Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Sees Significant Increase in Short Interest

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 496,700 shares, an increase of 6.0% from the January 15th total of 468,800 shares. Approximately 2.7% of the shares of the stock are short sold. Based on an average daily volume of 109,700 shares, the short-interest ratio is presently 4.5 days.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CCSI shares. Oppenheimer boosted their target price on Consensus Cloud Solutions from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Wedbush boosted their target price on Consensus Cloud Solutions from $24.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Citigroup upped their price objective on Consensus Cloud Solutions from $19.00 to $20.00 and gave the company a “sell” rating in a report on Friday, January 17th. Finally, BTIG Research upped their price objective on Consensus Cloud Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.40.

Consensus Cloud Solutions Stock Up 1.1 %

NASDAQ:CCSI traded up $0.33 during trading hours on Tuesday, reaching $29.14. 132,848 shares of the stock were exchanged, compared to its average volume of 103,031. The business has a 50-day moving average of $25.70 and a two-hundred day moving average of $23.73. Consensus Cloud Solutions has a twelve month low of $11.62 and a twelve month high of $32.10. The company has a market capitalization of $562.40 million, a price-to-earnings ratio of 6.38 and a beta of 1.45.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in Consensus Cloud Solutions during the third quarter worth $29,000. GAMMA Investing LLC lifted its stake in Consensus Cloud Solutions by 74.9% during the fourth quarter. GAMMA Investing LLC now owns 1,525 shares of the company’s stock worth $36,000 after purchasing an additional 653 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Consensus Cloud Solutions during the fourth quarter worth $42,000. AlphaQuest LLC increased its position in shares of Consensus Cloud Solutions by 451.5% during the fourth quarter. AlphaQuest LLC now owns 2,173 shares of the company’s stock worth $52,000 after acquiring an additional 1,779 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of Consensus Cloud Solutions during the fourth quarter worth $81,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.