CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Rating Lowered to “Strong Sell” at Barrington Research

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) was downgraded by equities researchers at Barrington Research from a “strong-buy” rating to a “strong sell” rating in a research note issued to investors on Thursday, Zacks reports.

A number of other research analysts have also commented on the company. Wall Street Zen lowered CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Barclays dropped their target price 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 research report on Friday. 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. CJS Securities lowered CCC Intelligent Solutions Holdings Inc. Common Stock to a “market perform” rating in a research note on Friday. Finally, Jefferies Financial Group cut CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “hold” rating and set a $7.75 price target on the stock. in a report on Thursday. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $8.79.

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

Shares of CCC traded down $0.02 during mid-day trading on Thursday, hitting $7.61. 105,677,928 shares of the company traded hands, compared to its average volume of 28,801,268. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a market capitalization of $4.48 billion, a PE ratio of 95.14 and a beta of 0.47. The business has a 50-day simple moving average of $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.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $285.93 million during the quarter. The business’s revenue was up 9.8% on a year-over-year basis. As a group, 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 hedge funds have recently added to or reduced their stakes in CCC. State of Alaska Department of Revenue acquired a new position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the 3rd quarter worth about $171,000. Fort Washington Investment Advisors Inc. OH grew its holdings in CCC Intelligent Solutions Holdings Inc. Common Stock by 4.3% during the third 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 position in CCC Intelligent Solutions Holdings Inc. Common Stock during the third quarter valued at approximately $41,941,000. Central Pacific Bank Trust Division increased its stake in CCC Intelligent Solutions Holdings Inc. Common Stock by 5.1% in 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 in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock in the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 95.79% of the company’s stock.

Key Headlines Impacting CCC Intelligent Solutions Holdings Inc. Common Stock

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

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.