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

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 447,300 shares, a growth of 8.9% from the November 30th total of 410,900 shares. Based on an average daily volume of 114,900 shares, the short-interest ratio is currently 3.9 days. Approximately 2.4% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CCSI shares. Wedbush upped their price objective on shares of Consensus Cloud Solutions from $24.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Oppenheimer increased their price target on Consensus Cloud Solutions from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Citigroup boosted their price objective on Consensus Cloud Solutions from $17.00 to $19.00 and gave the stock a “sell” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. lowered Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and raised their target price for the company from $19.00 to $21.00 in a research report on Monday, September 9th. Finally, BTIG Research increased their price target on shares of Consensus Cloud Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $26.20.

Consensus Cloud Solutions Stock Performance

NASDAQ CCSI traded up $0.13 during trading hours on Wednesday, hitting $23.86. The company had a trading volume of 94,929 shares, compared to its average volume of 219,263. The firm has a market capitalization of $460.59 million, a price-to-earnings ratio of 5.22 and a beta of 1.42. Consensus Cloud Solutions has a 52 week low of $11.62 and a 52 week high of $27.79. The firm has a 50 day simple moving average of $24.17 and a 200 day simple moving average of $21.80.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CCSI. Capital Performance Advisors LLP bought a new stake in Consensus Cloud Solutions during the third quarter valued at approximately $29,000. National Bank of Canada FI purchased a new position in Consensus Cloud Solutions in the second quarter worth $33,000. SG Americas Securities LLC bought a new position in Consensus Cloud Solutions in the third quarter valued at $148,000. DGS Capital Management LLC purchased a new stake in Consensus Cloud Solutions during the third quarter valued at about $209,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Consensus Cloud Solutions during the third quarter worth about $242,000. 93.93% of the stock is owned by institutional investors.

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.