CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Shares Down 9.4% - Should You Sell?

Key Points

• Shares of CCC Intelligent Solutions fell about 9.4% on Thursday to roughly $4.89 (intraday low $4.87) on ~4.29M shares traded, a 64% decline versus its average daily volume after closing at $5.40 the prior session.
• Analysts have recently downgraded the stock—Citigroup cut CCC from Buy to Neutral and trimmed its price target to $6, Wall Street Zen moved to Hold, and Weiss initiated a Sell—leaving a MarketBeat consensus rating of Reduce with an average price target of $6.00.
• Institutional investors own about 95.79% of the company, and notable activity includes Wasatch Advisors increasing its stake to ~28.23M shares (adding ~5.44M shares) during the quarter.

Shares of CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) were down 9.4% during trading on Thursday . The stock traded as low as $4.87 and last traded at $4.89. Approximately 4,292,587 shares traded hands during trading, a decline of 64% from the average daily volume of 11,944,023 shares. The stock had previously closed at $5.40.

Analysts Set New Price Targets

Several analysts recently commented on CCC shares. Citigroup cut shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $10.00 to $6.00 in a report on Friday, April 10th. Wall Street Zen cut shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "hold" rating in a report on Thursday, April 9th. Finally, Weiss Ratings started coverage on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Wednesday, April 8th. They set a "sell (d)" rating for the company. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, CCC Intelligent Solutions Holdings Inc. Common Stock has a consensus rating of "Reduce" and an average price target of $6.00.

CCC Intelligent Solutions Holdings Inc. Common Stock Trading Down 10.7%

The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 44.75, a P/E/G ratio of 1.74 and a beta of 0.71. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.43 and a current ratio of 1.43.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC bought a new position in CCC Intelligent Solutions Holdings Inc. Common Stock during the first quarter valued at approximately $308,000. Fort Washington Investment Advisors Inc. OH raised its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 0.7% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 3,481,093 shares of the company's stock valued at $20,887,000 after acquiring an additional 24,200 shares in the last quarter. Pictet Asset Management Holding SA raised its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 8.2% during the first quarter. Pictet Asset Management Holding SA now owns 83,807 shares of the company's stock valued at $503,000 after acquiring an additional 6,354 shares in the last quarter. Wasatch Advisors LP raised its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 23.9% during the first quarter. Wasatch Advisors LP now owns 28,231,760 shares of the company's stock valued at $169,391,000 after acquiring an additional 5,440,768 shares in the last quarter. Finally, OP Asset Management Ltd bought a new position in CCC Intelligent Solutions Holdings Inc. Common Stock during the first quarter valued at approximately $816,000. Institutional investors own 95.79% of the company's stock.

CCC Intelligent Solutions Holdings Inc. Common Stock Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.