Short Interest in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Decreases By 7.5%

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 611,500 shares, a decline of 7.5% from the October 15th total of 661,100 shares. Based on an average daily volume of 114,700 shares, the days-to-cover ratio is currently 5.3 days. Currently, 3.4% of the shares of the stock are sold short.

Consensus Cloud Solutions Stock Performance

Shares of CCSI stock traded up $0.72 on Friday, hitting $22.34. 120,153 shares of the stock traded hands, compared to its average volume of 134,577. The firm’s 50-day moving average price is $23.65 and its two-hundred day moving average price is $29.60. The stock has a market capitalization of $427.81 million, a PE ratio of 5.76 and a beta of 1.19. Consensus Cloud Solutions has a twelve month low of $20.06 and a twelve month high of $62.93.

Consensus Cloud Solutions (NASDAQ:CCSI) last posted its earnings results on Thursday, November 9th. The company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.23. Consensus Cloud Solutions had a net margin of 21.02% and a negative return on equity of 36.23%. The company had revenue of $90.56 million for the quarter, compared to analysts’ expectations of $95.74 million. On average, equities research analysts anticipate that Consensus Cloud Solutions will post 4.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Oppenheimer lowered their target price on shares of Consensus Cloud Solutions from $50.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 9th. Citigroup lowered their target price on shares of Consensus Cloud Solutions from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 29th. Finally, Wedbush lowered their target price on shares of Consensus Cloud Solutions from $42.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, November 10th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CCSI. BlackRock Inc. purchased a new stake in Consensus Cloud Solutions during the first quarter worth about $152,334,000. Vanguard Group Inc. purchased a new stake in Consensus Cloud Solutions during the first quarter worth about $104,765,000. Gates Capital Management Inc. increased its stake in Consensus Cloud Solutions by 71.4% during the first quarter. Gates Capital Management Inc. now owns 1,846,641 shares of the company’s stock worth $62,952,000 after purchasing an additional 769,354 shares during the period. State Street Corp purchased a new stake in Consensus Cloud Solutions during the first quarter worth about $38,562,000. Finally, Invesco Ltd. purchased a new stake in Consensus Cloud Solutions during the first quarter worth about $28,250,000. 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. It 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; jsign, an electronic and digital signature solution; Conductor, an interface engine and interoperability platform that provides integration technology; Clarity that transforms unstructured documents into structured actionable data; and eFax, an online faxing solution, as well as other products under the MyFax, MetroFax, Sfax, and SRfax brands.