Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Stake Lessened by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd cut its stake in shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI - Free Report) by 69.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,208 shares of the company's stock after selling 32,159 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.07% of Consensus Cloud Solutions worth $335,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in CCSI. Capital Performance Advisors LLP bought a new position in Consensus Cloud Solutions in the 3rd quarter worth approximately $29,000. National Bank of Canada FI bought a new position in Consensus Cloud Solutions in the 2nd quarter worth approximately $33,000. SG Americas Securities LLC bought a new position in Consensus Cloud Solutions in the 3rd quarter worth approximately $148,000. Wealth Enhancement Advisory Services LLC bought a new position in Consensus Cloud Solutions in the 3rd quarter worth approximately $242,000. Finally, Massachusetts Financial Services Co. MA bought a new position in Consensus Cloud Solutions in the 2nd quarter worth approximately $188,000. 93.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CCSI has been the subject of a number of recent analyst reports. BTIG Research increased their price objective on Consensus Cloud Solutions from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Monday, November 11th. JPMorgan Chase & Co. downgraded Consensus Cloud Solutions from a "neutral" rating to an "underweight" rating and upped their target price for the stock from $19.00 to $21.00 in a research report on Monday, September 9th. Citigroup upped their target price on Consensus Cloud Solutions from $17.00 to $19.00 and gave the stock a "sell" rating in a research report on Tuesday, November 19th. Wedbush upped their target price on Consensus Cloud Solutions from $24.00 to $32.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Finally, Oppenheimer upped their target price 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 company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $26.20.

Consensus Cloud Solutions Stock Down 3.4 %

CCSI traded down $0.83 during trading on Wednesday, reaching $23.50. The stock had a trading volume of 139,739 shares, compared to its average volume of 223,209. Consensus Cloud Solutions, Inc. has a 1-year low of $11.62 and a 1-year high of $27.90. The stock has a 50 day moving average of $23.63 and a two-hundred day moving average of $21.45. The firm has a market capitalization of $453.64 million, a price-to-earnings ratio of 5.14 and a beta of 1.42.

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.