Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Short Interest Down 7.6% in October

Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 517,300 shares, a decrease of 7.6% from the October 15th total of 559,900 shares. Approximately 2.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 126,500 shares, the days-to-cover ratio is currently 4.1 days.

Consensus Cloud Solutions Stock Performance

NASDAQ CCSI opened at $25.30 on Monday. The business has a fifty day moving average price of $22.63 and a 200 day moving average price of $20.39. Consensus Cloud Solutions has a one year low of $11.62 and a one year high of $28.09. The company has a market cap of $488.29 million, a P/E ratio of 5.54 and a beta of 1.38.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its holdings in Consensus Cloud Solutions by 26.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,380,874 shares of the company’s stock valued at $56,070,000 after buying an additional 498,010 shares in the last quarter. Heron Bay Capital Management grew its position in Consensus Cloud Solutions by 63.7% in the 1st quarter. Heron Bay Capital Management now owns 1,100,425 shares of the company’s stock valued at $17,453,000 after acquiring an additional 428,232 shares in the last quarter. Marshall Wace LLP grew its position in Consensus Cloud Solutions by 437.2% in the 2nd quarter. Marshall Wace LLP now owns 682,669 shares of the company’s stock valued at $11,728,000 after acquiring an additional 555,584 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Consensus Cloud Solutions by 115.4% in the 2nd quarter. AQR Capital Management LLC now owns 672,803 shares of the company’s stock valued at $11,041,000 after buying an additional 360,476 shares during the period. Finally, State Street Corp boosted its stake in shares of Consensus Cloud Solutions by 15.1% in the 3rd quarter. State Street Corp now owns 450,415 shares of the company’s stock valued at $10,607,000 after buying an additional 59,219 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CCSI shares. Oppenheimer upped their target price on Consensus Cloud Solutions from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Wedbush upped their target price on Consensus Cloud Solutions from $24.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. BTIG Research upped their target price on Consensus Cloud Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. downgraded Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and upped their target price for the stock from $19.00 to $21.00 in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.40.

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.