Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Short Interest Update

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 666,700 shares, a growth of 25.9% from the May 31st total of 529,400 shares. Currently, 3.8% of the shares of the company are short sold. Based on an average daily volume of 246,100 shares, the short-interest ratio is currently 2.7 days.

Institutional Trading of Consensus Cloud Solutions

Institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC boosted its stake in Consensus Cloud Solutions by 1.0% during the first quarter. Janus Henderson Group PLC now owns 1,587,963 shares of the company’s stock worth $25,185,000 after buying an additional 15,871 shares in the last quarter. Kent Lake Capital LLC bought a new position in shares of Consensus Cloud Solutions during the 1st quarter worth about $2,312,000. Paloma Partners Management Co acquired a new stake in shares of Consensus Cloud Solutions during the 1st quarter valued at about $262,000. Price T Rowe Associates Inc. MD increased its stake in 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 acquiring an additional 4,100 shares during the period. Finally, Heron Bay Capital Management raised its position in Consensus Cloud Solutions by 63.7% in the first quarter. Heron Bay Capital Management now owns 1,100,425 shares of the company’s stock worth $17,453,000 after purchasing an additional 428,232 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Consensus Cloud Solutions Stock Performance

NASDAQ:CCSI opened at $16.55 on Tuesday. The firm’s 50-day moving average is $16.98 and its 200-day moving average is $17.92. The company has a market cap of $318.09 million, a price-to-earnings ratio of 3.65 and a beta of 1.34. Consensus Cloud Solutions has a 52-week low of $11.62 and a 52-week high of $35.29.

Consensus Cloud Solutions (NASDAQ:CCSI) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.30. The firm had revenue of $88.15 million for the quarter, compared to analyst estimates of $87.29 million. Consensus Cloud Solutions had a negative return on equity of 49.60% and a net margin of 24.55%. Equities analysts predict that Consensus Cloud Solutions will post 4.51 EPS for the current year.

Analyst Ratings Changes

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

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.