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

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

Consensus Cloud Solutions Trading Up 0.5 %

NASDAQ CCSI traded up $0.13 during trading hours on Wednesday, hitting $23.86. 94,929 shares of the company’s stock were exchanged, compared to its average volume of 219,263. The firm has a market cap of $460.59 million, a price-to-earnings ratio of 5.22 and a beta of 1.42. The stock has a 50-day simple moving average of $24.17 and a 200 day simple moving average of $21.80. Consensus Cloud Solutions has a 1-year low of $11.62 and a 1-year high of $27.79.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CCSI. Capital Performance Advisors LLP bought a new position in Consensus Cloud Solutions in the third quarter worth approximately $29,000. National Bank of Canada FI acquired a new position in shares of Consensus Cloud Solutions during the second quarter worth approximately $33,000. SG Americas Securities LLC bought a new position in shares of Consensus Cloud Solutions in the 3rd quarter worth $148,000. Massachusetts Financial Services Co. MA acquired a new stake in Consensus Cloud Solutions in the 2nd quarter valued at $188,000. Finally, DGS Capital Management LLC bought a new stake in Consensus Cloud Solutions during the 3rd quarter valued at $209,000. Institutional investors and hedge funds 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.