CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Shares Gap Up - Here's Why

Key Points

• CCC shares jumped 9.4%, opening at $7.68 after previously closing at $7.02, before trading at $7.56 on volume of nearly 4 million shares.
• Analyst sentiment remains moderately positive: three analysts rate the stock Buy and two rate it Hold, with a consensus price target of $9.12.
• The company recently beat quarterly earnings expectations, reporting $0.10 in EPS versus a $0.05 consensus estimate, while revenue rose 9.8% year over year to $285.93 million; institutional investors own 95.79% of shares.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) shares gapped up prior to trading on Monday. The stock had previously closed at $7.02, but opened at $7.68. CCC Intelligent Solutions Holdings Inc. Common Stock shares last traded at $7.56, with a volume of 3,966,712 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Weiss Ratings upgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday. 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. Citigroup raised their target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock from $6.00 to $6.50 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Stifel Nicolaus restated a "buy" rating and issued a $9.00 target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Thursday, July 2nd. Finally, Jefferies Financial Group set a $7.00 target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Thursday, July 30th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from 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 Trading Up 9.4%

The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The firm has a market cap of $4.52 billion, a PE ratio of 96.01 and a beta of 0.47. The company has a 50 day moving average of $6.91.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 7.18% and a net margin of 3.81%. CCC Intelligent Solutions Holdings Inc. Common Stock's revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 earnings per share for the current year.

Institutional Trading of CCC Intelligent Solutions Holdings Inc. Common Stock

Institutional investors and hedge funds have recently made changes to their positions in the business. Reinhart Partners LLC. purchased a new position in CCC Intelligent Solutions Holdings Inc. Common Stock during the 3rd quarter valued at about $41,941,000. Central Pacific Bank Trust Division boosted its position in 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 last quarter. WINTON GROUP Ltd acquired a new position in CCC Intelligent Solutions Holdings Inc. Common Stock in the 2nd quarter worth approximately $53,000. Engineers Gate Manager LP purchased a new position in CCC Intelligent Solutions Holdings Inc. Common Stock during the 2nd quarter worth approximately $2,416,000. Finally, NewEdge Advisors LLC raised its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 48.2% during the 2nd quarter. NewEdge Advisors LLC now owns 162,149 shares of the company's stock worth $837,000 after buying an additional 52,751 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors.

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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