Wall Street Zen Downgrades CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) to Hold

Key Points

• Wall Street Zen downgraded CCC Intelligent Solutions to “Hold” from “Buy,” while the broader analyst consensus is also “Hold” with an average price target of $9.00.
• CCC reported quarterly EPS of $0.10, beating the $0.05 consensus estimate, on revenue of $285.93 million—up 9.8% year over year.
• The stock opened at $6.09, with a $3.57 billion market capitalization and a 52-week range of $4.08 to $10.50; institutional investors own approximately 95.79% of outstanding shares.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

Other research analysts also recently issued reports about the company. 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 CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Thursday. Weiss Ratings raised CCC Intelligent Solutions Holdings Inc. Common Stock from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, May 4th. Barrington Research reiterated an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Friday, April 24th. Finally, Citigroup cut shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $10.00 to $6.00 in a research note on Friday, April 10th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $9.00.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Performance

Shares of CCC opened at $6.09 on Friday. CCC Intelligent Solutions Holdings Inc. Common Stock has a fifty-two week low of $4.08 and a fifty-two week high of $10.50. The firm has a market capitalization of $3.57 billion, a P/E ratio of 76.13 and a beta of 0.51. The business's 50-day simple moving average is $5.23. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.73.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) last issued its quarterly 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 firm had revenue of $285.93 million for the quarter. CCC Intelligent Solutions Holdings Inc. Common Stock had a return on equity of 7.07% and a net margin of 3.81%.The business's revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.26 EPS for the current year.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP grew its stake in CCC Intelligent Solutions Holdings Inc. Common Stock by 23.9% in the 1st quarter. Wasatch Advisors LP now owns 28,231,760 shares of the company's stock valued at $169,391,000 after acquiring an additional 5,440,768 shares during the last quarter. London Co. of Virginia lifted its holdings in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 52.5% in the first quarter. London Co. of Virginia now owns 8,741,590 shares of the company's stock valued at $52,450,000 after purchasing an additional 3,007,687 shares in the last quarter. Alfreton Capital LLP lifted its holdings in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 22.5% in the first quarter. Alfreton Capital LLP now owns 10,778,074 shares of the company's stock valued at $64,668,000 after purchasing an additional 1,978,074 shares in the last quarter. Van Berkom & Associates Inc. grew its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 15.5% in the first quarter. Van Berkom & Associates Inc. now owns 13,515,096 shares of the company's stock valued at $81,091,000 after purchasing an additional 1,814,248 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 833.6% in the first quarter. Hsbc Holdings PLC now owns 2,030,121 shares of the company's stock valued at $12,181,000 after purchasing an additional 1,812,674 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company's stock.

About CCC Intelligent Solutions Holdings Inc. Common Stock

CCC Intelligent Solutions Holdings Inc is a provider of cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. The company's SaaS platform connects trading partners, facilitates commerce, and supports mission-critical, AI-enabled digital workflows. It operates in a single segment being Domestic segment, which provides SAAS platform for the P&C insurance economy and derives revenues from providing customers with software subscriptions to the platform in addition to providing professional services and non-software services.

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