Heron Bay Capital Management Purchases 32,482 Shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI)

Heron Bay Capital Management grew its position in shares of Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 965,314 shares of the company’s stock after buying an additional 32,482 shares during the period. Consensus Cloud Solutions comprises 4.8% of Heron Bay Capital Management’s portfolio, making the stock its 3rd largest position. Heron Bay Capital Management owned 5.00% of Consensus Cloud Solutions worth $23,032,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. KLP Kapitalforvaltning AS bought a new position in Consensus Cloud Solutions during the fourth quarter worth $303,000. Quantbot Technologies LP bought a new position in shares of Consensus Cloud Solutions in the 4th quarter worth about $81,000. Kennondale Capital Management LLC bought a new position in shares of Consensus Cloud Solutions in the 4th quarter worth about $981,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Consensus Cloud Solutions by 5.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,560 shares of the company’s stock valued at $562,000 after buying an additional 1,195 shares during the period. Finally, Inspire Advisors LLC bought a new stake in shares of Consensus Cloud Solutions during the 4th quarter valued at about $412,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Consensus Cloud Solutions Stock Down 4.2 %

Consensus Cloud Solutions stock opened at $23.65 on Friday. The company’s fifty day simple moving average is $26.21 and its 200-day simple moving average is $24.38. The stock has a market cap of $461.79 million, a P/E ratio of 5.12 and a beta of 1.45. 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) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.10). Consensus Cloud Solutions had a negative return on equity of 83.93% and a net margin of 25.52%. The business had revenue of $86.98 million during the quarter, compared to the consensus estimate of $85.07 million. On average, equities research analysts expect that Consensus Cloud Solutions, Inc. will post 5.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CCSI shares. Citigroup raised their target price on shares of Consensus Cloud Solutions from $19.00 to $20.00 and gave the stock a “sell” rating in a report on Friday, January 17th. Oppenheimer raised their price target on Consensus Cloud Solutions from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $27.40.

Consensus Cloud Solutions Company Profile

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.