Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Short Interest Down 18.9% in November

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 419,600 shares, a drop of 18.9% from the October 31st total of 517,300 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily volume of 120,400 shares, the days-to-cover ratio is presently 3.5 days.

Wall Street Analyst Weigh In

A number of research firms recently commented on CCSI. BTIG Research boosted their price objective on shares of Consensus Cloud Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. downgraded Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and raised their price objective for the company from $19.00 to $21.00 in a research note on Monday, September 9th. Oppenheimer boosted their target price on Consensus Cloud Solutions from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Wedbush raised their price target on Consensus Cloud Solutions from $24.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Citigroup lifted their price target on Consensus Cloud Solutions from $17.00 to $19.00 and gave the stock a “sell” rating in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $26.20.

Institutional Trading of Consensus Cloud Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP boosted its stake in shares of Consensus Cloud Solutions by 437.2% during the 2nd quarter. Marshall Wace LLP now owns 682,669 shares of the company’s stock worth $11,728,000 after purchasing an additional 555,584 shares during the last quarter. Janus Henderson Group PLC boosted its position in Consensus Cloud Solutions by 26.4% during the third quarter. Janus Henderson Group PLC now owns 2,380,874 shares of the company’s stock worth $56,070,000 after acquiring an additional 498,010 shares during the last quarter. AQR Capital Management LLC boosted its position in Consensus Cloud Solutions by 115.4% during the second quarter. AQR Capital Management LLC now owns 672,803 shares of the company’s stock worth $11,041,000 after acquiring an additional 360,476 shares during the last quarter. Renaissance Technologies LLC grew its stake in Consensus Cloud Solutions by 165.1% in the 2nd quarter. Renaissance Technologies LLC now owns 116,900 shares of the company’s stock worth $2,008,000 after acquiring an additional 72,800 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in Consensus Cloud Solutions in the 2nd quarter valued at $1,205,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Consensus Cloud Solutions Price Performance

Consensus Cloud Solutions stock traded down $0.55 during mid-day trading on Friday, hitting $24.95. 90,333 shares of the company were exchanged, compared to its average volume of 131,438. Consensus Cloud Solutions has a 12-month low of $11.62 and a 12-month high of $28.09. The company has a market capitalization of $481.54 million, a P/E ratio of 5.46 and a beta of 1.38. The business’s 50 day simple moving average is $23.08 and its two-hundred day simple moving average is $21.01.

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.