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

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) was the recipient of a significant 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. Based on an average trading volume of 126,500 shares, the short-interest ratio is currently 4.1 days. Approximately 2.9% of the shares of the stock are sold short.

Analysts Set New Price Targets

CCSI has been the topic of a number of research analyst reports. Oppenheimer boosted their target price on Consensus Cloud Solutions from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Wedbush upped their price objective on Consensus Cloud Solutions from $24.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. downgraded Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $19.00 to $21.00 in a research report on Monday, September 9th. Finally, BTIG Research upped their price target on Consensus Cloud Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. According to data from MarketBeat, Consensus Cloud Solutions presently has a consensus rating of “Hold” and an average target price of $26.40.

Institutional Trading of Consensus Cloud Solutions

Several large investors have recently added to or reduced their stakes in CCSI. Capital Performance Advisors LLP acquired a new stake in Consensus Cloud Solutions in the 3rd quarter valued at approximately $29,000. National Bank of Canada FI acquired a new position in shares of Consensus Cloud Solutions during the 2nd quarter valued at $33,000. SG Americas Securities LLC acquired a new position in shares of Consensus Cloud Solutions during the 3rd quarter valued at $148,000. CWM LLC increased its position in shares of Consensus Cloud Solutions by 388.4% during the 2nd quarter. CWM LLC now owns 8,792 shares of the company’s stock valued at $151,000 after purchasing an additional 6,992 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Consensus Cloud Solutions during the 2nd quarter valued at $188,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Consensus Cloud Solutions Trading Up 1.0 %

Shares of NASDAQ CCSI opened at $25.30 on Monday. The company has a market cap of $488.29 million, a price-to-earnings ratio of 5.54 and a beta of 1.38. Consensus Cloud Solutions has a 12-month low of $11.62 and a 12-month high of $28.09. The stock’s 50 day simple moving average is $22.63 and its 200 day simple moving average is $20.39.

Consensus Cloud Solutions Company Profile

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.