Citigroup Raises Consensus Cloud Solutions (NASDAQ:CCSI) Price Target to $20.00

Consensus Cloud Solutions (NASDAQ:CCSI) had its price objective raised by investment analysts at Citigroup from $19.00 to $20.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. Citigroup’s price target indicates a potential downside of 20.62% from the stock’s current price.

A number of other research analysts have also recently commented on CCSI. Wedbush increased their price target on shares of Consensus Cloud Solutions from $24.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. BTIG Research boosted their target price on Consensus Cloud Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Oppenheimer raised their price target on Consensus Cloud Solutions from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.40.

Consensus Cloud Solutions Trading Up 2.0 %

Shares of NASDAQ:CCSI traded up $0.51 during trading on Friday, reaching $25.20. The company had a trading volume of 62,515 shares, compared to its average volume of 85,977. The company has a fifty day moving average of $24.50 and a two-hundred day moving average of $22.32. The stock has a market capitalization of $486.26 million, a P/E ratio of 5.50 and a beta of 1.41. Consensus Cloud Solutions has a 12 month low of $11.62 and a 12 month high of $27.79.

Hedge Funds Weigh In On Consensus Cloud Solutions

Several hedge funds and other institutional investors have recently modified their holdings of CCSI. Janus Henderson Group PLC lifted its stake in Consensus Cloud Solutions by 26.4% during the 3rd quarter. Janus Henderson Group PLC now owns 2,380,874 shares of the company’s stock valued at $56,070,000 after acquiring an additional 498,010 shares during the period. Marshall Wace LLP grew its position in Consensus Cloud Solutions by 437.2% in the 2nd quarter. Marshall Wace LLP now owns 682,669 shares of the company’s stock worth $11,728,000 after purchasing an additional 555,584 shares during the period. AQR Capital Management LLC increased its holdings in Consensus Cloud Solutions by 115.4% during the second quarter. AQR Capital Management LLC now owns 672,803 shares of the company’s stock valued at $11,041,000 after buying an additional 360,476 shares during the last quarter. State Street Corp lifted its holdings in Consensus Cloud Solutions by 15.1% during the third quarter. State Street Corp now owns 450,415 shares of the company’s stock valued at $10,607,000 after purchasing an additional 59,219 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Consensus Cloud Solutions by 1.3% in the third quarter. Geode Capital Management LLC now owns 421,123 shares of the company’s stock worth $9,920,000 after purchasing an additional 5,299 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

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.