Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Short Interest Down 18.9% in November

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 419,600 shares, a decline of 18.9% from the October 31st total of 517,300 shares. Based on an average daily volume of 120,400 shares, the short-interest ratio is currently 3.5 days. Approximately 2.2% of the company’s stock are sold short.

Consensus Cloud Solutions Price Performance

Shares of CCSI stock traded down $0.55 during trading hours on Friday, hitting $24.95. The stock had a trading volume of 90,333 shares, compared to its average volume of 131,438. The firm has a market capitalization of $481.54 million, a PE ratio of 5.46 and a beta of 1.38. The stock’s 50 day moving average is $23.08 and its 200 day moving average is $21.01. Consensus Cloud Solutions has a twelve month low of $11.62 and a twelve month high of $28.09.

Analysts Set New Price Targets

Several equities analysts recently commented on CCSI shares. Citigroup increased their target price on Consensus Cloud Solutions from $17.00 to $19.00 and gave the company a “sell” rating in a report on Tuesday, November 19th. BTIG Research boosted their target price 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. JPMorgan Chase & Co. downgraded Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and upped their price target for the company from $19.00 to $21.00 in a report on Monday, September 9th. Oppenheimer raised their price objective on shares of Consensus Cloud Solutions from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Wedbush upped their target price on shares of Consensus Cloud Solutions from $24.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.20.

Institutional Trading of Consensus Cloud Solutions

A number of large investors have recently bought and sold shares of CCSI. Price T Rowe Associates Inc. MD raised its holdings in shares of Consensus Cloud Solutions by 15.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,994 shares of the company’s stock valued at $492,000 after buying an additional 4,100 shares during the last quarter. CWM LLC lifted its position in Consensus Cloud Solutions by 388.4% during the 2nd quarter. CWM LLC now owns 8,792 shares of the company’s stock worth $151,000 after acquiring an additional 6,992 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of Consensus Cloud Solutions by 3.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 22,426 shares of the company’s stock valued at $385,000 after purchasing an additional 769 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Consensus Cloud Solutions by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 98,013 shares of the company’s stock valued at $1,684,000 after purchasing an additional 3,144 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Consensus Cloud Solutions by 4.8% during the second quarter. Rhumbline Advisers now owns 30,358 shares of the company’s stock worth $522,000 after purchasing an additional 1,379 shares during the last quarter. Institutional investors and hedge funds 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.