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

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) was the recipient of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 622,300 shares, a drop of 6.7% from the June 15th total of 666,700 shares. Based on an average daily volume of 231,800 shares, the days-to-cover ratio is currently 2.7 days. Approximately 3.5% of the shares of the company are short sold.

Consensus Cloud Solutions Stock Performance

CCSI stock traded up $0.11 during trading on Wednesday, hitting $19.69. The stock had a trading volume of 168,950 shares, compared to its average volume of 298,090. The stock has a market cap of $378.44 million, a price-to-earnings ratio of 4.32 and a beta of 1.34. The company’s 50 day moving average price is $18.08 and its two-hundred day moving average price is $17.13. Consensus Cloud Solutions has a 1-year low of $11.62 and a 1-year high of $35.29.

Consensus Cloud Solutions (NASDAQ:CCSI) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.30. The business had revenue of $88.15 million during the quarter, compared to the consensus estimate of $87.29 million. Consensus Cloud Solutions had a negative return on equity of 49.60% and a net margin of 24.55%. As a group, sell-side analysts forecast that Consensus Cloud Solutions will post 4.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CCSI. Oppenheimer decreased their price target on Consensus Cloud Solutions from $29.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Wedbush reiterated an “outperform” rating and issued a $24.00 price objective on shares of Consensus Cloud Solutions in a research report on Friday, May 10th.

Hedge Funds Weigh In On Consensus Cloud Solutions

A number of large investors have recently modified their holdings of the company. CWM LLC grew its stake in Consensus Cloud Solutions by 388.4% during the second quarter. CWM LLC now owns 8,792 shares of the company’s stock worth $151,000 after buying an additional 6,992 shares during the period. Janus Henderson Group PLC increased its holdings in Consensus Cloud Solutions by 1.0% in the 1st quarter. Janus Henderson Group PLC now owns 1,587,963 shares of the company’s stock valued at $25,185,000 after purchasing an additional 15,871 shares in the last quarter. Kent Lake Capital LLC purchased a new position in Consensus Cloud Solutions in the first quarter valued at about $2,312,000. Paloma Partners Management Co acquired a new position in shares of Consensus Cloud Solutions during the first quarter worth about $262,000. Finally, Price T Rowe Associates Inc. MD boosted its position 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 worth $492,000 after buying an additional 4,100 shares during the period. 93.93% of the stock is currently owned by hedge funds and other 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.