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

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totalling 447,300 shares, an increase of 8.9% from the November 30th total of 410,900 shares. Approximately 2.4% of the company’s stock are sold short. Based on an average daily trading volume, of 114,900 shares, the days-to-cover ratio is currently 3.9 days.

Institutional Trading of Consensus Cloud Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in Consensus Cloud Solutions by 223.1% in the third quarter. JPMorgan Chase & Co. now owns 197,456 shares of the company’s stock valued at $4,650,000 after purchasing an additional 136,349 shares in the last quarter. DGS Capital Management LLC acquired a new stake in shares of Consensus Cloud Solutions in the 3rd quarter valued at approximately $209,000. Barclays PLC grew its stake in shares of Consensus Cloud Solutions by 275.8% in the third quarter. Barclays PLC now owns 23,618 shares of the company’s stock valued at $556,000 after buying an additional 17,333 shares in the last quarter. Geode Capital Management LLC increased its holdings in Consensus Cloud Solutions by 1.3% during the third quarter. Geode Capital Management LLC now owns 421,123 shares of the company’s stock worth $9,920,000 after buying an additional 5,299 shares during the last quarter. Finally, Virtus Fund Advisers LLC bought a new stake in Consensus Cloud Solutions during the third quarter worth $327,000. Institutional investors own 93.93% of the company’s stock.

Consensus Cloud Solutions Price Performance

Shares of NASDAQ:CCSI opened at $23.86 on Thursday. The stock has a market capitalization of $460.59 million, a PE ratio of 5.22 and a beta of 1.42. The company’s 50-day moving average price is $24.17 and its two-hundred day moving average price is $21.80. Consensus Cloud Solutions has a one year low of $11.62 and a one year high of $27.79.

Wall Street Analyst Weigh In

CCSI has been the subject of several research reports. Oppenheimer increased their price objective on shares of Consensus Cloud Solutions from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. cut Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $19.00 to $21.00 in a report on Monday, September 9th. Citigroup boosted their price target on Consensus Cloud Solutions from $17.00 to $19.00 and gave the company a “sell” rating in a report on Tuesday, November 19th. Wedbush increased their price objective on Consensus Cloud Solutions from $24.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, BTIG Research lifted their target price on Consensus Cloud Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating and three have given a buy rating to the company. According to data from MarketBeat.com, Consensus Cloud Solutions has an average rating of “Hold” and a consensus price target of $26.20.

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.