CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Sees Large Volume Increase – Here’s Why

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) saw unusually-strong trading volume on Wednesday. Approximately 19,549,397 shares were traded during mid-day trading, an increase of 37% from the average daily volume of 14,266,023 shares. The stock last traded at $7.68 and had previously closed at $7.70.

Analyst Ratings Changes

Several analysts have recently weighed in on CCC shares. CJS Securities downgraded shares of CCC Intelligent Solutions Holdings Inc. Common Stock to a “market perform” rating in a research note on Friday, October 16th. Wall Street Zen lowered CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Truist Financial set a $7.75 price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Friday, October 16th. William Blair downgraded shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 15th. Finally, Citigroup increased their price target on 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. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.79.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Performance

The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a 50 day moving average of $7.13. The stock has a market cap of $4.52 billion, a P/E ratio of 36.52 and a beta of 0.47.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) last issued its earnings results on Thursday, October 29th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.07. The company had revenue of $294.09 million during the quarter. CCC Intelligent Solutions Holdings Inc. Common Stock had a return on equity of 7.18% and a net margin of 3.81%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities research analysts anticipate that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vise Technologies Inc. boosted its holdings in CCC Intelligent Solutions Holdings Inc. Common Stock by 105.1% in the third quarter. Vise Technologies Inc. now owns 135,334 shares of the company’s stock valued at $901,000 after purchasing an additional 69,343 shares in the last quarter. State of Wyoming grew its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 18.0% during the 3rd quarter. State of Wyoming now owns 103,574 shares of the company’s stock worth $690,000 after purchasing an additional 15,818 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 58.5% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 56,900 shares of the company’s stock valued at $379,000 after buying an additional 21,000 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 322.5% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 3,951,767 shares of the company’s stock worth $26,319,000 after buying an additional 3,016,507 shares during the last quarter. Finally, T3 Companies LLC purchased a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock during the 3rd quarter valued at approximately $469,000. Institutional investors and hedge funds own 95.79% of the company’s stock.

About CCC Intelligent Solutions Holdings Inc. Common Stock

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.