Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Short Interest Update

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) saw a large decline in short interest in September. As of September 30th, there was short interest totalling 559,400 shares, a decline of 11.0% from the September 15th total of 628,500 shares. Currently, 3.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 140,300 shares, the days-to-cover ratio is currently 4.0 days.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CCSI. Oppenheimer upped their target price on Consensus Cloud Solutions from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. lowered Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and lifted their target price for the stock from $19.00 to $21.00 in a report on Monday, September 9th. Finally, BTIG Research raised shares of Consensus Cloud Solutions from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $23.60.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CCSI. Janus Henderson Group PLC raised its position in Consensus Cloud Solutions by 1.0% during the first quarter. Janus Henderson Group PLC now owns 1,587,963 shares of the company’s stock valued at $25,185,000 after buying an additional 15,871 shares during the period. Heron Bay Capital Management grew its stake in Consensus Cloud Solutions by 63.7% during the 1st quarter. Heron Bay Capital Management now owns 1,100,425 shares of the company’s stock valued at $17,453,000 after acquiring an additional 428,232 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Consensus Cloud Solutions by 437.2% in the 2nd quarter. Marshall Wace LLP now owns 682,669 shares of the company’s stock valued at $11,728,000 after purchasing an additional 555,584 shares during the period. AQR Capital Management LLC lifted its position in shares of Consensus Cloud Solutions by 115.4% in the second quarter. AQR Capital Management LLC now owns 672,803 shares of the company’s stock worth $11,041,000 after purchasing an additional 360,476 shares in the last quarter. Finally, Kent Lake Capital LLC acquired a new stake in shares of Consensus Cloud Solutions during the first quarter worth approximately $2,312,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Consensus Cloud Solutions Trading Down 0.9 %

Shares of NASDAQ CCSI traded down $0.20 during mid-day trading on Thursday, reaching $21.60. The company had a trading volume of 121,015 shares, compared to its average volume of 245,209. The company has a 50-day moving average price of $22.04 and a two-hundred day moving average price of $18.83. The stock has a market cap of $415.15 million, a PE ratio of 4.75 and a beta of 1.37. Consensus Cloud Solutions has a 1-year low of $11.62 and a 1-year high of $28.09.

Consensus Cloud Solutions (NASDAQ:CCSI) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.15. The firm had revenue of $87.50 million for the quarter, compared to analysts’ expectations of $87.10 million. Consensus Cloud Solutions had a negative return on equity of 57.77% and a net margin of 25.72%. On average, research analysts expect that Consensus Cloud Solutions will post 4.86 EPS for the current year.

About Consensus Cloud Solutions

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.