Renaissance Technologies LLC Purchases 72,800 Shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI)

Renaissance Technologies LLC boosted its position in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) by 165.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,900 shares of the company’s stock after acquiring an additional 72,800 shares during the period. Renaissance Technologies LLC owned 0.61% of Consensus Cloud Solutions worth $2,008,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCSI. Aristides Capital LLC bought a new position in Consensus Cloud Solutions during the fourth quarter worth about $252,000. PNC Financial Services Group Inc. boosted its holdings 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 during the last quarter. Bridge City Capital LLC boosted its holdings 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 during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Consensus Cloud Solutions by 3,943.4% during the first 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. Finally, GSA Capital Partners LLP boosted its holdings in Consensus Cloud Solutions by 323.3% during the first quarter. GSA Capital Partners LLP now owns 60,564 shares of the company’s stock worth $961,000 after buying an additional 46,255 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CCSI. Oppenheimer raised their target price on Consensus Cloud Solutions from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. lowered Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $19.00 to $21.00 in a research report on Monday, September 9th. Finally, BTIG Research raised Consensus Cloud Solutions from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat, Consensus Cloud Solutions currently has an average rating of “Hold” and an average target price of $23.60.

Consensus Cloud Solutions Stock Performance

Shares of Consensus Cloud Solutions stock opened at $22.34 on Thursday. The business’s 50 day simple moving average is $21.90 and its 200 day simple moving average is $18.34. Consensus Cloud Solutions, Inc. has a 52-week low of $11.62 and a 52-week high of $28.09. The firm has a market cap of $429.37 million, a PE ratio of 4.93 and a beta of 1.38.

Consensus Cloud Solutions (NASDAQ:CCSI) last announced its earnings results on Thursday, August 8th. The company reported $1.26 earnings per share (EPS) for the quarter, beating 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 business had revenue of $87.50 million for the quarter, compared to analyst estimates of $87.10 million. As a group, equities research analysts predict that Consensus Cloud Solutions, Inc. will post 4.86 EPS for the current year.

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.