Consensus Cloud Solutions, Inc. (NASDAQ:CCSI – Get Free Report) 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 – Get Free Report) 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
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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.
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