Kennondale Capital Management LLC Purchases 17,460 Shares of Consensus Cloud Solutions, Inc. $CCSI

Kennondale Capital Management LLC increased its position in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) by 42.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 58,593 shares of the company’s stock after purchasing an additional 17,460 shares during the quarter. Consensus Cloud Solutions makes up about 1.3% of Kennondale Capital Management LLC’s investment portfolio, making the stock its 26th largest holding. Kennondale Capital Management LLC’s holdings in Consensus Cloud Solutions were worth $1,721,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in 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 worth $46,000 after purchasing an additional 570 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Consensus Cloud Solutions in the 2nd quarter worth about $112,000. Strs Ohio bought a new position in shares of Consensus Cloud Solutions in the 1st quarter worth about $134,000. Intech Investment Management LLC purchased a new position in Consensus Cloud Solutions during the 3rd quarter valued at about $218,000. Finally, One Wealth Advisors LLC bought a new stake in Consensus Cloud Solutions during the third quarter worth about $236,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Consensus Cloud Solutions Trading Down 1.0%

NASDAQ:CCSI opened at $29.78 on Tuesday. The stock has a market cap of $561.95 million, a price-to-earnings ratio of 6.85 and a beta of 1.46. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 40.03. The company’s 50 day moving average price is $24.16 and its 200-day moving average price is $25.20. Consensus Cloud Solutions, Inc. has a 52 week low of $17.84 and a 52 week high of $30.83.

Consensus Cloud Solutions (NASDAQ:CCSI) last released its quarterly earnings data on Monday, February 9th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.10. The business had revenue of $87.07 million for the quarter, compared to analysts’ expectations of $86.62 million. Consensus Cloud Solutions had a negative return on equity of 579.06% and a net margin of 24.17%. On average, equities research analysts forecast that Consensus Cloud Solutions, Inc. will post 5.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Consensus Cloud Solutions in a research note on Wednesday, January 21st. Wall Street Zen upgraded Consensus Cloud Solutions from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. BTIG Research lifted their price objective 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. Finally, Wedbush boosted their target price on Consensus Cloud Solutions from $26.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.50.

About Consensus Cloud Solutions

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.