CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Stock Rating Lowered by Evercore

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) was downgraded by analysts at Evercore from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

Several other analysts also recently issued reports on the stock. Truist Financial set a $7.75 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Friday, October 16th. Weiss Ratings upgraded shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Citigroup raised their price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock from $6.00 to $6.50 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Barrington Research lowered shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, October 15th. Finally, CJS Securities cut shares of CCC Intelligent Solutions Holdings Inc. Common Stock to a “market perform” rating in a research report on Friday, October 16th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, CCC Intelligent Solutions Holdings Inc. Common Stock currently has a consensus rating of “Hold” and an average target price of $8.79.

CCC Intelligent Solutions Holdings Inc. Common Stock Price Performance

CCC stock opened at $7.68 on Tuesday. The stock’s 50 day simple moving average is $7.14 and its 200 day simple moving average is $6.04. The company has a market cap of $4.54 billion, a P/E ratio of 59.08 and a beta of 0.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.05 and a current ratio of 2.05. CCC Intelligent Solutions Holdings Inc. Common Stock has a fifty-two week low of $4.08 and a fifty-two week high of $8.68.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.06 by $0.07. CCC Intelligent Solutions Holdings Inc. Common Stock had a return on equity of 9.11% and a net margin of 6.54%. The firm had revenue of $294.09 million during the quarter. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, research analysts expect that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 earnings per share for the current fiscal year.

Hedge Funds 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 business. Reinhart Partners LLC. purchased a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the 3rd quarter worth approximately $41,941,000. Wellington Management Group LLP bought a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock in the 2nd quarter worth approximately $17,869,000. Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 322.5% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 3,951,767 shares of the company’s stock worth $26,319,000 after purchasing an additional 3,016,507 shares during the period. London Co. of Virginia lifted its stake in CCC Intelligent Solutions Holdings Inc. Common Stock by 52.5% in the first quarter. London Co. of Virginia now owns 8,741,590 shares of the company’s stock valued at $52,450,000 after purchasing an additional 3,007,687 shares during the last quarter. Finally, Alfreton Capital LLP lifted its stake in CCC Intelligent Solutions Holdings Inc. Common Stock by 22.5% in the first quarter. Alfreton Capital LLP now owns 10,778,074 shares of the company’s stock valued at $64,668,000 after purchasing an additional 1,978,074 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

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.