Consensus Cloud Solutions (NASDAQ:CCSI) Receives New Coverage from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Consensus Cloud Solutions (NASDAQ:CCSIGet Rating) in a report issued on Monday morning, The Fly reports. The brokerage issued a neutral rating and a $54.00 target price on the stock.

Other research analysts also recently issued research reports about the company. Wedbush increased their target price on Consensus Cloud Solutions from $56.00 to $67.00 in a report on Wednesday, August 10th. Citigroup initiated coverage on Consensus Cloud Solutions in a report on Friday, August 19th. They issued a neutral rating and a $65.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of 64.20.

Consensus Cloud Solutions Price Performance

Shares of NASDAQ:CCSI opened at 57.74 on Monday. The company has a market cap of $1.14 billion and a P/E ratio of 18.75. Consensus Cloud Solutions has a 1 year low of 37.75 and a 1 year high of 65.68. The stock’s fifty day moving average price is 52.94 and its 200-day moving average price is 50.54.

Institutional Trading of Consensus Cloud Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Consensus Cloud Solutions by 3.4% in the third quarter. BlackRock Inc. now owns 2,706,830 shares of the company’s stock worth $128,035,000 after buying an additional 88,731 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Consensus Cloud Solutions by 5.1% during the third quarter. Vanguard Group Inc. now owns 2,023,054 shares of the company’s stock worth $95,690,000 after purchasing an additional 97,525 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of Consensus Cloud Solutions by 12.3% during the third quarter. Macquarie Group Ltd. now owns 1,018,867 shares of the company’s stock worth $48,213,000 after purchasing an additional 111,479 shares in the last quarter. Gates Capital Management Inc. purchased a new stake in shares of Consensus Cloud Solutions during the first quarter worth about $56,532,000. Finally, Cardinal Capital Management LLC CT purchased a new stake in shares of Consensus Cloud Solutions during the third quarter worth about $32,156,000. Hedge funds and other institutional investors own 88.47% of the company’s stock.

About Consensus Cloud Solutions

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Consensus Cloud Solutions, Inc, together with its subsidiaries, provides information delivery services with a software-as-a-service platform worldwide. Its products and solutions include eFax, an online faxing solution, as well as MyFax, MetroFax, Sfax, SRfax, and other brands; eFax Corporate, a digital cloud-fax technology; jsign, which provides electronic and digital signature solutions; Unite, a single platform that allows the user to choose between several protocols to send and receive healthcare information in an environment that can integrate into an existing electronic health record (EHR) system or stand-alone if no EHR is present; Signal, a solution that integrates with a hospital's EHR system and uses rules-based triggering logic to automatically send admit, discharge, and transfer notifications using cloud fax and direct secure messaging technology; and Clarity that transforms unstructured documents into structured actionable data.

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