CCC Intelligent Solutions (NYSE:CCCS) Shares Gap Down – What’s Next?

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) shares gapped down prior to trading on Wednesday . The stock had previously closed at $12.47, but opened at $12.20. CCC Intelligent Solutions shares last traded at $12.42, with a volume of 528,677 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CCCS shares. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 target price on shares of CCC Intelligent Solutions in a research note on Wednesday. Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $14.00 to $15.00 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their target price on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday. Barrington Research restated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Finally, Barclays dropped their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.89.

CCC Intelligent Solutions Stock Down 0.7 %

The business has a 50-day simple moving average of $11.51 and a 200-day simple moving average of $11.17. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 623.50, a price-to-earnings-growth ratio of 6.98 and a beta of 0.70.

CCC Intelligent Solutions (NYSE:CCCS) last issued its earnings results on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm had revenue of $238.48 million for the quarter, compared to analysts’ expectations of $237.41 million. During the same quarter last year, the company earned $0.03 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, equities analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider Githesh Ramamurthy sold 9,348 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $11.50, for a total value of $107,502.00. Following the completion of the transaction, the insider now owns 4,798,040 shares in the company, valued at $55,177,460. This represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Rodney Christo sold 9,916 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $12.67, for a total value of $125,635.72. The disclosure for this sale can be found here. Insiders have sold 443,153 shares of company stock valued at $5,390,863 over the last quarter. 6.67% of the stock is owned by insiders.

Institutional Trading of CCC Intelligent Solutions

Large investors have recently made changes to their positions in the company. CWM LLC lifted its stake in CCC Intelligent Solutions by 352.6% in the second quarter. CWM LLC now owns 3,105 shares of the company’s stock valued at $34,000 after buying an additional 2,419 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of CCC Intelligent Solutions in the 2nd quarter valued at $698,000. Wealth Enhancement Advisory Services LLC raised its position in CCC Intelligent Solutions by 0.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 589,633 shares of the company’s stock valued at $6,551,000 after purchasing an additional 5,127 shares during the last quarter. Raymond James & Associates boosted its stake in CCC Intelligent Solutions by 70.7% during the 2nd quarter. Raymond James & Associates now owns 1,344,024 shares of the company’s stock worth $14,932,000 after purchasing an additional 556,616 shares during the period. Finally, Investment House LLC purchased a new position in CCC Intelligent Solutions during the 2nd quarter worth $2,797,000. 95.79% of the stock is owned by institutional investors and hedge funds.

CCC Intelligent Solutions Company Profile

CCC Intelligent Solutions Holdings Inc, operates as a software as a service company for the property and casualty insurance economy in the United States and China. The company's cloud-based software as a service platform connects trading partners, facilitates commerce, and supports mission-critical, artificial intelligence enabled digital workflow across the insurance economy, including insurers, repairers, automakers, parts suppliers, lenders and more.