CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC – Get Free Report) was downgraded by stock analysts at Truist Financial from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday, Zacks reports.
A number of other analysts also recently weighed in on the company. Barclays decreased their price target on CCC Intelligent Solutions Holdings Inc. Common Stock from $8.00 to $7.75 and set an “equal weight” rating on the stock in a research note on Friday. Wall Street Zen cut CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. William Blair cut CCC Intelligent Solutions Holdings Inc. Common Stock from a “strong-buy” rating to a “hold” rating in a research report on Thursday. CJS Securities downgraded CCC Intelligent Solutions Holdings Inc. Common Stock to a “market perform” rating in a report on Friday. Finally, Stifel Nicolaus restated a “buy” rating and set a $9.00 target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, CCC Intelligent Solutions Holdings Inc. Common Stock presently has a consensus rating of “Hold” and a consensus price target of $8.79.
Get Our Latest Report on CCC Intelligent Solutions Holdings Inc. Common Stock
CCC Intelligent Solutions Holdings Inc. Common Stock Stock Performance
NASDAQ:CCC traded down $0.02 during mid-day trading on Friday, reaching $7.61. The stock had a trading volume of 105,677,928 shares, compared to its average volume of 28,801,268. CCC Intelligent Solutions Holdings Inc. Common Stock has a twelve month low of $4.08 and a twelve month high of $9.44. The firm’s 50 day moving average price is $7.02. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 95.14 and a beta of 0.47. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71.
CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC – Get Free Report) last released its 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. 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 company’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts expect that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 earnings per share for the current year.
Institutional Investors Weigh In On CCC Intelligent Solutions Holdings Inc. Common Stock
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue acquired a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock in the 3rd quarter worth approximately $171,000. Fort Washington Investment Advisors Inc. OH increased its stake in 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 in the last quarter. Reinhart Partners LLC. acquired a new position in CCC Intelligent Solutions Holdings Inc. Common Stock during the third quarter worth $41,941,000. Central Pacific Bank Trust Division raised its holdings 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 worth $318,000 after purchasing an additional 2,320 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock during the second quarter worth $53,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.
Key CCC Intelligent Solutions Holdings Inc. Common Stock News
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.
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