CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Announces Quarterly Earnings Results

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) issued its quarterly earnings results on Thursday. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $294.09 million for the quarter. The company’s quarterly revenue was up 10.1% compared to the same quarter last year.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Performance

NASDAQ CCC remained flat at $7.67 on Thursday. The company’s stock had a trading volume of 4,859,272 shares, compared to its average volume of 14,367,178. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 95.89 and a beta of 0.47. CCC Intelligent Solutions Holdings Inc. Common Stock has a 1-year low of $4.08 and a 1-year high of $9.44. The company’s 50-day moving average is $7.13. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Truist Financial set a $7.75 price objective on CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Friday, October 16th. Citigroup raised 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 shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 15th. Stifel Nicolaus reiterated a “buy” rating and set a $9.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Thursday, July 2nd. Finally, Barclays dropped their price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock from $8.00 to $7.75 and set an “equal weight” rating for the company in a research report on Friday, October 16th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, CCC Intelligent Solutions Holdings Inc. Common Stock presently has an average rating of “Hold” and an average price target of $8.79.

Hedge Funds Weigh In On CCC Intelligent Solutions Holdings Inc. Common Stock

Several hedge funds have recently made changes to their positions in CCC. Root Financial Partners LLC increased its stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 2,170.1% in the 1st quarter. Root Financial Partners LLC now owns 4,858 shares of the company’s stock worth $29,000 after acquiring an additional 4,644 shares in the last quarter. Nykredit A S bought a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock during the second quarter worth about $26,000. Essential Partners LLC bought a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock during the first quarter worth about $38,000. IFP Advisors Inc grew its holdings in CCC Intelligent Solutions Holdings Inc. Common Stock by 99.9% in the second quarter. IFP Advisors Inc now owns 8,179 shares of the company’s stock worth $42,000 after purchasing an additional 4,088 shares during the period. Finally, Essex Financial Services Inc. purchased a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock in the first quarter worth about $61,000. 95.79% of the stock is owned by hedge funds and other 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.