CCC Intelligent Solutions Holdings Inc. Common Stock $CCC Shares Newly Bought by Beach Point Capital Management LP

Key Points

• Beach Point Capital Management bought 608,022 CCC shares worth approximately $4.05 million, representing about 0.10% of the company and 1.8% of its portfolio. Institutional investors collectively own 95.79% of CCC.
• Analyst sentiment is largely neutral: seven analysts rate CCC a Hold, compared with one Buy and one Sell. The average price target is $8.79, while several firms recently downgraded the stock or lowered their targets.
• CCC shares opened at $7.63, with a 12-month range of $4.08 to $9.44 and a market capitalization of about $4.49 billion. The company recently exceeded quarterly EPS expectations, reporting $0.10 versus the $0.05 consensus, while revenue rose 9.8% year over year to $285.93 million.

Beach Point Capital Management LP bought a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 608,022 shares of the company's stock, valued at approximately $4,049,000. CCC Intelligent Solutions Holdings Inc. Common Stock accounts for about 1.8% of Beach Point Capital Management LP's portfolio, making the stock its 10th largest holding. Beach Point Capital Management LP owned about 0.10% of CCC Intelligent Solutions Holdings Inc. Common Stock at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CCC. State of Alaska Department of Revenue bought a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock in the 3rd quarter worth approximately $171,000. Fort Washington Investment Advisors Inc. OH increased its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 4.3% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 7,180,365 shares of the company's stock worth $47,821,000 after buying an additional 292,763 shares during the last quarter. Reinhart Partners LLC. purchased a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock in the third quarter worth $41,941,000. Central Pacific Bank Trust Division raised its stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 5.1% in the third quarter. Central Pacific Bank Trust Division now owns 47,800 shares of the company's stock valued at $318,000 after buying an additional 2,320 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock in the second quarter valued at $53,000. 95.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CCC shares. William Blair downgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 15th. Jefferies Financial Group cut CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "hold" rating and set a $7.75 price objective on the stock. in a research note on Thursday, October 15th. Barclays dropped their price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock from $8.00 to $7.75 and set an "equal weight" rating on the stock in a report on Friday. Citigroup upped their price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock from $6.00 to $6.50 and gave the company a "neutral" rating in a report on Monday, August 3rd. Finally, Truist Financial set a $7.75 target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Friday. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, CCC Intelligent Solutions Holdings Inc. Common Stock has an average rating of "Hold" and an average price target of $8.79.

CCC Intelligent Solutions Holdings Inc. Common Stock Price Performance

Shares of CCC opened at $7.63 on Wednesday. The firm's 50-day moving average is $7.05. CCC Intelligent Solutions Holdings Inc. Common Stock has a twelve month low of $4.08 and a twelve month high of $9.44. The company has a market capitalization of $4.49 billion, a PE ratio of 36.33 and a beta of 0.47. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) last announced its quarterly earnings results 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. The firm 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%. CCC Intelligent Solutions Holdings Inc. Common Stock's revenue for the quarter was up 9.8% compared to the same quarter last year. Analysts expect that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 earnings per share for the current fiscal year.

CCC Intelligent Solutions Holdings Inc. Common Stock Profile

CCC Intelligent Solutions Holdings Inc provides cloud-based software and technology services for the property and casualty insurance economy. Its platform helps insurers, automotive repairers, automakers, parts suppliers and other industry participants manage vehicle claims and related workflows.

The company's products support collision estimating, claims management, digital imaging, repair planning, payments, parts and supplier connectivity, and data-driven decision-making. CCC also uses artificial intelligence, analytics and automation to help customers improve claims processing, estimate vehicle damage, coordinate repairs and communicate with policyholders and service providers.

CCC's business grew from CCC Information Services, a company established in 1980 to provide information and technology solutions to the automotive insurance and repair industries.

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