CCC Intelligent Solutions (NYSE:CCCS) Shares Gap Down to $11.50

Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) gapped down prior to trading on Friday . The stock had previously closed at $11.50, but opened at $11.20. CCC Intelligent Solutions shares last traded at $11.20, with a volume of 1,046,948 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Barrington Research reiterated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday, May 1st. Evercore ISI upped their target price on CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.63.

CCC Intelligent Solutions Stock Performance

The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.43. The company has a 50 day simple moving average of $11.31 and a 200-day simple moving average of $11.40. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of -52.90, a price-to-earnings-growth ratio of 5.52 and a beta of 0.62.

CCC Intelligent Solutions (NYSE:CCCS) last issued its earnings results on Tuesday, April 30th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). CCC Intelligent Solutions had a positive return on equity of 4.52% and a negative net margin of 10.85%. The firm had revenue of $227.24 million for the quarter, compared to analyst estimates of $225.21 million. As a group, equities research analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current fiscal year.

Insider Transactions at CCC Intelligent Solutions

In other news, Director International L.P. Advent sold 41,622,992 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $11.43, for a total transaction of $475,750,798.56. Following the transaction, the director now directly owns 3,812,112 shares of the company’s stock, valued at $43,572,440.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director International L.P. Advent sold 41,622,992 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $11.43, for a total transaction of $475,750,798.56. Following the completion of the sale, the director now owns 3,812,112 shares in the company, valued at $43,572,440.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren Young sold 16,649,197 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $11.58, for a total value of $192,797,701.26. Following the sale, the director now owns 4,777,763 shares of the company’s stock, valued at approximately $55,326,495.54. The disclosure for this sale can be found here. Insiders have sold 59,553,654 shares of company stock valued at $683,603,211 over the last ninety days. 6.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On CCC Intelligent Solutions

Institutional investors have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky grew its stake in CCC Intelligent Solutions by 57.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 106,991 shares of the company’s stock valued at $1,280,000 after purchasing an additional 39,055 shares during the period. Comerica Bank grew its stake in CCC Intelligent Solutions by 103.1% in the 1st quarter. Comerica Bank now owns 774,261 shares of the company’s stock valued at $9,260,000 after purchasing an additional 392,966 shares during the period. Tidal Investments LLC grew its stake in CCC Intelligent Solutions by 10.2% in the 1st quarter. Tidal Investments LLC now owns 18,626 shares of the company’s stock valued at $223,000 after purchasing an additional 1,727 shares during the period. Redwood Investment Management LLC bought a new position in shares of CCC Intelligent Solutions during the 1st quarter worth $1,510,000. Finally, California State Teachers Retirement System grew its stake in shares of CCC Intelligent Solutions by 13.5% during the 1st quarter. California State Teachers Retirement System now owns 251,079 shares of the company’s stock worth $3,003,000 after acquiring an additional 29,922 shares during the period. Institutional investors own 95.79% of the company’s stock.

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.