CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) sees sharp drop in short-term interest

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

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

CCCS stock traded at $0.30 during Friday trading hours, hitting $9.08. The stock recorded a trading volume of 527,543 shares, compared to an average volume of 1,161,385 shares. 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 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 minimum of $7.41 and a fifty-two week maximum of $13.46.

CCC Intelligent Solutions (NYSE: CCCS – Get a rating) last released its results on Tuesday, March 1. The company reported earnings per share (EPS) of $0.08 for the quarter, beating analyst consensus estimates of $0.06 by $0.02. The company posted revenue of $187.08 million in the quarter, compared to $181.84 million expected by analysts. CCC Intelligent Solutions recorded a negative net margin of 32.32% and a negative return on equity of 1.57%. On average, sell-side analysts expect CCC Intelligent Solutions to post an EPS of 0.27 for the current fiscal year.

Separately, director Eric Wei sold 17,506,195 shares of the company in a transaction on Monday, April 11. 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, valued at $76,457,400.32. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC website. 6.81% of the shares are currently held by insiders of the company.

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 Q3 worth approximately $526,000. Geode Capital Management LLC acquired a new stake in the shares of CCC Intelligent Solutions during Q3 for a value of approximately $5,422,000. Rockefeller Capital Management LP acquired a new stake in shares of CCC Intelligent Solutions during Q3 worth approximately $297,000. Coatue Management LLC acquired a new equity stake in CCC Intelligent Solutions during Q3 worth approximately $5,255,000. Finally, Penserra Capital Management LLC acquired a new stake in CCC Intelligent Solutions in Q3 worth approximately $196,000. Institutional investors hold 92.03% of the company’s shares.

About CCC Intelligent Solutions (Get a rating)

CCC Intelligent Solutions Holdings Inc provides cloud, mobile, AI, telematics, hyperscale and application technologies for the P&C insurance economy. Its SaaS platform digitizes critical AI-enabled workflows, facilitates commerce and connects businesses in the insurance economy, including insurance carriers, collision repairers, parts suppliers , car manufacturers, financial institutions and others.

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