CCC Intelligent Solutions Holdings Inc [CCCS] stock prices are up 2.70% to $12.17 at the moment. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The CCCS shares have gain 3.93% over the last week, with a monthly amount glided 12.06%, and seem to be holding up well over a long-time horizon.
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On 29, February 2024, CCC Intelligent Solutions Announces Pricing of Upsized Secondary Offering of 43 Million Shares of Common Stock. In a post published today on Yahoo Finance, CCC Intelligent Solutions Holdings Inc. (the “Company”) (NASDAQ: CCCS) today announced the pricing of the previously announced secondary offering of the Company’s common stock (the “Offering”) by affiliates of Advent International, L.P. and Oak Hill Capital Partners (collectively, the “Selling Stockholders”) at a price to the public of $11.42 per share. The Offering consists of 43 million shares of the Company’s common stock, upsized from the previously announced size of 40 million shares. The Selling Stockholders granted the underwriters a 30-day option to purchase up to an additional 6.45 million shares of the Company’s common stock. The Offering is expected to close on or about March 4, 2024, subject to the satisfaction of customary closing conditions. The Offering consists entirely of shares of the Company’s common stock to be sold by the Selling Stockholders, and the Company will not receive any proceeds from the sale of the shares being offered by the Selling Stockholders.
From an analyst’s perspective:
Previously, Morgan Stanley started tracking the stock with Equal-Weight rating on December 12, 2023, and set its price target to $13. On September 22, 2023, Stifel initiated with a Buy rating and assigned a price target of $14 on the stock. Evercore ISI upgraded its rating to a Outperform but stick to its price target of $13 on May 23, 2023. JP Morgan started tracking with a Overweight rating for this stock on April 13, 2023, and assigned it a price target of $11. In a note dated October 21, 2022, Barclays initiated an Equal Weight rating and provided a target price of $10 on this stock.
The stock price of CCC Intelligent Solutions Holdings Inc [CCCS] has been fluctuating between $8.33 and $13.41 over the past year. Currently, Wall Street analysts expect the stock to reach $13 within the next 12 months. CCC Intelligent Solutions Holdings Inc [NASDAQ: CCCS] shares were valued at $12.17 at the most recent close of the market. An investor can expect a potential return of 6.82% based on the average CCCS price forecast.
Analyzing the CCCS fundamentals
The CCC Intelligent Solutions Holdings Inc [NASDAQ:CCCS] reported sales of 866.38M for trailing twelve months, representing a surge of 12.00%. Gross Profit Margin for this corporation currently stands at 0.73% with Operating Profit Margin at -0.03%, Pretax Profit Margin comes in at -0.1%, and Net Profit Margin reading is -0.11%. To continue investigating profitability, this company’s Return on Assets is posted at -0.03, Equity is -0.05 and Total Capital is -0.01. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.47.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 11.92 points at the first support level, and at 11.66 for the second support level. However, for the 1st resistance point, the stock is sitting at 12.30, and for the 2nd resistance point, it is at 12.43.
CCC Intelligent Solutions Holdings Inc [CCCS] reported earnings per share of $0.09 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.08/share, meaning a difference of $0.01 and a surprise factor of 12.50%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.09 per share as compared to estimates of $0.08 per share, a difference of $0.01 representing a surprise of 12.50%.
Ratios To Look Out For
It’s worth pointing out that CCC Intelligent Solutions Holdings Inc [NASDAQ:CCCS]’s Current Ratio is 2.17. Also, the Quick Ratio is 2.17, while the Cash Ratio stands at 1.28. Considering the valuation of this stock, the price to sales ratio is 8.49, the price to book ratio is 4.12.
Transactions by insiders
Recent insider trading involved ADVENT INTERNATIONAL, L.P., Director, that happened on Mar 04 ’24 when 41.17 million shares were sold. Director, Young Lauren completed a deal on Mar 04 ’24 to sell 41.17 million shares. Meanwhile, Director Wei Eric sold 41.17 million shares on Mar 04 ’24.
