Shell Asset Management Co. Has $129,000 Stock Position in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI)

Posted by Defense World Staff on Mar 2nd, 2023

Shell Asset Management Co. trimmed its stake in shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI – Get Rating) by 20.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,721 shares of the company’s stock after selling 695 shares during the quarter. Shell Asset Management Co.’s holdings in Consensus Cloud Solutions were worth $129,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC boosted its holdings in shares of Consensus Cloud Solutions by 2.2% in the 2nd quarter. Los Angeles Capital Management LLC now owns 15,948 shares of the company’s stock worth $697,000 after acquiring an additional 340 shares in the last quarter. Nordea Investment Management AB acquired a new position in shares of Consensus Cloud Solutions in the 2nd quarter worth approximately $19,035,000. Truvestments Capital LLC acquired a new position in shares of Consensus Cloud Solutions in the 2nd quarter worth approximately $70,000. Rice Hall James & Associates LLC boosted its holdings in shares of Consensus Cloud Solutions by 29.5% in the 2nd quarter. Rice Hall James & Associates LLC now owns 217,495 shares of the company’s stock worth $9,500,000 after acquiring an additional 49,489 shares in the last quarter. Finally, Bridge City Capital LLC boosted its holdings in shares of Consensus Cloud Solutions by 3.3% in the 3rd quarter. Bridge City Capital LLC now owns 32,307 shares of the company’s stock worth $1,528,000 after acquiring an additional 1,027 shares in the last quarter. 92.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JPMorgan Chase & Co. started coverage on Consensus Cloud Solutions in a report on Monday, November 21st. They issued a “neutral” rating and a $54.00 target price on the stock. JMP Securities reduced their price objective on Consensus Cloud Solutions from $70.00 to $60.00 in a report on Monday. Finally, Wedbush reduced their price objective on Consensus Cloud Solutions from $67.00 to $58.00 and set an “outperform” rating on the stock in a report on Monday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $60.40.

Consensus Cloud Solutions Stock Performance

Shares of Consensus Cloud Solutions stock opened at $40.61 on Thursday. The firm has a fifty day moving average of $55.79 and a two-hundred day moving average of $54.19. The stock has a market capitalization of $805.30 million, a price-to-earnings ratio of 10.95 and a beta of 1.31. Consensus Cloud Solutions, Inc. has a 52 week low of $37.75 and a 52 week high of $65.68.

About Consensus Cloud Solutions

(Get Rating)

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.