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

Shares of CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) gapped up prior to trading on Tuesday . The stock had previously closed at $4.52, but opened at $4.71. CCC Intelligent Solutions Holdings Inc. Common Stock shares last traded at $4.86, with a volume of 820,527 shares changing hands.

Analysts Set New Price Targets

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

CCC Intelligent Solutions Holdings Inc. Common Stock Price Performance

The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.73. The company has a market cap of $2.83 billion, a PE ratio of 80.35 and a beta of 0.57.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) last announced its earnings results on Thursday, April 30th. The company reported $0.11 earnings per share for the quarter, topping 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 company had revenue of $281.27 million for the quarter. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, equities research analysts forecast that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.25 EPS for the current fiscal year.

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

A number of hedge funds have recently bought and sold shares of the business. Root Financial Partners LLC grew its holdings in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 2,170.1% during the 1st quarter. Root Financial Partners LLC now owns 4,858 shares of the company’s stock valued at $29,000 after purchasing an additional 4,644 shares during the last quarter. Essex Financial Services Inc. bought a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock in the 1st quarter valued at $61,000. Kera Capital Partners Inc. bought a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter valued at about $62,000. Citizens Financial Group Inc. RI bought a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter valued at about $65,000. Finally, Meeder Advisory Services Inc. bought a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter valued at about $87,000. 95.79% of the stock is owned by institutional investors.

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.