Wedbush Maintains Consensus Cloud Solutions (CCSI) Outperform Recommendation

Fintel reports that on May 11, 2023, Wedbush maintained coverage of Consensus Cloud Solutions (NASDAQ:CCSI) with a Outperform recommendation.

Analyst Price Forecast Suggests 86.56% Upside

As of May 11, 2023, the average one-year price target for Consensus Cloud Solutions is 62.42. The forecasts range from a low of 50.50 to a high of $81.90. The average price target represents an increase of 86.56% from its latest reported closing price of 33.46.

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The projected annual revenue for Consensus Cloud Solutions is 408MM, an increase of 11.98%. The projected annual non-GAAP EPS is 5.79.

What is the Fund Sentiment?

There are 460 funds or institutions reporting positions in Consensus Cloud Solutions. This is a decrease of 6 owner(s) or 1.29% in the last quarter. Average portfolio weight of all funds dedicated to CCSI is 0.12%, an increase of 8.99%. Total shares owned by institutions increased in the last three months by 2.01% to 23,321K shares. The put/call ratio of CCSI is 0.07, indicating a bullish outlook.

What are Other Shareholders Doing?

ArrowMark Colorado Holdings holds 1,607K shares representing 8.17% ownership of the company. In it's prior filing, the firm reported owning 1,398K shares, representing an increase of 13.01%. The firm increased its portfolio allocation in CCSI by 27.17% over the last quarter.

IJR - iShares Core S&P Small-Cap ETF holds 1,308K shares representing 6.65% ownership of the company. In it's prior filing, the firm reported owning 1,295K shares, representing an increase of 1.01%. The firm increased its portfolio allocation in CCSI by 4.45% over the last quarter.

Janus Henderson Group holds 1,156K shares representing 5.88% ownership of the company. In it's prior filing, the firm reported owning 1,167K shares, representing a decrease of 0.91%. The firm increased its portfolio allocation in CCSI by 7.39% over the last quarter.

Gates Capital Management holds 1,077K shares representing 5.48% ownership of the company. In it's prior filing, the firm reported owning 1,130K shares, representing a decrease of 4.92%. The firm decreased its portfolio allocation in CCSI by 7.15% over the last quarter.

Macquarie Group holds 1,046K shares representing 5.32% ownership of the company. In it's prior filing, the firm reported owning 1,019K shares, representing an increase of 2.57%. The firm increased its portfolio allocation in CCSI by 12.30% 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.

This story originally appeared on Fintel.