CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Shares Gap Up - Still a Buy?

Key Points

• CCC Intelligent Solutions shares gapped up before Friday’s open, rising from a prior close of $5.38 to an opening price of $5.95 and last trading around $5.82, up about 8% on the day.
• Analyst sentiment is mixed: Citigroup cut CCC to neutral with a $6 target, while other firms such as Barrington Research and Stifel kept bullish ratings; the consensus rating is currently Hold with a $9.25 price target.
• The company recently beat earnings expectations, reporting $0.11 EPS versus $0.05 expected, with revenue of $281.27 million, up 11.8% year over year; institutional ownership remains high at 95.79%.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $5.38, but opened at $5.95. CCC Intelligent Solutions Holdings Inc. Common Stock shares last traded at $5.82, with a volume of 2,386,101 shares.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CCC shares. Citigroup downgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $10.00 to $6.00 in a report on Friday, April 10th. Weiss Ratings raised CCC Intelligent Solutions Holdings Inc. Common Stock from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, May 4th. Wall Street Zen upgraded 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 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Friday, April 24th. Finally, Stifel Nicolaus reiterated a "buy" rating and issued a $9.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Thursday, July 2nd. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $9.25.

CCC Intelligent Solutions Holdings Inc. Common Stock Trading Up 8.0%

The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 96.85 and a beta of 0.51. The firm has a fifty day moving average of $4.82. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.25 and a quick ratio of 1.25.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.05 by $0.06. The company had revenue of $281.27 million for the quarter. CCC Intelligent Solutions Holdings Inc. Common Stock had a return on equity of 6.08% and a net margin of 3.18%.The business's revenue was up 11.8% compared to the same quarter last year. As a group, equities analysts predict that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CCC. Wasatch Advisors LP boosted its holdings in CCC Intelligent Solutions Holdings Inc. Common Stock by 23.9% in 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 during the last quarter. London Co. of Virginia lifted its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 52.5% during the 1st quarter. London Co. of Virginia now owns 8,741,590 shares of the company's stock valued at $52,450,000 after purchasing an additional 3,007,687 shares during the period. Alfreton Capital LLP lifted its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 22.5% during the 1st quarter. Alfreton Capital LLP now owns 10,778,074 shares of the company's stock valued at $64,668,000 after purchasing an additional 1,978,074 shares during the period. Van Berkom & Associates Inc. boosted its stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 15.5% in the 1st quarter. Van Berkom & Associates Inc. now owns 13,515,096 shares of the company's stock valued at $81,091,000 after purchasing an additional 1,814,248 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 833.6% during the 1st quarter. Hsbc Holdings PLC now owns 2,030,121 shares of the company's stock worth $12,181,000 after buying an additional 1,812,674 shares during the period. 95.79% of the stock is currently owned by institutional investors.

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.