CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Announces Earnings Results, Beats Estimates By $0.07 EPS

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) released its quarterly earnings results on Thursday. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.07, FiscalAI reports. CCC Intelligent Solutions Holdings Inc. Common Stock had a net margin of 3.81% and a return on equity of 7.18%. The firm had revenue of $294.09 million for the quarter. CCC Intelligent Solutions Holdings Inc. Common Stock’s quarterly revenue was up 10.1% on a year-over-year basis.

CCC Intelligent Solutions Holdings Inc. Common Stock Trading Up 0.1%

Shares of NASDAQ CCC opened at $7.68 on Friday. CCC Intelligent Solutions Holdings Inc. Common Stock has a 12 month low of $4.08 and a 12 month high of $9.44. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The stock has a fifty day moving average of $7.13. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 36.52 and a beta of 0.47.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CCC shares. Citigroup boosted their target price 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 report on Monday, August 3rd. William Blair downgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 15th. Jefferies Financial Group lowered shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “hold” rating and set a $7.75 price target for the company. in a research note on Thursday, October 15th. Barrington Research downgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, October 15th. Finally, CJS Securities downgraded CCC Intelligent Solutions Holdings Inc. Common Stock to a “market perform” rating in a research report on Friday, October 16th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $8.79.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CCC. Principal Financial Group Inc. boosted 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 worth $227,091,000 after buying an additional 1,189,466 shares during the last quarter. Bank of America Corp DE lifted its stake 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 valued at $84,026,000 after buying an additional 324,678 shares in the last quarter. Van Berkom & Associates Inc. increased its stake in CCC Intelligent Solutions Holdings Inc. Common Stock by 15.5% in the 1st quarter. Van Berkom & Associates Inc. now owns 13,515,096 shares of the company’s stock worth $81,091,000 after buying an additional 1,814,248 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in CCC Intelligent Solutions Holdings Inc. Common Stock by 6.7% in 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 in the last quarter. Finally, Alfreton Capital LLP increased its holdings in CCC Intelligent Solutions Holdings Inc. Common Stock by 22.5% in the 1st quarter. Alfreton Capital LLP now owns 10,778,074 shares of the company’s stock valued at $64,668,000 after acquiring an additional 1,978,074 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors.

CCC Intelligent Solutions Holdings Inc. Common Stock Company Profile

CCC Intelligent Solutions Holdings Inc provides cloud-based software and technology services for the property and casualty insurance economy. Its platform helps insurers, automotive repairers, automakers, parts suppliers and other industry participants manage vehicle claims and related workflows.

The company’s products support collision estimating, claims management, digital imaging, repair planning, payments, parts and supplier connectivity, and data-driven decision-making. CCC also uses artificial intelligence, analytics and automation to help customers improve claims processing, estimate vehicle damage, coordinate repairs and communicate with policyholders and service providers.

CCC’s business grew from CCC Information Services, a company established in 1980 to provide information and technology solutions to the automotive insurance and repair industries.