CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Sees Strong Trading Volume - Here's Why

Key Points

• CCC shares saw unusually high trading volume, with approximately 19.5 million shares changing hands—37% above the average daily volume. The stock edged down 0.4% to $7.68.
• Analyst sentiment is mostly neutral: the consensus rating is “Hold” from MarketBeat, with a consensus price target of $8.79. Several firms recently downgraded the stock or lowered their targets, while Stifel maintained a “Buy” rating with a $9 target.
• CCC reported quarterly EPS of $0.10, beating estimates of $0.05, while revenue rose 9.8% year over year to $285.93 million. Institutional investors and hedge funds own approximately 95.79% of the company’s shares.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) saw unusually-high trading volume on Wednesday. Approximately 19,549,397 shares changed hands during trading, an increase of 37% from the average daily volume of 14,266,023 shares. The stock last traded at $7.68 and had previously closed at $7.70.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays lowered their target price on CCC Intelligent Solutions Holdings Inc. Common Stock from $8.00 to $7.75 and set an "equal weight" rating for the company in a report on Friday, October 16th. Truist Financial set a $7.75 price objective on CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Friday, October 16th. William Blair lowered shares of 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 shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "hold" rating and set a $7.75 target price on the stock. in a report on Thursday, October 15th. Finally, Stifel Nicolaus restated a "buy" rating and issued a $9.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $8.79.

CCC Intelligent Solutions Holdings Inc. Common Stock Trading Down 0.4%

The business's 50 day moving average price is $7.11. The company has a market cap of $4.52 billion, a P/E ratio of 95.89 and a beta of 0.47.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. The firm had revenue of $285.93 million for the quarter. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. Sell-side analysts anticipate that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 EPS for the current fiscal year.

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

Large investors have recently made changes to their positions in the business. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 322.5% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 3,951,767 shares of the company's stock worth $26,319,000 after purchasing an additional 3,016,507 shares in the last quarter. T3 Companies LLC purchased a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock in the third quarter valued at about $469,000. Beach Point Capital Management LP purchased a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock in the third quarter valued at about $4,049,000. State of Alaska Department of Revenue purchased a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock in the third quarter valued at about $171,000. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings 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 acquiring an additional 292,763 shares in the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

CCC Intelligent Solutions Holdings Inc. Common Stock Company 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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