CCC Intelligent Solutions (NYSE:CCCS) Shares Gap Down - Should You Sell?

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $9.23, but opened at $8.75. CCC Intelligent Solutions shares last traded at $8.69, with a volume of 3,475,481 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CCCS shares. Barrington Research reiterated an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Wednesday, May 7th. Piper Sandler reduced their price objective on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Barclays decreased their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. The Goldman Sachs Group cut their target price on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, Morgan Stanley reduced their price target on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $12.19.

CCC Intelligent Solutions Stock Down 3.8%

The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 423.71 and a beta of 0.76. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The business's 50 day moving average is $8.91 and its 200-day moving average is $10.44.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.08. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The company had revenue of $251.57 million during the quarter, compared to analysts' expectations of $249.87 million. During the same period in the prior year, the company earned $0.09 earnings per share. The business's quarterly revenue was up 10.7% compared to the same quarter last year. Equities analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other CCC Intelligent Solutions news, Director Eric Wei sold 42,000,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.32, for a total value of $433,440,000.00. Following the sale, the director now directly owns 2,258,343 shares in the company, valued at $23,306,099.76. This trade represents a 94.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eileen Schloss sold 27,478 shares of the company's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $8.60, for a total transaction of $236,310.80. Following the transaction, the director now directly owns 26,569 shares of the company's stock, valued at $228,493.40. This represents a 50.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,087,456 shares of company stock valued at $434,240,401 in the last three months. Company insiders own 6.03% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCCS. T. Rowe Price Investment Management Inc. raised its stake in shares of CCC Intelligent Solutions by 6.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 72,967,671 shares of the company's stock worth $658,899,000 after acquiring an additional 4,100,954 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of CCC Intelligent Solutions by 9.9% in the first quarter. Vanguard Group Inc. now owns 56,491,007 shares of the company's stock valued at $510,114,000 after purchasing an additional 5,103,835 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of CCC Intelligent Solutions by 1.4% in the first quarter. Principal Financial Group Inc. now owns 27,303,495 shares of the company's stock valued at $246,551,000 after purchasing an additional 363,944 shares in the last quarter. Brown Advisory Inc. raised its position in CCC Intelligent Solutions by 30.7% in the 1st quarter. Brown Advisory Inc. now owns 18,346,792 shares of the company's stock worth $165,672,000 after purchasing an additional 4,313,296 shares during the last quarter. Finally, Akre Capital Management LLC lifted its holdings in CCC Intelligent Solutions by 23.5% during the 1st quarter. Akre Capital Management LLC now owns 13,190,384 shares of the company's stock worth $119,109,000 after buying an additional 2,508,986 shares in the last quarter. Institutional investors own 95.79% of the company's stock.

About CCC Intelligent Solutions

CCC Intelligent Solutions Holdings Inc, operates as a software as a service company for the property and casualty insurance economy in the United States and China. The company's cloud-based software as a service platform connects trading partners, facilitates commerce, and supports mission-critical, artificial intelligence enabled digital workflow across the insurance economy, including insurers, repairers, automakers, parts suppliers, lenders and more.