CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Downgraded by Evercore to “Hold”

Evercore downgraded shares of CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday,Zacks reports.

A number of other analysts have also weighed in on CCC. Truist Financial set a $7.75 target price on CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Friday, October 16th. William Blair cut CCC Intelligent Solutions Holdings Inc. Common Stock from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 15th. Citigroup upped their price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock from $6.00 to $6.50 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. CJS Securities lowered shares of CCC Intelligent Solutions Holdings Inc. Common Stock to a “market perform” rating in a report on Friday, October 16th. Finally, Weiss Ratings upgraded shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.79.

CCC Intelligent Solutions Holdings Inc. Common Stock Price Performance

NASDAQ CCC opened at $7.68 on Tuesday. The firm has a market cap of $4.54 billion, a PE ratio of 59.08 and a beta of 0.38. CCC Intelligent Solutions Holdings Inc. Common Stock has a one year low of $4.08 and a one year high of $8.68. The stock’s 50 day simple moving average is $7.14 and its 200 day simple moving average is $6.04. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 2.05.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.07. The firm had revenue of $294.09 million during the quarter. CCC Intelligent Solutions Holdings Inc. Common Stock had a return on equity of 9.11% and a net margin of 6.54%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, sell-side analysts forecast that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC grew its holdings in CCC Intelligent Solutions Holdings Inc. Common Stock by 46.1% during the 3rd quarter. Parallel Advisors LLC now owns 6,038 shares of the company’s stock worth $40,000 after acquiring an additional 1,904 shares during the period. Platform Technology Partners raised its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 18.2% during the 3rd quarter. Platform Technology Partners now owns 14,180 shares of the company’s stock valued at $94,000 after acquiring an additional 2,182 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 5.1% in the 3rd quarter. Central Pacific Bank Trust Division now owns 47,800 shares of the company’s stock valued at $318,000 after purchasing an additional 2,320 shares during the period. Wedmont Private Capital lifted its stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 22.9% in the 2nd quarter. Wedmont Private Capital now owns 13,796 shares of the company’s stock valued at $71,000 after purchasing an additional 2,568 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 18.8% in the 1st quarter. Empowered Funds LLC now owns 22,519 shares of the company’s stock worth $135,000 after purchasing an additional 3,556 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors.

CCC Intelligent Solutions Holdings Inc. Common Stock Company Profile

CCC Intelligent Solutions Holdings Inc provides cloud-based software and technology services for the property and casualty insurance economy. Its platform helps insurers, automotive repairers, automakers, parts suppliers and other industry participants manage vehicle claims and related workflows.

The company’s products support collision estimating, claims management, digital imaging, repair planning, payments, parts and supplier connectivity, and data-driven decision-making. CCC also uses artificial intelligence, analytics and automation to help customers improve claims processing, estimate vehicle damage, coordinate repairs and communicate with policyholders and service providers.

CCC’s business grew from CCC Information Services, a company established in 1980 to provide information and technology solutions to the automotive insurance and repair industries.