Fintel reports that on August 9, 2023, Oppenheimer maintained coverage of Consensus Cloud Solutions (NASDAQ:CCSI) with a Outperform recommendation.
Analyst Price Forecast Suggests 67.86% Upside
As of August 2, 2023, the average one-year price target for Consensus Cloud Solutions is 52.02. The forecasts range from a low of 37.37 to a high of $81.90. The average price target represents an increase of 67.86% from its latest reported closing price of 30.99.
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The projected annual revenue for Consensus Cloud Solutions is 408MM, an increase of 11.47%. The projected annual non-GAAP EPS is 5.79.
What is the Fund Sentiment?
There are 443 funds or institutions reporting positions in Consensus Cloud Solutions. This is a decrease of 22 owner(s) or 4.73% in the last quarter. Average portfolio weight of all funds dedicated to CCSI is 0.10%, a decrease of 23.98%. Total shares owned by institutions increased in the last three months by 0.28% to 23,353K shares. 
The put/call ratio of CCSI is 0.07, indicating a bullish outlook.
What are Other Shareholders Doing?
ArrowMark Colorado Holdings holds 2,068K shares representing 10.52% ownership of the company. In it's prior filing, the firm reported owning 1,607K shares, representing an increase of 22.29%. The firm decreased its portfolio allocation in CCSI by 22.32% over the last quarter.
Gates Capital Management holds 1,847K shares representing 9.39% ownership of the company. In it's prior filing, the firm reported owning 1,077K shares, representing an increase of 41.66%. The firm decreased its portfolio allocation in CCSI by 8.09% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 1,284K shares representing 6.53% ownership of the company. In it's prior filing, the firm reported owning 1,308K shares, representing a decrease of 1.82%. The firm decreased its portfolio allocation in CCSI by 39.49% over the last quarter.
Janus Henderson Group holds 1,237K shares representing 6.29% ownership of the company. In it's prior filing, the firm reported owning 1,156K shares, representing an increase of 6.51%. The firm decreased its portfolio allocation in CCSI by 37.39% over the last quarter.
Macquarie Group holds 1,074K shares representing 5.46% ownership of the company. In it's prior filing, the firm reported owning 1,046K shares, representing an increase of 2.66%. The firm decreased its portfolio allocation in CCSI by 34.48% over the last quarter.
Consensus Cloud Solutions Background Information
(This description is provided by the company.)
Consensus Cloud Solutions, Inc. has been a global leader of digital cloud fax technology for over 25 years. The company leverages its technology heritage to provide secure solutions that transform simple digital documents into advanced healthcare standard HL7/FHIR for secure data exchange. Consensus offers eFax, a global leader in online faxing, Consensus Unite and Consensus Harmony interoperability solutions, Consensus Signal for secure automatic real-time healthcare communications, Consensus Clarity, an Optical Character recognition (OCR) and Natural Language Processing (NLP) solution, and jSign for electronic digital signatures.
Additional reading:
- Consensus Cloud Solutions, Inc. Reports Second Quarter 2023 Results Reaffirms 2023 Guidance
- Consensus Cloud Solutions, Inc. Reports First Quarter 2023 Results Reaffirms 2023 Guidance
- List of subsidiaries of Consensus Cloud Solutions, Inc.
- Description of Registrant’s securities.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
