Short Interest in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Grows By 15.4%

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) was the recipient of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 576,900 shares, an increase of 15.4% from the July 31st total of 500,100 shares. Approximately 3.3% of the company’s shares are short sold. Based on an average daily volume of 181,200 shares, the days-to-cover ratio is currently 3.2 days.

Consensus Cloud Solutions Price Performance

Shares of Consensus Cloud Solutions stock traded up $0.02 during trading on Monday, hitting $24.09. 108,000 shares of the company were exchanged, compared to its average volume of 270,875. The firm has a market capitalization of $463.01 million, a P/E ratio of 5.32 and a beta of 1.35. The firm’s fifty day moving average price is $19.74 and its 200 day moving average price is $17.26. Consensus Cloud Solutions has a 1-year low of $11.62 and a 1-year high of $33.39.

Consensus Cloud Solutions (NASDAQ:CCSI) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.15. Consensus Cloud Solutions had a net margin of 25.72% and a negative return on equity of 57.77%. The firm had revenue of $87.50 million during the quarter, compared to analysts’ expectations of $87.10 million. As a group, equities research analysts anticipate that Consensus Cloud Solutions will post 4.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CCSI shares. Wedbush reaffirmed 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 increased their price objective on shares of Consensus Cloud Solutions from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, BTIG Research raised 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 report on Wednesday, August 21st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in shares of Consensus Cloud Solutions by 132.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,691 shares of the company’s stock worth $44,000 after purchasing an additional 962 shares during the period. National Bank of Canada FI acquired a new stake in Consensus Cloud Solutions during the 2nd quarter worth approximately $33,000. CWM LLC lifted its stake in Consensus Cloud Solutions by 388.4% in the second quarter. CWM LLC now owns 8,792 shares of the company’s stock valued at $151,000 after buying an additional 6,992 shares in the last quarter. Aristides Capital LLC acquired a new position in shares of Consensus Cloud Solutions in the fourth quarter valued at approximately $252,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Consensus Cloud Solutions in the second quarter valued at approximately $188,000. 93.93% of the stock is currently owned by institutional investors.

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.