent Lake Capital LLC acquired a new position in shares of Consensus Cloud Solutions during the first quarter worth $2,312,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on CCSI shares. 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 report on Wednesday, August 21st. Oppenheimer increased their price target on Consensus Cloud Solutions from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, August 9th.

Consensus Cloud Solutions Stock Performance

NASDAQ:CCSI opened at $22.70 on Friday. Consensus Cloud Solutions, Inc. has a 52 week low of $11.62 and a 52 week high of $31.38. The firm’s fifty day moving average is $20.25 and its 200-day moving average is $17.38. The firm has a market cap of $436.29 million, a P/E ratio of 5.01 and a beta of 1.38.

Consensus Cloud Solutions (NASDAQ:CCSI) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.15. Consensus Cloud Solutions had a net margin of 25.72% and a negative return on equity of 57.77%. The business had revenue of $87.50 million for the quarter, compared to analysts’ expectations of $87.10 million. As a group, sell-side analysts anticipate that Consensus Cloud Solutions, Inc. will post 4.51 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.