Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Short Interest Down 19.8% in May

Consensus Cloud Solutions, Inc. (NASDAQ:CCSIGet Free Report) was the recipient of a significant decline in short interest in May. As of May 31st, there was short interest totalling 529,400 shares, a decline of 19.8% from the May 15th total of 660,300 shares. Approximately 3.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 357,000 shares, the days-to-cover ratio is presently 1.5 days.

Hedge Funds Weigh In On Consensus Cloud Solutions

Institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC increased its stake in Consensus Cloud Solutions by 1.0% in the first quarter. Janus Henderson Group PLC now owns 1,587,963 shares of the company’s stock valued at $25,185,000 after purchasing an additional 15,871 shares during the last quarter. Kent Lake Capital LLC acquired a new position in Consensus Cloud Solutions in the first quarter valued at $2,312,000. Paloma Partners Management Co acquired a new position in Consensus Cloud Solutions in the first quarter valued at $262,000. Price T Rowe Associates Inc. MD increased its stake in Consensus Cloud Solutions by 15.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,994 shares of the company’s stock valued at $492,000 after purchasing an additional 4,100 shares during the last quarter. Finally, Heron Bay Capital Management increased its stake in Consensus Cloud Solutions by 63.7% in the first quarter. Heron Bay Capital Management now owns 1,100,425 shares of the company’s stock valued at $17,453,000 after purchasing an additional 428,232 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CCSI shares. Oppenheimer decreased their price target on Consensus Cloud Solutions from $29.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Wedbush reiterated an “outperform” rating and set a $24.00 target price on shares of Consensus Cloud Solutions in a research report on Friday, May 10th.

Check Out Our Latest Stock Report on CCSI

Consensus Cloud Solutions Trading Down 2.5 %

Shares of NASDAQ CCSI traded down $0.45 during trading on Friday, reaching $17.53. The company had a trading volume of 243,968 shares, compared to its average volume of 207,357. Consensus Cloud Solutions has a twelve month low of $11.62 and a twelve month high of $35.29. The stock has a market capitalization of $336.93 million, a PE ratio of 3.87 and a beta of 1.38. The stock has a 50-day moving average price of $16.31 and a two-hundred day moving average price of $18.42.

Consensus Cloud Solutions (NASDAQ:CCSIGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.30. Consensus Cloud Solutions had a negative return on equity of 49.60% and a net margin of 24.55%. The company had revenue of $88.15 million during the quarter, compared to analysts’ expectations of $87.29 million. On average, sell-side analysts predict that Consensus Cloud Solutions will post 4.51 EPS for the current year.

About Consensus Cloud Solutions

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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.

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