CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives $13.89 Consensus Target Price from Analysts

by · The Cerbat Gem

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS – Get Free Report) has earned an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $13.89.

CCCS has been the subject of several recent analyst reports. Barrington Research reissued an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. JPMorgan Chase & Co. boosted their target price on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Piper Sandler reiterated a “neutral” rating and issued a $13.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Barclays decreased their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Finally, Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $14.00 to $15.00 in a report on Wednesday, November 13th.

Read Our Latest Report on CCCS

CCC Intelligent Solutions Trading Down 0.4 %

NYSE:CCCS opened at $11.55 on Friday. The company has a market capitalization of $7.22 billion, a PE ratio of 577.79, a P/E/G ratio of 6.80 and a beta of 0.71. CCC Intelligent Solutions has a 52-week low of $9.79 and a 52-week high of $12.88. The stock’s 50 day moving average price is $11.86 and its 200 day moving average price is $11.22. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions (NYSE:CCCS – Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The firm had revenue of $238.48 million during the quarter, compared to the consensus estimate of $237.41 million. During the same period in the prior year, the business earned $0.03 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts anticipate that CCC Intelligent Solutions will post 0.17 EPS for the current year.

CCC Intelligent Solutions announced that its board has approved a stock repurchase plan on Friday, December 20th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 75,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $11.80, for a total value of $885,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Crescenzo Neil E. De purchased 100,000 shares of the stock in a transaction dated Friday, December 20th. The shares were purchased at an average price of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the acquisition, the director now owns 100,000 shares of the company’s stock, valued at approximately $1,216,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 443,153 shares of company stock valued at $5,390,863 in the last ninety days. Corporate insiders own 6.67% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Advisors Asset Management Inc. lifted its position in CCC Intelligent Solutions by 153.0% during the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock worth $32,000 after buying an additional 1,729 shares during the period. GAMMA Investing LLC lifted its holdings in shares of CCC Intelligent Solutions by 286.9% during the 4th quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock worth $39,000 after acquiring an additional 2,479 shares during the period. Huntington National Bank boosted its position in shares of CCC Intelligent Solutions by 37.6% in the third quarter. Huntington National Bank now owns 5,852 shares of the company’s stock worth $65,000 after acquiring an additional 1,599 shares during the last quarter. Marco Investment Management LLC purchased a new stake in CCC Intelligent Solutions in the third quarter valued at approximately $113,000. Finally, KBC Group NV raised its stake in CCC Intelligent Solutions by 81.7% during the third quarter. KBC Group NV now owns 10,314 shares of the company’s stock worth $114,000 after purchasing an additional 4,637 shares during the period. Hedge funds and other institutional investors own 95.79% of the company’s stock.

About CCC Intelligent Solutions

(Get Free Report

CCC Intelligent Solutions Holdings Inc, operates as a software as a service company for the property and casualty insurance economy in the United States and China. The company's cloud-based software as a service platform connects trading partners, facilitates commerce, and supports mission-critical, artificial intelligence enabled digital workflow across the insurance economy, including insurers, repairers, automakers, parts suppliers, lenders and more.

Recommended Stories