KLP Kapitalforvaltning AS Acquires New Stake in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI)

KLP Kapitalforvaltning AS purchased a new position in shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 12,700 shares of the company's stock, valued at approximately $303,000. KLP Kapitalforvaltning AS owned 0.07% of Consensus Cloud Solutions at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CCSI. New South Capital Management Inc. purchased a new stake in shares of Consensus Cloud Solutions during the 4th quarter worth approximately $4,223,000. JPMorgan Chase & Co. grew its holdings in Consensus Cloud Solutions by 223.1% during the third quarter. JPMorgan Chase & Co. now owns 197,456 shares of the company's stock valued at $4,650,000 after purchasing an additional 136,349 shares during the period. State Street Corp increased its position in Consensus Cloud Solutions by 15.1% in the third quarter. State Street Corp now owns 450,415 shares of the company's stock worth $10,607,000 after buying an additional 59,219 shares during the last quarter. Denali Advisors LLC raised its stake in shares of Consensus Cloud Solutions by 36.8% in the fourth quarter. Denali Advisors LLC now owns 204,932 shares of the company's stock valued at $4,890,000 after buying an additional 55,174 shares during the period. Finally, Kennondale Capital Management LLC purchased a new position in shares of Consensus Cloud Solutions during the 4th quarter valued at $981,000. Hedge funds and other institutional investors own 93.93% of the company's stock.

Consensus Cloud Solutions Stock Down 1.7 %

Shares of NASDAQ:CCSI traded down $0.34 during midday trading on Friday, reaching $19.17. 110,013 shares of the company traded hands, compared to its average volume of 157,573. The firm's fifty day moving average price is $24.58 and its two-hundred day moving average price is $24.27. The firm has a market capitalization of $374.31 million, a price-to-earnings ratio of 4.15 and a beta of 1.47. Consensus Cloud Solutions, Inc. has a 12 month low of $11.62 and a 12 month high of $32.10.

Consensus Cloud Solutions (NASDAQ:CCSI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.10). Consensus Cloud Solutions had a net margin of 25.52% and a negative return on equity of 83.93%. The company had revenue of $86.98 million for the quarter, compared to the consensus estimate of $85.07 million. Analysts forecast that Consensus Cloud Solutions, Inc. will post 5.17 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CCSI shares. Citigroup lifted their price objective on Consensus Cloud Solutions from $19.00 to $20.00 and gave the stock a "sell" rating in a report on Friday, January 17th. Oppenheimer increased their target price on shares of Consensus Cloud Solutions from $27.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Two analysts have rated the stock with a sell rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $27.40.

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.