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

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 517,300 shares, a decrease of 7.6% from the October 15th total of 559,900 shares. Approximately 2.9% of the company’s shares are short sold. Based on an average trading volume of 126,500 shares, the short-interest ratio is currently 4.1 days.

Hedge Funds Weigh In On Consensus Cloud Solutions

Hedge funds have recently added to or reduced their stakes in the business. Heron Bay Capital Management lifted its position in shares of Consensus Cloud Solutions by 63.7% in the 1st quarter. Heron Bay Capital Management now owns 1,100,425 shares of the company’s stock worth $17,453,000 after buying an additional 428,232 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Consensus Cloud Solutions by 15.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,994 shares of the company’s stock worth $492,000 after acquiring an additional 4,100 shares during the last quarter. Paloma Partners Management Co acquired a new position in Consensus Cloud Solutions in the first quarter valued at approximately $262,000. Kent Lake Capital LLC bought a new position in shares of Consensus Cloud Solutions during the first quarter valued at approximately $2,312,000. Finally, Janus Henderson Group PLC raised its position in shares of Consensus Cloud Solutions by 1.0% during the 1st quarter. Janus Henderson Group PLC now owns 1,587,963 shares of the company’s stock worth $25,185,000 after purchasing an additional 15,871 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CCSI shares. Citigroup upped their price objective on Consensus Cloud Solutions from $17.00 to $19.00 and gave the stock a “sell” rating in a report on Tuesday. Wedbush raised their price objective on Consensus Cloud Solutions from $24.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Oppenheimer boosted their target price on Consensus Cloud Solutions from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. lowered shares of Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and raised their price target for the company from $19.00 to $21.00 in a report on Monday, September 9th. Finally, BTIG Research increased their price objective on shares of Consensus Cloud Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $26.20.

Consensus Cloud Solutions Trading Down 7.3 %

Shares of CCSI opened at $23.39 on Wednesday. The firm has a market cap of $451.43 million, a price-to-earnings ratio of 5.12 and a beta of 1.38. Consensus Cloud Solutions has a 52 week low of $11.62 and a 52 week high of $28.09. The stock has a 50 day moving average of $22.74 and a 200-day moving average of $20.56.

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.