CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Shares Gap Down - Here's What Happened

Key Points

• CCC Intelligent Solutions shares gapped down from a previous close of $6.05 to open at $5.49, later trading near $5.94 on volume of about 1.7 million shares.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and a $9.25 target price, with individual targets ranging from $6.00 to $14.00.
• The company reported quarterly EPS of $0.10, exceeding the $0.05 estimate, while revenue rose 9.8% year over year to $285.93 million. Institutional investors own approximately 95.79% of outstanding shares.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) gapped down before the market opened 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 traded.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wall Street Zen upgraded shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Barrington Research reaffirmed an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Friday, April 24th. Weiss Ratings upgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday, May 4th. Citigroup cut CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $10.00 to $6.00 in a report on Friday, April 10th. Finally, Jefferies Financial Group restated a "buy" rating and set a $8.00 price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Saturday, May 9th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, CCC Intelligent Solutions Holdings Inc. Common Stock currently has a consensus rating of "Hold" and a consensus target price of $9.25.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Performance

The company has a market capitalization of $3.46 billion, a P/E ratio of 98.35 and a beta of 0.51. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.25 and a quick ratio of 1.25. The company's fifty day moving average is $5.17.

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 (EPS) for the quarter, topping 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 business had revenue of $285.93 million during the quarter. The company's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts expect that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.26 EPS for the current fiscal year.

Institutional Investors Weigh In On CCC Intelligent Solutions Holdings Inc. Common Stock

Several hedge funds have recently modified their holdings of the company. Root Financial Partners LLC increased its holdings in CCC Intelligent Solutions Holdings Inc. Common Stock by 2,170.1% in the 1st quarter. Root Financial Partners LLC now owns 4,858 shares of the company's stock worth $29,000 after purchasing an additional 4,644 shares in the last quarter. Essential Partners LLC bought a new position in CCC Intelligent Solutions Holdings Inc. Common Stock in the first quarter valued at about $38,000. Essex Financial Services Inc. acquired a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the first quarter valued at about $61,000. Kera Capital Partners Inc. acquired a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the first quarter valued at about $62,000. Finally, Citizens Financial Group Inc. RI bought a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the first quarter worth about $65,000. 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.

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