Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Short Interest Down 11.0% in September

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI - Get Free Report) was the target of a large decline in short interest in 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. Approximately 3.2% of the company's stock are short sold. Based on an average daily volume of 140,300 shares, the days-to-cover ratio is currently 4.0 days.

Consensus Cloud Solutions Stock Up 0.9 %

CCSI traded up $0.19 during trading on Tuesday, hitting $21.48. 107,049 shares of the company traded hands, compared to its average volume of 246,211. The firm has a market cap of $412.85 million, a P/E ratio of 4.77 and a beta of 1.37. The stock's fifty day moving average is $21.94 and its 200 day moving average is $18.77. Consensus Cloud Solutions has a one year low of $11.62 and a one year high of $28.09.

Consensus Cloud Solutions (NASDAQ:CCSI - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.15. The company had revenue of $87.50 million during the quarter, compared to analyst estimates 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, equities research analysts forecast that Consensus Cloud Solutions will post 4.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on CCSI. JPMorgan Chase & Co. lowered shares of Consensus Cloud Solutions from a "neutral" rating to an "underweight" rating and upped their target price for the stock 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 target price for the company in a research note on Wednesday, August 21st. Finally, Oppenheimer upped their target price on shares of Consensus Cloud Solutions from $20.00 to $23.00 and gave the stock an "outperform" rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $23.60.

Hedge Funds Weigh In On Consensus Cloud Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP boosted its position in Consensus Cloud Solutions by 323.3% during the first quarter. GSA Capital Partners LLP now owns 60,564 shares of the company's stock worth $961,000 after purchasing an additional 46,255 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Consensus Cloud Solutions by 3,943.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 114,549 shares of the company's stock worth $1,817,000 after purchasing an additional 111,716 shares during the period. AQR Capital Management LLC boosted its position in Consensus Cloud Solutions by 115.4% during the second quarter. AQR Capital Management LLC now owns 672,803 shares of the company's stock worth $11,041,000 after purchasing an additional 360,476 shares during the period. Denali Advisors LLC bought a new position in Consensus Cloud Solutions during the second quarter worth about $1,051,000. Finally, Marshall Wace LLP boosted its position in shares of Consensus Cloud Solutions by 437.2% in the second quarter. Marshall Wace LLP now owns 682,669 shares of the company's stock valued at $11,728,000 after acquiring an additional 555,584 shares during the period. Institutional investors own 93.93% of the company's stock.

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.

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