JPMorgan Chase & Co. Lowers Consensus Cloud Solutions (NASDAQ:CCSI) to Underweight

JPMorgan Chase & Co. cut shares of Consensus Cloud Solutions (NASDAQ:CCSI) from a neutral rating to an underweight rating in a report issued on Monday, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $21.00 price target on the stock, up from their prior price target of $19.00.

CCSI has been the topic of several other research reports. BTIG Research upgraded Consensus Cloud Solutions from a neutral rating to a buy rating and set a $30.00 target price on the stock in a research note on Wednesday, August 21st. Oppenheimer lifted their price objective on shares of Consensus Cloud Solutions from $20.00 to $23.00 and gave the company an outperform rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $23.60.

Consensus Cloud Solutions Stock Performance

Shares of NASDAQ CCSI opened at $21.77 on Monday. The company has a market cap of $418.42 million, a P/E ratio of 4.81 and a beta of 1.38. Consensus Cloud Solutions has a 52-week low of $11.62 and a 52-week high of $28.09. The firm’s fifty day moving average is $20.68 and its two-hundred day moving average is $17.51.

Consensus Cloud Solutions (NASDAQ:CCSI) last released its quarterly 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. Consensus Cloud Solutions had a net margin of 25.72% and a negative return on equity of 57.77%. The firm had revenue of $87.50 million during the quarter, compared to analysts’ expectations of $87.10 million. As a group, analysts forecast that Consensus Cloud Solutions will post 4.47 EPS for the current fiscal year.

Institutional Trading of Consensus Cloud Solutions

Several hedge funds have recently modified their holdings of CCSI. SummerHaven Investment Management LLC grew its stake in shares of Consensus Cloud Solutions by 3.6% during the second quarter. SummerHaven Investment Management LLC now owns 22,426 shares of the company’s stock worth $385,000 after purchasing an additional 769 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Consensus Cloud Solutions by 132.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,691 shares of the company’s stock valued at $44,000 after acquiring an additional 962 shares during the period. Bridge City Capital LLC boosted its position in shares of Consensus Cloud Solutions by 2.2% during the 1st quarter. Bridge City Capital LLC now owns 57,577 shares of the company’s stock worth $913,000 after purchasing an additional 1,245 shares in the last quarter. Rhumbline Advisers grew its position in Consensus Cloud Solutions by 4.8% during the second quarter. Rhumbline Advisers now owns 30,358 shares of the company’s stock worth $522,000 after buying an additional 1,379 shares during the period. Finally, National Bank of Canada FI purchased a new position in shares of Consensus Cloud Solutions in the second quarter valued at $33,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.