CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Hits New 52-Week Low – Here’s What Happened

Shares of CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $4.72 and last traded at $4.79, with a volume of 17742755 shares traded. The stock had previously closed at $5.40.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CCC shares. Citigroup downgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $10.00 to $6.00 in a research note on Friday, April 10th. Weiss Ratings began coverage on CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Wednesday, April 8th. They set a “sell (d)” rating for the company. Finally, Wall Street Zen downgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “hold” rating in a report on Thursday, April 9th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $6.00.

CCC Intelligent Solutions Holdings Inc. Common Stock Trading Down 11.3%

The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 45.00, a price-to-earnings-growth ratio of 1.75 and a beta of 0.71. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.43 and a quick ratio of 1.43.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. MQS Management LLC purchased a new position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter valued at about $90,000. Evolve Private Wealth LLC purchased a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock in the 1st quarter worth approximately $116,000. Krilogy Financial LLC bought a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter worth approximately $215,000. Janney Montgomery Scott LLC bought a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter worth approximately $308,000. Finally, Pictet Asset Management Holding SA raised its stake in CCC Intelligent Solutions Holdings Inc. Common Stock by 8.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 83,807 shares of the company’s stock worth $503,000 after acquiring an additional 6,354 shares during the period. 95.79% of the stock is owned by hedge funds and other 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.