JPMorgan Chase & Co. Initiates Coverage on Consensus Cloud Solutions (NASDAQ:CCSI)

JPMorgan Chase & Co. assumed coverage on shares of Consensus Cloud Solutions (NASDAQ:CCSIGet Rating) in a research note issued on Monday, The Fly reports. The firm set a “neutral” rating and a $54.00 price target on the stock.

Other equities analysts have also recently issued research reports about the company. Citigroup began coverage on Consensus Cloud Solutions in a report on Friday, August 19th. They set a “neutral” rating and a $65.00 price target for the company. Wedbush raised their price target on Consensus Cloud Solutions from $56.00 to $67.00 in a report on Wednesday, August 10th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Consensus Cloud Solutions currently has a consensus rating of “Moderate Buy” and an average price target of 64.20.

Consensus Cloud Solutions Trading Up 3.3 %

Shares of CCSI opened at 55.23 on Monday. The business’s 50 day moving average is 52.73 and its 200 day moving average is 50.49. The company has a market capitalization of $1.10 billion and a PE ratio of 17.93. Consensus Cloud Solutions has a 12-month low of 37.75 and a 12-month high of 65.68.

Hedge Funds Weigh In On Consensus Cloud Solutions

Several institutional investors have recently added to or reduced their stakes in CCSI. Texas Permanent School Fund boosted its holdings in shares of Consensus Cloud Solutions by 2.4% in the 2nd quarter. Texas Permanent School Fund now owns 11,562 shares of the company’s stock worth $505,000 after purchasing an additional 274 shares during the period. 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 purchasing an additional 340 shares during the period. Credit Suisse AG boosted its holdings in shares of Consensus Cloud Solutions by 3.4% in the 2nd quarter. Credit Suisse AG now owns 11,626 shares of the company’s stock worth $507,000 after purchasing an additional 379 shares during the period. Mutual of America Capital Management LLC boosted its holdings in shares of Consensus Cloud Solutions by 17.2% in the 2nd quarter. Mutual of America Capital Management LLC now owns 2,687 shares of the company’s stock worth $117,000 after purchasing an additional 394 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of Consensus Cloud Solutions in the 1st quarter worth approximately $25,000. Hedge funds and other institutional investors own 88.47% of the company’s stock.

About Consensus Cloud Solutions

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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.

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