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

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

A number of other analysts also recently weighed in on the company. Oppenheimer upped their target price on Consensus Cloud Solutions from $20.00 to $23.00 and gave the company an outperform rating in a research report on Friday, August 9th. BTIG Research raised shares of Consensus Cloud Solutions from a neutral rating to a buy rating and set a $30.00 target price on the stock in a 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.com, the company currently has an average rating of Hold and an average price target of $23.60.

Consensus Cloud Solutions Stock Performance

Shares of Consensus Cloud Solutions stock opened at $21.77 on Monday. Consensus Cloud Solutions has a 52-week low of $11.62 and a 52-week high of $28.09. The stock has a market cap of $418.42 million, a PE ratio of 4.81 and a beta of 1.38. The firm has a 50-day moving average of $20.68 and a 200-day moving average of $17.51.

Consensus Cloud Solutions (NASDAQ:CCSI) last announced its earnings results on Thursday, August 8th. The company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.11 by $0.15. The company had revenue of $87.50 million for the quarter, compared to analysts’ expectations of $87.10 million. Consensus Cloud Solutions had a net margin of 25.72% and a negative return on equity of 57.77%. Equities research analysts predict that Consensus Cloud Solutions will post 4.47 earnings per share for the current fiscal year.

Institutional Trading of Consensus Cloud Solutions

A number of large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its position in shares of Consensus Cloud Solutions by 13.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 269,965 shares of the company’s stock valued at $7,076,000 after purchasing an additional 31,433 shares in the last quarter. Trexquant Investment LP purchased a new position in Consensus Cloud Solutions in the fourth quarter worth $923,000. Aristides Capital LLC purchased a new position in shares of Consensus Cloud Solutions during the 4th quarter valued at about $252,000. PNC Financial Services Group Inc. lifted its holdings in shares of 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 worth $44,000 after acquiring an additional 962 shares during the last quarter. Finally, Bridge City Capital LLC boosted its position 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 valued at $913,000 after buying an additional 1,245 shares during the period. 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.