CCC Intelligent Solutions Holdings Inc. (NYSE: CCCS) stock jumped 1.12% on Friday to $9.91 against a previous-day closing price of $9.80. With 1.79 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.21 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $9.95 whereas the lowest price it dropped to was $9.80. The 52-week range on CCCS shows that it touched its highest point at $13.46 and its lowest point at $7.41 during that stretch. It currently has a 1-year price target of $12.43.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CCCS was down-trending over the past week, with a drop of -0.10%, but this was up by 6.79% over a month. Three-month performance surged to 6.56% while six-month performance fell -0.10%. The stock gained 8.90% in the past year, while it has lost -12.99% so far this year. A look at the trailing 12-month EPS for CCCS yields -0.26 with Next year EPS estimates of 0.34. For the next quarter, that number is 0.07. This implies an EPS growth rate of 26.10% for this year and 12.71% for next year.
Float and Shares Shorts:
At present, 603.11 million CCCS shares are outstanding with a float of 595.84 million shares on hand for trading. On Jul 14, 2022, short shares totaled 4.95 million, which was 0.80% higher than short shares on Jun 14, 2022. In addition to Mr. Githesh Ramamurthy as the firm’s Chairman & CEO, Mr. Brian Herb serves as its Exec. VP, CFO & Chief Admin. Officer.
Through their ownership of 97.85% of CCCS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 3.17% of CCCS, in contrast to 2.92% held by mutual funds. Shares owned by individuals account for 10.81%. As the largest shareholder in CCCS with 2.78% of the stake, T. Rowe Price Associates, Inc. holds 17,084,151 shares worth 17,084,151. A second-largest stockholder of CCCS, Capital Research & Management Co, holds 9,681,908 shares, controlling over 1.58% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CCCS, holding 9,489,796 shares or 1.54% stake. With a 2.28% stake in CCCS, the T Rowe Price Mid Cap Growth Fund is the largest stakeholder. A total of 14,000,000 shares are owned by the mutual fund manager. The American Funds Small Cap World Fu, which owns about 1.13% of CCCS stock, is the second-largest Mutual Fund holder. It holds 6,953,198 shares valued at 63.97 million. Vanguard Total Stock Market Index holds 0.74% of the stake in CCCS, owning 4,528,696 shares worth 41.66 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CCCS since 8 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CCCS analysts setting a high price target of $15.00 and a low target of $11.00, the average target price over the next 12 months is $12.43. Based on these targets, CCCS could surge 51.36% to reach the target high and rise by 11.0% to reach the target low. Reaching the average price target will result in a growth of 25.43% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CCCS will report FY 2022 earnings on 02/28/2023. Analysts have provided yearly estimates in a range of $0.34 being high and $0.26 being low. For CCCS, this leads to a yearly average estimate of $0.29. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. CCC Intelligent Solutions Holdings Inc. surprised analysts by $0.01 when it reported $0.08 EPS against a consensus estimate of $0.07. The surprise factor in the prior quarter was $0.02. Based on analyst estimates, the high estimate for the next quarter is $0.08 and the low estimate is $0.06. The average estimate for the next quarter is thus $0.07.
Summary of Insider Activity:
Insiders traded CCCS stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has risen to 12 over the past year. The total number of shares bought during that period was 0 while 70,024,780 shares were sold.