CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCCS) stock jumped 1.17% on Thursday to $11.26 against a previous-day closing price of $11.13. With 2.08 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.49 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $11.28 whereas the lowest price it dropped to was $11.11. The 52-week range on CCCS shows that it touched its highest point at $11.40 and its lowest point at $8.19 during that stretch. It currently has a 1-year price target of $12.90. Beta for the stock currently stands at 0.70.
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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 up-trending over the past week, with a rise of 3.30%, but this was up by 4.94% over a month. Three-month performance surged to 2.36% while six-month performance rose 28.25%. The stock gained 20.30% in the past year, while it has gained 29.43% so far this year. A look at the trailing 12-month EPS for CCCS yields -0.14 with Next year EPS estimates of 0.34. For the next quarter, that number is 0.08. This implies an EPS growth rate of 113.00% for this year and 11.51% for next year.
Float and Shares Shorts:
At present, 621.24 million CCCS shares are outstanding with a float of 187.26 million shares on hand for trading. On Aug 30, 2023, short shares totaled 4.98 million, which was 0.79% higher than short shares on Jul 30, 2023. In addition to Mr. Githesh Ramamurthy as the firm’s Chairman & CEO, Mr. Brian Herb serves as its Exec. VP, CFO & Chief Admin. Officer.
Institutional Ownership:
Through their ownership of 93.78% of CCCS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 9.66% of CCCS, in contrast to 59.36% held by mutual funds. Shares owned by individuals account for 14.70%. As the largest shareholder in CCCS with 5.03% of the stake, T. Rowe Price Investment Manageme holds 31,594,111 shares worth 31,594,111. A second-largest stockholder of CCCS, The Vanguard Group, Inc., holds 16,365,312 shares, controlling over 2.61% of the firm’s shares. Janus Henderson Investors US LLC is the third largest shareholder in CCCS, holding 7,525,778 shares or 1.20% stake. With a 2.47% stake in CCCS, the T Rowe Price Mid Cap Growth Fund is the largest stakeholder. A total of 15,492,941 shares are owned by the mutual fund manager. The American Funds Small Cap World Fu, which owns about 1.28% of CCCS stock, is the second-largest Mutual Fund holder. It holds 8,042,622 shares valued at 88.63 million. Janus Henderson Global Technology holds 0.98% of the stake in CCCS, owning 6,180,347 shares worth 68.11 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, CCCS reported revenue of $192.79M and operating income of $12.52M. The EBITDA in the recently reported quarter was $30.70M and diluted EPS was $0.02.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CCCS since 0 analysts follow the stock currently. 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 $14.00 and a low target of $11.00, the average target price over the next 12 months is $12.90. Based on these targets, CCCS could surge 24.33% to reach the target high and fall by -2.31% to reach the target low. Reaching the average price target will result in a growth of 14.56% 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.
Summary of Insider Activity:
Insiders traded CCCS stock several times over the past three months with 8 Buys and 5 Sells. In these transactions, 765,707 shares were bought while 278,017 shares were sold. The number of buy transactions has increased to 33 while that of sell transactions has risen to 37 over the past year. The total number of shares bought during that period was 1,356,416 while 1,142,578 shares were sold.
