CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Sees Large Drop in Short Interest - MarketBeat - Financial Daily News Site

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Sees Large Drop in Short Interest – MarketBeat

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS – Get Rating) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totalling 2,660,000 shares, a drop of 40.8% from the April 30th total of 4,490,000 shares. Currently, 2.6% of the company’s stock are short sold. Based on an average daily volume of 1,340,000 shares, the short-interest ratio is presently 2.0 days.

A number of research analysts recently weighed in on CCCS shares. Zacks Investment Research raised shares of CCC Intelligent Solutions from a “sell” rating to a “hold” rating in a research report on Monday, May 23rd. The Goldman Sachs Group initiated coverage on shares of CCC Intelligent Solutions in a research note on Thursday, April 28th. They issued a “neutral” rating and a $11.00 price target for the company. Finally, Citigroup cut their price target on shares of CCC Intelligent Solutions from $13.00 to $11.00 in a research note on Friday, February 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.90.

CCCS stock traded up $0.30 during trading hours on Friday, reaching $9.08. The stock had a trading volume of 527,543 shares, compared to its average volume of 1,161,385. The stock has a market capitalization of $5.58 billion, a PE ratio of 4.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.30 and a quick ratio of 2.30. The stock has a 50-day simple moving average of $9.48 and a 200 day simple moving average of $10.52. CCC Intelligent Solutions has a fifty-two week low of $7.41 and a fifty-two week high of $13.46.

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CCC Intelligent Solutions (NYSE:CCCS – Get Rating) last posted its earnings results on Tuesday, March 1st. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $187.08 million during the quarter, compared to analysts’ expectations of $181.84 million. CCC Intelligent Solutions had a negative net margin of 32.32% and a negative return on equity of 1.57%. On average, sell-side analysts forecast that CCC Intelligent Solutions will post 0.27 EPS for the current fiscal year.

In related news, Director Eric Wei sold 17,506,195 shares of the firm’s stock in a transaction on Monday, April 11th. The shares were sold at an average price of $9.28, for a total value of $162,457,489.60. Following the completion of the transaction, the director now owns 8,238,944 shares of the company’s stock, valued at $76,457,400.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.81% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CCCS. Citigroup Inc. acquired a new stake in shares of CCC Intelligent Solutions during the 3rd quarter worth about $526,000. Geode Capital Management LLC acquired a new stake in shares of CCC Intelligent Solutions during the 3rd quarter worth about $5,422,000. Rockefeller Capital Management L.P. acquired a new stake in shares of CCC Intelligent Solutions during the 3rd quarter worth about $297,000. Coatue Management LLC acquired a new stake in shares of CCC Intelligent Solutions during the 3rd quarter worth about $5,255,000. Finally, Penserra Capital Management LLC acquired a new stake in CCC Intelligent Solutions in the 3rd quarter worth about $196,000. Institutional investors own 92.03% of the company’s stock.

About CCC Intelligent Solutions (Get Rating)

CCC Intelligent Solutions Holdings Inc provides cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. It SaaS platform digitizes mission-critical AI-enabled workflows, facilitates commerce, and connects businesses across the insurance economy, including insurance carriers, collision repairers, parts suppliers, automotive manufactures, financial institution, and others.

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