Sei Investments Co. Boosts Stock Holdings in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI)

Sei Investments Co. boosted its position in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) by 18.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,594 shares of the company’s stock after buying an additional 2,751 shares during the quarter. Sei Investments Co. owned approximately 0.09% of Consensus Cloud Solutions worth $302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in CCSI. PNC Financial Services Group Inc. grew its stake in shares of Consensus Cloud Solutions by 132.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,691 shares of the company’s stock worth $44,000 after acquiring an additional 962 shares during the period. National Bank of Canada FI bought a new stake in shares of Consensus Cloud Solutions in the second quarter valued at approximately $33,000. CWM LLC lifted its stake in shares of Consensus Cloud Solutions by 388.4% during the 2nd quarter. CWM LLC now owns 8,792 shares of the company’s stock valued at $151,000 after buying an additional 6,992 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Consensus Cloud Solutions during the second quarter worth $188,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Consensus Cloud Solutions by 20.0% in the first quarter. Meeder Asset Management Inc. now owns 14,480 shares of the company’s stock worth $230,000 after acquiring an additional 2,414 shares during the period. 93.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CCSI shares. Oppenheimer increased their price objective 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. cut shares of Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $19.00 to $21.00 in a research note on Monday, September 9th. Finally, BTIG Research upgraded Consensus Cloud Solutions from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Consensus Cloud Solutions presently has a consensus rating of “Hold” and an average price target of $23.60.

Consensus Cloud Solutions Stock Performance

Shares of NASDAQ:CCSI opened at $21.20 on Friday. The firm has a market capitalization of $407.46 million, a PE ratio of 4.69 and a beta of 1.37. Consensus Cloud Solutions, Inc. has a 52-week low of $11.62 and a 52-week high of $28.09. The firm has a fifty day moving average of $21.87 and a 200 day moving average of $18.60.

Consensus Cloud Solutions (NASDAQ:CCSI) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.11 by $0.15. The firm had revenue of $87.50 million for the quarter, compared to analyst estimates of $87.10 million. Consensus Cloud Solutions had a negative return on equity of 57.77% and a net margin of 25.72%. On average, sell-side analysts forecast that Consensus Cloud Solutions, Inc. will post 4.86 EPS for the current fiscal 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.