CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) Sees Unusually-High Trading Volume – What’s Next?

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) shares saw unusually-high trading volume on Wednesday. 19,549,397 shares traded hands 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.

Wall Street Analysts Forecast Growth

CCC has been the topic of a number of recent analyst reports. Stifel Nicolaus restated a “buy” rating and set a $9.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Thursday, July 2nd. Barrington Research downgraded shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, October 15th. William Blair lowered 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. Wall Street Zen lowered CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Truist Financial set a $7.75 target price on CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Friday, October 16th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, CCC Intelligent Solutions Holdings Inc. Common Stock presently has an average rating of “Hold” and a consensus target price of $8.79.

CCC Intelligent Solutions Holdings Inc. Common Stock Trading Down 0.4%

The stock has a fifty day moving average of $7.11. The firm has a market cap of $4.52 billion, a P/E ratio of 95.89 and a beta of 0.47.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. The business had revenue of $285.93 million for the quarter. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Analysts expect that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nykredit A S purchased a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock in the second quarter valued at $26,000. Root Financial Partners LLC raised its stake in shares of 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 last quarter. Essential Partners LLC purchased a new position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter valued at about $38,000. IFP Advisors Inc lifted its holdings in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 99.9% in the 2nd quarter. IFP Advisors Inc now owns 8,179 shares of the company’s stock valued at $42,000 after buying an additional 4,088 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock in the 2nd quarter valued at about $53,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

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.