CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Cut to Strong Sell at Barrington Research

Key Points

• Barrington Research downgraded CCC to “strong sell” from “strong buy,” adding to a broader shift in sentiment. The stock has an overall “hold” consensus, with one Buy, seven Hold and one Sell rating, and an average price target of $8.79.
• CCC shares recently traded at $7.61, with a market capitalization of about $4.48 billion and a high price-to-earnings ratio of 95.14. The company’s latest quarterly results beat expectations, reporting $0.10 in earnings per share versus a $0.05 consensus estimate, while revenue rose 9.8% year over year.
• CCC agreed to be acquired by GTCR and Elliott for $7.75 per share in cash, implying approximately $6.1 billion in enterprise value. Shareholder-rights law firms are investigating whether the offer fairly values the company, which could create pressure for improved terms or delay the transaction.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) was downgraded by investment analysts at Barrington Research from a "strong-buy" rating to a "strong sell" rating in a note issued to investors on Thursday, Zacks reports.

CCC has been the subject of several other research reports. CJS Securities lowered shares of CCC Intelligent Solutions Holdings Inc. Common Stock to a "market perform" rating in a research report on Friday. Wall Street Zen downgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. William Blair lowered CCC Intelligent Solutions Holdings Inc. Common Stock from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Barclays lowered 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 research note on Friday. Finally, Weiss Ratings raised CCC Intelligent Solutions Holdings Inc. Common Stock from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, 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 Performance

Shares of NASDAQ:CCC traded down $0.02 during midday trading on Thursday, reaching $7.61. 105,677,928 shares of the company's stock were exchanged, compared to its average volume of 28,801,268. The business has a 50 day moving average price of $7.02. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 95.14 and a beta of 0.47. CCC Intelligent Solutions Holdings Inc. Common Stock has a 12 month low of $4.08 and a 12 month high of $9.44. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.05. The business 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%. The company's quarterly revenue was up 9.8% on a year-over-year basis. On average, research analysts anticipate that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 earnings per share for the current year.

Institutional Trading of CCC Intelligent Solutions Holdings Inc. Common Stock

Several large investors have recently made changes to their positions in the business. Nykredit A S bought a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the second quarter worth $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 bought a new position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock in the first quarter valued at about $38,000. IFP Advisors Inc lifted its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 99.9% during the 2nd quarter. IFP Advisors Inc now owns 8,179 shares of the company's stock worth $42,000 after buying an additional 4,088 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new position in CCC Intelligent Solutions Holdings Inc. Common Stock during the 2nd quarter worth about $53,000. Institutional investors own 95.79% of the company's stock.

Trending Headlines about CCC Intelligent Solutions Holdings Inc. Common Stock

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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