CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Stock Rating Cut to “Hold” at Truist Financial

Truist Financial downgraded shares of CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) from a strong-buy rating to a hold rating in a research report report published on Friday,Zacks reports.

A number of other equities analysts have also issued reports on the company. Barclays decreased their price objective on CCC Intelligent Solutions Holdings Inc. Common Stock from $8.00 to $7.75 and set an “equal weight” rating for the company in a report on Friday. Barrington Research downgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday. 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, October 8th. Citigroup increased their price target on CCC Intelligent Solutions Holdings Inc. Common Stock from $6.00 to $6.50 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen lowered CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.79.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Down 0.3%

NASDAQ CCC traded down $0.02 on Friday, hitting $7.61. The stock had a trading volume of 105,677,928 shares, compared to its average volume of 28,801,268. The firm’s 50-day simple moving average is $7.02. CCC Intelligent Solutions Holdings Inc. Common Stock has a one year low of $4.08 and a one year high of $9.44. The stock has a market cap of $4.48 billion, a PE ratio of 95.14 and a beta of 0.47. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. The company 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%. The firm’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.

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

Several large investors have recently made changes to their positions in the business. State of Alaska Department of Revenue acquired a new position in CCC Intelligent Solutions Holdings Inc. Common Stock in the third quarter worth approximately $171,000. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 4.3% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 7,180,365 shares of the company’s stock valued at $47,821,000 after purchasing an additional 292,763 shares during the period. Reinhart Partners LLC. acquired a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the 3rd quarter valued at $41,941,000. Central Pacific Bank Trust Division boosted its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 5.1% during the third quarter. Central Pacific Bank Trust Division now owns 47,800 shares of the company’s stock valued at $318,000 after purchasing an additional 2,320 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock in the 2nd quarter valued at approximately $53,000. Institutional investors own 95.79% of the company’s stock.

CCC Intelligent Solutions Holdings Inc. Common Stock News Summary

Here are the key news stories impacting CCC Intelligent Solutions Holdings Inc. Common Stock this week:

• Positive Sentiment: CCC agreed to be acquired for $7.75 per share in cash, providing shareholders with a clear takeout value and helping explain the sharp increase in trading activity. The transaction is subject to customary closing conditions and approvals. CCC Intelligent Solutions acquisition announcement
• Positive Sentiment: The offer is backed by major private-equity investors, GTCR and Elliott, which may support confidence in the financing and execution of the transaction. Reports variously describe the deal’s value based on enterprise or equity value, while CCC’s announcement cites approximately $6.1 billion in enterprise value. CCC acquisition terms
• Neutral Sentiment: Trading in CCC was temporarily halted for “news pending” before the acquisition announcement. With shares trading close to the offer price, further upside may be limited unless a competing bid emerges or the deal terms improve. GTCR and Elliott acquisition report
• Negative Sentiment: Several shareholder-rights law firms, including Ademi LLP, Halper Sadeh and Brodsky & Smith, announced investigations into whether $7.75 per share fairly values CCC, whether insiders received benefits and whether the board adequately pursued competing offers. These investigations could create deal-related delays or pressure for improved terms, although they do not by themselves indicate that the transaction will fail. Ademi shareholder investigation

CCC Intelligent Solutions Holdings Inc. Common Stock Company Profile

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.