CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Trading Down 4.6% – Here’s What Happened

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) shares dropped 4.6% during mid-day trading on Wednesday . The stock traded as low as $4.30 and last traded at $4.40. Approximately 759,942 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 12,433,699 shares. The stock had previously closed at $4.61.

Analysts Set New Price Targets

A number of research firms have weighed in on CCC. Citigroup cut shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $10.00 to $6.00 in a research report on Friday, April 10th. Barrington Research restated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Friday, April 24th. Weiss Ratings upgraded shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Wall Street Zen upgraded shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Jefferies Financial Group restated a “buy” rating and set a $8.00 price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $9.33.

CCC Intelligent Solutions Holdings Inc. Common Stock Trading Down 1.3%

The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 75.85 and a beta of 0.57.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) last issued its earnings results on Thursday, April 30th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. The business had revenue of $281.27 million during the quarter. CCC Intelligent Solutions Holdings Inc. Common Stock had a net margin of 3.18% and a return on equity of 6.08%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. Equities analysts predict that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On CCC Intelligent Solutions Holdings Inc. Common Stock

A number of hedge funds have recently modified their holdings of CCC. Wasatch Advisors LP raised its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 23.9% in the first quarter. Wasatch Advisors LP now owns 28,231,760 shares of the company’s stock valued at $169,391,000 after buying an additional 5,440,768 shares during the last quarter. London Co. of Virginia raised its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 52.5% in the first quarter. London Co. of Virginia now owns 8,741,590 shares of the company’s stock valued at $52,450,000 after buying an additional 3,007,687 shares during the last quarter. Alfreton Capital LLP raised its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 22.5% in the first quarter. Alfreton Capital LLP now owns 10,778,074 shares of the company’s stock valued at $64,668,000 after buying an additional 1,978,074 shares during the last quarter. Van Berkom & Associates Inc. raised its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 15.5% in the first quarter. Van Berkom & Associates Inc. now owns 13,515,096 shares of the company’s stock valued at $81,091,000 after buying an additional 1,814,248 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 833.6% in the first quarter. Hsbc Holdings PLC now owns 2,030,121 shares of the company’s stock valued at $12,181,000 after buying an additional 1,812,674 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

About CCC Intelligent Solutions Holdings Inc. Common Stock

CCC Intelligent Solutions Holdings Inc is a provider of cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. The company’s SaaS platform connects trading partners, facilitates commerce, and supports mission-critical, AI-enabled digital workflows. It operates in a single segment being Domestic segment, which provides SAAS platform for the P&C insurance economy and derives revenues from providing customers with software subscriptions to the platform in addition to providing professional services and non-software services.