Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Sees Significant Decrease in Short Interest

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) was the recipient of a large decline in short interest during the month of 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. Based on an average trading volume of 140,300 shares, the days-to-cover ratio is currently 4.0 days. Currently, 3.2% of the company’s shares are sold short.

Wall Street Analyst Weigh In

CCSI has been the subject of a number of research reports. JPMorgan Chase & Co. cut shares of Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and upped their price objective for the company from $19.00 to $21.00 in a research note on Monday, September 9th. BTIG Research upgraded 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 research report on Wednesday, August 21st. Finally, Oppenheimer lifted their price objective on Consensus Cloud Solutions from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Consensus Cloud Solutions currently has an average rating of “Hold” and an average target price of $23.60.

Consensus Cloud Solutions Stock Performance

NASDAQ:CCSI traded up $0.32 during midday trading on Wednesday, reaching $21.80. 164,234 shares of the stock traded hands, compared to its average volume of 245,824. The stock has a market capitalization of $419.00 million, a P/E ratio of 4.81 and a beta of 1.37. The company has a fifty day moving average of $22.04 and a 200 day moving average of $18.83. Consensus Cloud Solutions has a 12 month low of $11.62 and a 12 month high of $28.09.

Consensus Cloud Solutions (NASDAQ:CCSI) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.26 earnings per share (EPS) for the quarter, beating 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 net margin of 25.72% and a negative return on equity of 57.77%. On average, analysts predict that Consensus Cloud Solutions will post 4.86 EPS for the current fiscal year.

Institutional Trading of Consensus Cloud Solutions

Large investors have recently added to or reduced their stakes in the stock. Creative Planning purchased a new stake in shares of Consensus Cloud Solutions in the 3rd quarter worth about $285,000. CWM LLC raised its stake in Consensus Cloud Solutions by 87.3% in the third quarter. CWM LLC now owns 16,469 shares of the company’s stock worth $388,000 after buying an additional 7,677 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Consensus Cloud Solutions in the third quarter worth about $148,000. AQR Capital Management LLC boosted its position in Consensus Cloud Solutions by 115.4% during the 2nd quarter. AQR Capital Management LLC now owns 672,803 shares of the company’s stock valued at $11,041,000 after acquiring an additional 360,476 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in Consensus Cloud Solutions by 59.9% during the 2nd quarter. Squarepoint Ops LLC now owns 37,902 shares of the company’s stock valued at $651,000 after acquiring an additional 14,194 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

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.