Consensus Cloud Solutions, Inc. $CCSI Shares Acquired by Heron Bay Capital Management

Heron Bay Capital Management raised its position in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) by 2.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,203,726 shares of the company’s stock after buying an additional 24,980 shares during the period. Consensus Cloud Solutions accounts for about 6.6% of Heron Bay Capital Management’s investment portfolio, making the stock its biggest position. Heron Bay Capital Management owned 0.06% of Consensus Cloud Solutions worth $35,353,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of Consensus Cloud Solutions by 40.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,978 shares of the company’s stock valued at $46,000 after acquiring an additional 570 shares during the last quarter. Quantbot Technologies LP acquired a new position in Consensus Cloud Solutions in the second quarter worth $112,000. Strs Ohio bought a new stake in shares of Consensus Cloud Solutions during the first quarter worth $134,000. Intech Investment Management LLC acquired a new stake in shares of Consensus Cloud Solutions in the third quarter valued at $218,000. Finally, One Wealth Advisors LLC bought a new position in shares of Consensus Cloud Solutions in the third quarter valued at about $236,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Consensus Cloud Solutions Stock Up 0.2%

NASDAQ:CCSI opened at $31.54 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 40.03. Consensus Cloud Solutions, Inc. has a 12-month low of $17.84 and a 12-month high of $31.67. The stock’s fifty day simple moving average is $24.66 and its 200-day simple moving average is $25.32. The firm has a market capitalization of $595.16 million, a P/E ratio of 7.25 and a beta of 1.47.

Consensus Cloud Solutions (NASDAQ:CCSI) last released its earnings results on Monday, February 9th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.10. Consensus Cloud Solutions had a negative return on equity of 579.06% and a net margin of 24.17%.The firm had revenue of $87.07 million for the quarter, compared to analyst estimates of $86.62 million. Equities research analysts expect that Consensus Cloud Solutions, Inc. will post 5.17 earnings per share for the current year.

Analyst Ratings Changes

CCSI has been the subject of a number of research analyst reports. Wedbush boosted their target price on shares of Consensus Cloud Solutions from $26.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Wall Street Zen upgraded shares of Consensus Cloud Solutions from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Consensus Cloud Solutions in a report on Wednesday, January 21st. Finally, BTIG Research lifted their target price on Consensus Cloud Solutions from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.50.

Consensus Cloud Solutions Profile

Consensus Cloud Solutions (NASDAQ: CCSI) is a provider of cloud consulting and managed services focused on helping organizations accelerate digital transformation. The company specializes in designing, deploying and supporting cloud architectures that leverage leading public and private cloud platforms, including infrastructure as a service (IaaS), platform as a service (PaaS) and software as a service (SaaS) environments. Its end-to-end approach encompasses strategy, implementation and ongoing optimization to align technology investments with business objectives.

The firm’s core offerings include cloud migration and deployment, application modernization, data analytics and cybersecurity solutions.