CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Shares Gap Down – What’s Next?

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) gapped down prior to trading on Thursday . The stock had previously closed at $6.05, but opened at $5.49. CCC Intelligent Solutions Holdings Inc. Common Stock shares last traded at $5.94, with a volume of 1,706,711 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CCC shares. Citigroup lowered shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $10.00 to $6.00 in a report on Friday, April 10th. Jefferies Financial Group reaffirmed a “buy” rating and set a $8.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Saturday, May 9th. Barrington Research reiterated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a 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 report on Monday, May 4th. Finally, Wall Street Zen raised shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Three research 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’s stock. According to data from MarketBeat, CCC Intelligent Solutions Holdings Inc. Common Stock presently has an average rating of “Hold” and an average target price of $9.25.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Performance

The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.25 and a current ratio of 1.25. The business has a fifty day moving average of $5.17. The stock has a market cap of $3.46 billion, a PE ratio of 98.35 and a beta of 0.51.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. CCC Intelligent Solutions Holdings Inc. Common Stock had a net margin of 3.18% and a return on equity of 6.08%. The company had revenue of $285.93 million for the quarter. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Analysts predict that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CCC Intelligent Solutions Holdings Inc. Common Stock

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Central Pacific Bank Trust Division grew its holdings in CCC Intelligent Solutions Holdings Inc. Common Stock by 94.3% during the 2nd quarter. Central Pacific Bank Trust Division now owns 45,480 shares of the company’s stock worth $235,000 after acquiring an additional 22,070 shares during the period. Pacer Advisors Inc. acquired a new position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock in the 1st quarter valued at about $10,836,000. Empowered Funds LLC lifted its stake 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 valued at $135,000 after purchasing an additional 3,556 shares during the period. NewEdge Advisors LLC lifted its stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 51.7% in the 1st quarter. NewEdge Advisors LLC now owns 109,398 shares of the company’s stock valued at $656,000 after purchasing an additional 37,265 shares during the period. Finally, Caerus Investment Advisors LLC bought a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter valued at about $105,000. Institutional investors and hedge funds own 95.79% of the company’s stock.

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.