CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Cut to "Hold" at Truist Financial

Key Points

• Truist Financial downgraded CCC Intelligent Solutions from “strong buy” to “hold,” following similar rating cuts from several analysts. MarketBeat’s analyst consensus is now “hold,” with an average price target of $8.79.
• CCC shares traded near $7.61, down 0.3%, with unusually high volume. The company recently reported quarterly earnings of $0.10 per share, beating the $0.05 consensus estimate, while revenue rose 9.8% year over year to $285.93 million.
• CCC agreed to be acquired by GTCR and Elliott for $7.75 per share in cash, limiting potential upside unless a competing bid emerges or terms improve. Shareholder-rights law firms are investigating whether the offer fairly values the company and whether the board adequately pursued alternatives.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) was downgraded by equities researchers at Truist Financial from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Friday, Zacks reports.

Other research analysts also recently issued reports about the stock. Barrington Research downgraded shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a "strong-buy" rating to a "strong sell" rating in a research report on Thursday. Jefferies Financial Group cut shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "hold" rating and set a $7.75 price target for the company. in a research report on Thursday. Citigroup boosted their price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock from $6.00 to $6.50 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Wall Street Zen downgraded shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Barclays dropped their price objective on CCC Intelligent Solutions Holdings Inc. Common Stock from $8.00 to $7.75 and set an "equal weight" rating on the stock in a report on Friday. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $8.79.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Down 0.3%

CCC Intelligent Solutions Holdings Inc. Common Stock stock traded down $0.02 during mid-day trading on Friday, hitting $7.61. The company had a trading volume of 105,677,928 shares, compared to its average volume of 28,801,268. The stock has a market cap of $4.48 billion, a PE ratio of 95.14 and a beta of 0.47. CCC Intelligent Solutions Holdings Inc. Common Stock has a 1 year low of $4.08 and a 1 year high of $9.44. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The business has a fifty day moving average of $7.02.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.05. The company had revenue of $285.93 million for the quarter. CCC Intelligent Solutions Holdings Inc. Common Stock had a net margin of 3.81% and a return on equity of 7.18%. CCC Intelligent Solutions Holdings Inc. Common Stock's quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts anticipate that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 earnings per share for the current year.

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

A number of institutional investors have recently modified their holdings of the business. Nykredit A S acquired a new position in CCC Intelligent Solutions Holdings Inc. Common Stock in the second quarter valued at $26,000. Root Financial Partners LLC raised its holdings in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 2,170.1% in the first quarter. Root Financial Partners LLC now owns 4,858 shares of the company's stock valued at $29,000 after buying an additional 4,644 shares during the last quarter. Essential Partners LLC acquired a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the first quarter worth about $38,000. IFP Advisors Inc grew its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 99.9% in the 2nd quarter. IFP Advisors Inc now owns 8,179 shares of the company's stock valued at $42,000 after buying an additional 4,088 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new position in CCC Intelligent Solutions Holdings Inc. Common Stock in the 2nd quarter valued at $53,000. 95.79% of the stock is owned by institutional investors and hedge funds.

More CCC Intelligent Solutions Holdings Inc. Common Stock News

Here are the key news stories impacting CCC Intelligent Solutions Holdings Inc. Common Stock this week:

• Positive Sentiment: CCC agreed to be acquired for $7.75 per share in cash, providing shareholders with a clear takeout value and helping explain the sharp increase in trading activity. The transaction is subject to customary closing conditions and approvals. CCC Intelligent Solutions acquisition announcement
• Positive Sentiment: The offer is backed by major private-equity investors, GTCR and Elliott, which may support confidence in the financing and execution of the transaction. Reports variously describe the deal’s value based on enterprise or equity value, while CCC’s announcement cites approximately $6.1 billion in enterprise value. CCC acquisition terms
• Neutral Sentiment: Trading in CCC was temporarily halted for “news pending” before the acquisition announcement. With shares trading close to the offer price, further upside may be limited unless a competing bid emerges or the deal terms improve. GTCR and Elliott acquisition report
• Negative Sentiment: Several shareholder-rights law firms, including Ademi LLP, Halper Sadeh and Brodsky & Smith, announced investigations into whether $7.75 per share fairly values CCC, whether insiders received benefits and whether the board adequately pursued competing offers. These investigations could create deal-related delays or pressure for improved terms, although they do not by themselves indicate that the transaction will fail. Ademi shareholder investigation

About CCC Intelligent Solutions Holdings Inc. Common Stock

CCC Intelligent Solutions Holdings Inc provides cloud-based software and technology services to the property and casualty insurance economy. Its platform helps insurers, collision repair facilities, automakers, parts suppliers and other participants manage automotive claims and related workflows more efficiently.

The company's products support the claims lifecycle, including digital claim intake, damage estimating, vehicle repair management, total-loss processing, payments, customer communications and analytics.

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