CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Trading 8.7% Higher – Here’s Why

Shares of CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) shot up 8.7% during mid-day trading on Friday . The stock traded as high as $4.88 and last traded at $4.88. 2,242,679 shares were traded during mid-day trading, a decline of 81% from the average session volume of 11,876,968 shares. The stock had previously closed at $4.49.

Analysts Set New Price Targets

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

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Performance

The company has a debt-to-equity ratio of 0.73, a current ratio of 1.25 and a quick ratio of 1.25. The company has a fifty day moving average price of $4.79. The firm has a market cap of $2.86 billion, a PE ratio of 81.35 and a beta of 0.53.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.11 earnings per share (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 business’s revenue was up 11.8% compared to the same quarter last year. As a group, analysts forecast that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.26 earnings per share for the current year.

Institutional Trading of CCC Intelligent Solutions Holdings Inc. Common Stock

A number of large investors have recently modified their holdings of CCC. Evolve Private Wealth LLC bought a new position in CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter worth about $116,000. SG Americas Securities LLC bought a new position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock in the 1st quarter worth $3,254,000. Krilogy Financial LLC bought a new position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock in the 1st quarter worth $215,000. OP Asset Management Ltd bought a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock during the first quarter valued at about $816,000. Finally, Wasatch Advisors LP raised its holdings in CCC Intelligent Solutions Holdings Inc. Common Stock by 23.9% in the first quarter. Wasatch Advisors LP now owns 28,231,760 shares of the company’s stock worth $169,391,000 after purchasing an additional 5,440,768 shares in the last quarter. Hedge funds and other institutional investors 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.