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

Barrington Research cut shares of CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) from a strong-buy rating to a strong sell rating in a research report released on Thursday,Zacks reports.

Other equities analysts have also recently issued research reports about the stock. William Blair cut shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Truist Financial set a $7.75 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Friday. CJS Securities lowered shares of CCC Intelligent Solutions Holdings Inc. Common Stock to a “market perform” rating in a research report on Friday. Stifel Nicolaus reissued a “buy” rating and set a $9.00 price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Thursday, July 2nd. Finally, Citigroup raised their price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock from $6.00 to $6.50 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $8.79.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Performance

CCC stock traded down $0.02 during trading on Thursday, reaching $7.61. 105,677,928 shares of the company were exchanged, compared to its average volume of 28,801,268. The stock has a market cap of $4.48 billion, a P/E ratio of 95.14 and a beta of 0.47. CCC Intelligent Solutions Holdings Inc. Common Stock has a 52-week low of $4.08 and a 52-week high of $9.44. The firm’s 50 day moving average is $7.02. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) last issued its earnings results on Thursday, July 30th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $285.93 million during the quarter. The firm’s revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts forecast that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 EPS for the current year.

Institutional Investors Weigh In On CCC Intelligent Solutions Holdings Inc. Common Stock

Several hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its stake 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 in the last quarter. Van Berkom & Associates Inc. raised its holdings in CCC Intelligent Solutions Holdings Inc. Common Stock by 15.5% in the first quarter. Van Berkom & Associates Inc. now owns 13,515,096 shares of the company’s stock valued at $81,091,000 after buying an additional 1,814,248 shares during the period. WCM Investment Management LLC purchased a new position in CCC Intelligent Solutions Holdings Inc. Common Stock in the first quarter valued at approximately $4,978,000. Bank of America Corp DE lifted its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 2.4% during the first quarter. Bank of America Corp DE now owns 14,004,344 shares of the company’s stock valued at $84,026,000 after buying an additional 324,678 shares in the last quarter. Finally, 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. 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

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.