CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Sees Unusually-High Trading Volume - What's Next?

Key Points

• CCC shares experienced an extraordinary volume spike: Approximately 126.4 million shares traded, up 954% from the prior session, while the stock closed at $7.62 versus $7.64 previously.
• Analyst sentiment remains moderately positive. Three analysts rate the stock a Buy and two rate it a Hold, producing a consensus “Moderate Buy” rating and an average price target of $9.12.
• CCC exceeded quarterly earnings expectations, reporting $0.10 EPS versus a $0.05 consensus estimate and revenue of $285.93 million, up 9.8% year over year. Institutional investors and hedge funds own 95.79% of the company’s shares.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) shares saw unusually-strong trading volume on Thursday. Approximately 126,447,729 shares traded hands during trading, an increase of 954% from the previous session's volume of 11,999,581 shares. The stock last traded at $7.62 and had previously closed at $7.64.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CCC shares. Stifel Nicolaus reissued a "buy" rating and issued a $9.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Thursday, July 2nd. Citigroup raised their price objective on CCC Intelligent Solutions Holdings Inc. Common Stock from $6.00 to $6.50 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. Jefferies Financial Group set a $7.00 price objective on CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Thursday, July 30th. Wall Street Zen lowered CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings upgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $9.12.

CCC Intelligent Solutions Holdings Inc. Common Stock Price Performance

The firm has a 50-day simple moving average of $6.99. The stock has a market cap of $4.48 billion, a P/E ratio of 95.14 and a beta of 0.47. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.05. The business 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%. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts expect that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CCC. Nykredit A S bought a new position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the 2nd quarter worth about $26,000. Root Financial Partners LLC grew its stake in shares of 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 valued at $29,000 after buying an additional 4,644 shares during the period. Essential Partners LLC bought a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock in the 1st quarter valued at about $38,000. IFP Advisors Inc increased its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 99.9% in the 2nd quarter. IFP Advisors Inc now owns 8,179 shares of the company's stock valued at $42,000 after buying an additional 4,088 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock in the 2nd quarter valued at about $53,000. 95.79% of the stock is owned by institutional investors and hedge funds.

About CCC Intelligent Solutions Holdings Inc. Common Stock

CCC Intelligent Solutions Holdings Inc provides cloud-based software and technology services to the property and casualty insurance economy. Its platform helps insurers, collision repair facilities, automakers, parts suppliers and other participants manage automotive claims and related workflows more efficiently.

The company's products support the claims lifecycle, including digital claim intake, damage estimating, vehicle repair management, total-loss processing, payments, customer communications and analytics.

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