CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Stock Price Down 4.5% – Here’s Why

Shares of CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) dropped 4.5% during trading on Wednesday . The stock traded as low as $4.49 and last traded at $4.50. 2,183,449 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 11,951,771 shares. The stock had previously closed at $4.71.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CCC. Citigroup lowered CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $10.00 to $6.00 in a research report on Friday, April 10th. Weiss Ratings upgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Wall Street Zen raised CCC Intelligent Solutions Holdings Inc. Common Stock from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Jefferies Financial Group restated a “buy” rating and set a $8.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Saturday, May 9th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.33.

CCC Intelligent Solutions Holdings Inc. Common Stock Trading Up 0.5%

The stock has a fifty day moving average price of $4.86. The firm has a market capitalization of $2.59 billion, a P/E ratio of 73.51 and a beta of 0.53. 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) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. CCC Intelligent Solutions Holdings Inc. Common Stock had a return on equity of 6.08% and a net margin of 3.18%.The business had revenue of $281.27 million for the quarter. The company’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts predict that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.25 EPS for the current year.

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

Several hedge funds have recently added to or reduced their stakes in CCC. Empowered Funds LLC raised its holdings in CCC Intelligent Solutions Holdings Inc. Common Stock by 18.8% during the first quarter. Empowered Funds LLC now owns 22,519 shares of the company’s stock worth $135,000 after purchasing an additional 3,556 shares in the last quarter. Root Financial Partners LLC boosted its holdings 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 in the last quarter. Associated Banc Corp grew its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 33.0% in the 1st quarter. Associated Banc Corp now owns 22,368 shares of the company’s stock valued at $134,000 after buying an additional 5,544 shares during the last quarter. Essential Partners LLC purchased a new position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock in the 1st quarter valued at $38,000. Finally, Pictet Asset Management Holding SA raised its stake in CCC Intelligent Solutions Holdings Inc. Common Stock by 8.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 83,807 shares of the company’s stock worth $503,000 after acquiring an additional 6,354 shares in the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Holdings Inc. Common Stock Company Profile

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.