CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Shares Gap Up – What’s Next?

Shares of CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) gapped up before the market opened on Monday. The stock had previously closed at $7.02, but opened at $7.68. CCC Intelligent Solutions Holdings Inc. Common Stock shares last traded at $7.56, with a volume of 3,966,712 shares.

Analyst Ratings Changes

Several brokerages have recently weighed in on CCC. Jefferies Financial Group set a $7.00 target price on CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Thursday, July 30th. Citigroup increased their target price on CCC Intelligent Solutions Holdings Inc. Common Stock from $6.00 to $6.50 and gave the company a “neutral” rating in a report on Monday, August 3rd. Wall Street Zen downgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings raised CCC Intelligent Solutions Holdings Inc. Common Stock from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $9.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Thursday, July 2nd. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $9.12.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Up 3.0%

The company has a market cap of $4.61 billion, a price-to-earnings ratio of 36.14 and a beta of 0.47. 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 company’s 50-day moving average price is $6.96.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.10 earnings per share (EPS) 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 business had revenue of $285.93 million for the quarter. CCC Intelligent Solutions Holdings Inc. Common Stock’s revenue was up 9.8% compared to the same quarter last year. 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 hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 37,848,476 shares of the company’s stock valued at $227,091,000 after purchasing an additional 1,189,466 shares during the last quarter. Wasatch Advisors LP raised its holdings in shares of 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 purchasing an additional 5,440,768 shares in the last quarter. Bank of America Corp DE lifted its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 2.4% during the 1st quarter. Bank of America Corp DE now owns 14,004,344 shares of the company’s stock worth $84,026,000 after purchasing an additional 324,678 shares during the last quarter. Van Berkom & Associates Inc. lifted its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 15.5% during the 1st quarter. Van Berkom & Associates Inc. now owns 13,515,096 shares of the company’s stock worth $81,091,000 after purchasing an additional 1,814,248 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 6.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,043,781 shares of the company’s stock worth $66,254,000 after purchasing an additional 695,892 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

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.