Short Interest in Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Declines By 7.8%

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 500,100 shares, a decline of 7.8% from the July 15th total of 542,400 shares. Approximately 2.8% of the shares of the company are short sold. Based on an average daily volume of 211,500 shares, the days-to-cover ratio is presently 2.4 days.

Consensus Cloud Solutions Stock Performance

NASDAQ:CCSI opened at $20.34 on Wednesday. The stock has a market cap of $390.93 million, a price-to-earnings ratio of 4.49 and a beta of 1.35. Consensus Cloud Solutions has a 1 year low of $11.62 and a 1 year high of $33.39. The business has a fifty day moving average of $18.71 and a 200-day moving average of $17.06.

Hedge Funds Weigh In On Consensus Cloud Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI acquired a new stake in shares of Consensus Cloud Solutions in the 2nd quarter worth approximately $33,000. PNC Financial Services Group Inc. raised its holdings in 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 in the last quarter. CWM LLC boosted its stake in Consensus Cloud Solutions by 388.4% during the 2nd quarter. CWM LLC now owns 8,792 shares of the company’s stock valued at $151,000 after purchasing an additional 6,992 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Consensus Cloud Solutions during the 2nd quarter valued at $188,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Consensus Cloud Solutions by 20.0% in the first quarter. Meeder Asset Management Inc. now owns 14,480 shares of the company’s stock valued at $230,000 after buying an additional 2,414 shares during the period. Institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

CCSI has been the subject of several analyst reports. Oppenheimer boosted their price target 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. Wedbush restated an “outperform” rating and issued a $24.00 target price on shares of Consensus Cloud Solutions in a research report on Friday, May 10th.

About Consensus Cloud Solutions

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.