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

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) was the target of a large increase in short interest in the month of April. As of April 30th, there was short interest totalling 676,300 shares, an increase of 10.4% from the April 15th total of 612,700 shares. Based on an average daily trading volume, of 403,300 shares, the days-to-cover ratio is currently 1.7 days. Currently, 3.8% of the company’s stock are sold short.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Amalgamated Bank lifted its stake in Consensus Cloud Solutions by 9.1% during the third quarter. Amalgamated Bank now owns 8,224 shares of the company’s stock worth $207,000 after purchasing an additional 684 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Consensus Cloud Solutions by 7.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,888 shares of the company’s stock valued at $249,000 after buying an additional 706 shares during the last quarter. Bridge City Capital LLC raised its stake in Consensus Cloud Solutions by 2.1% during the third quarter. Bridge City Capital LLC now owns 47,223 shares of the company’s stock worth $1,189,000 after acquiring an additional 961 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Consensus Cloud Solutions by 132.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,691 shares of the company’s stock worth $44,000 after acquiring an additional 962 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Consensus Cloud Solutions by 5.1% in the third quarter. Deutsche Bank AG now owns 38,065 shares of the company’s stock valued at $958,000 after acquiring an additional 1,843 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CCSI shares. Wedbush restated an “outperform” rating and issued a $24.00 target price on shares of Consensus Cloud Solutions in a research note on Friday, May 10th. Oppenheimer lowered their target price on Consensus Cloud Solutions from $29.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Finally, BTIG Research started coverage on Consensus Cloud Solutions in a research note on Friday, January 26th. They issued a “neutral” rating on the stock.

Consensus Cloud Solutions Trading Down 1.7 %

NASDAQ CCSI traded down $0.33 during trading hours on Thursday, reaching $19.02. 199,468 shares of the company traded hands, compared to its average volume of 342,824. The stock has a market capitalization of $365.56 million, a PE ratio of 4.20 and a beta of 1.07. Consensus Cloud Solutions has a 12 month low of $11.62 and a 12 month high of $37.24. The company has a 50 day moving average of $14.14 and a two-hundred day moving average of $18.84.

Consensus Cloud Solutions (NASDAQ:CCSI) last issued its earnings results on Wednesday, February 21st. The company reported $0.90 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.90. The business had revenue of $87.75 million for the quarter, compared to analyst estimates of $89.05 million. Consensus Cloud Solutions had a net margin of 24.55% and a negative return on equity of 49.60%. On average, equities research analysts anticipate that Consensus Cloud Solutions will post 4.33 earnings per share for the current year.

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.