CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Trading Down 9.4% – Here’s Why

Shares of CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) traded down 9.4% during trading on Thursday . The company traded as low as $4.87 and last traded at $4.89. 4,292,587 shares were traded during mid-day trading, a decline of 64% from the average session volume of 11,944,023 shares. The stock had previously closed at $5.40.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wall Street Zen cut shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “hold” rating in a research note on Thursday, April 9th. Weiss Ratings assumed coverage on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Wednesday, April 8th. They issued a “sell (d)” rating for the company. Citigroup cut shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “neutral” rating and cut their price target for the stock from $10.00 to $6.00 in a research note on Friday, April 10th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Friday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.00.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Up 4.0%

The company has a market cap of $2.92 billion, a PE ratio of 39.92, a price-to-earnings-growth ratio of 1.55 and a beta of 0.71. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.71.

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

Institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC boosted its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 2,170.1% during the 1st quarter. Root Financial Partners LLC now owns 4,858 shares of the company’s stock valued at $29,000 after buying an additional 4,644 shares during the period. Essex Financial Services Inc. purchased a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter valued at $61,000. MQS Management LLC purchased a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter valued at $90,000. Janney Montgomery Scott LLC purchased a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter valued at $308,000. Finally, Pictet Asset Management Holding SA boosted its position 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 valued at $503,000 after buying an additional 6,354 shares during the period. Hedge funds and other institutional investors own 95.79% of the company’s stock.

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.