CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Shares Up 8.4% - Should You Buy?

Key Points

• CCC shares rose 8.4% to $7.12, reaching an intraday high of $7.15, though trading volume was 73% below the stock’s average.
• Analyst sentiment is moderately positive: three analysts rate the stock a Buy and two rate it a Hold, with an average price target of $9.12 versus the recent price.
• The company exceeded quarterly EPS expectations, reporting $0.10 versus a $0.05 consensus estimate, while revenue increased 9.8% year over year to $285.93 million. Institutional investors own 95.79% of the shares.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) traded up 8.4% during mid-day trading on Friday. The company traded as high as $7.15 and last traded at $7.12. Approximately 3,076,909 shares traded hands during trading, a decline of 73% from the average daily volume of 11,401,002 shares. The stock had previously closed at $6.57.

Analyst Ratings Changes

Several analysts recently weighed in on CCC shares. Citigroup lifted their target price 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. Stifel Nicolaus reiterated a "buy" rating and issued a $9.00 target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Thursday, July 2nd. Jefferies Financial Group set a $7.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Thursday, July 30th. Weiss Ratings upgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, September 2nd. Finally, Wall Street Zen lowered shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $9.12.

CCC Intelligent Solutions Holdings Inc. Common Stock Trading Up 7.3%

The company's 50-day moving average price is $6.89. The firm has a market cap of $4.15 billion, a P/E ratio of 88.14 and a beta of 0.47. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.05. CCC Intelligent Solutions Holdings Inc. Common Stock had a net margin of 3.81% and a return on equity of 7.18%. The company had revenue of $285.93 million during the quarter. CCC Intelligent Solutions Holdings Inc. Common Stock's quarterly revenue was up 9.8% on a year-over-year basis. Equities analysts forecast that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 earnings per share for the current year.

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

A number of institutional investors have recently made changes to their positions in the business. Nykredit A S bought a new position in CCC Intelligent Solutions Holdings Inc. Common Stock during the second quarter worth $26,000. Root Financial Partners LLC raised its holdings in 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 acquiring an additional 4,644 shares in the last quarter. Essential Partners LLC bought a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock in the 1st quarter worth approximately $38,000. IFP Advisors Inc grew its holdings in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 99.9% during the 2nd quarter. IFP Advisors Inc now owns 8,179 shares of the company's stock worth $42,000 after purchasing an additional 4,088 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in CCC Intelligent Solutions Holdings Inc. Common Stock in the second quarter worth $53,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.