Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Short Interest Up 8.9% in December

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 447,300 shares, a growth of 8.9% from the November 30th total of 410,900 shares. Currently, 2.4% of the shares of the company 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 Investors Weigh In On Consensus Cloud Solutions

Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in Consensus Cloud Solutions by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 98,013 shares of the company’s stock valued at $1,684,000 after acquiring an additional 3,144 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Consensus Cloud Solutions by 4.8% in the second quarter. Rhumbline Advisers now owns 30,358 shares of the company’s stock valued at $522,000 after purchasing an additional 1,379 shares in the last quarter. National Bank of Canada FI bought a new position in Consensus Cloud Solutions in the second quarter worth $33,000. Los Angeles Capital Management LLC acquired a new stake in Consensus Cloud Solutions during the second quarter worth $1,205,000. Finally, Chicago Capital LLC boosted its stake in Consensus Cloud Solutions by 4.5% during the second quarter. Chicago Capital LLC now owns 112,537 shares of the company’s stock worth $1,933,000 after buying an additional 4,824 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Consensus Cloud Solutions Stock Up 0.5 %

NASDAQ CCSI traded up $0.13 during midday trading on Tuesday, hitting $23.86. The company had a trading volume of 94,929 shares, compared to its average volume of 219,263. The firm has a fifty day simple moving average of $24.10 and a two-hundred day simple moving average of $21.78. Consensus Cloud Solutions has a fifty-two week low of $11.62 and a fifty-two week high of $27.79. The stock has a market cap of $460.59 million, a price-to-earnings ratio of 5.22 and a beta of 1.42.

Analysts Set New Price Targets

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

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.