CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives $13.56 Average PT from Analysts

by · The Markets Daily

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS – Get Free Report) has been given an average recommendation of “Moderate Buy” by the nine research firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $13.78.

Several research firms have issued reports on CCCS. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Barclays reduced their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Morgan Stanley raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $14.00 to $15.00 in a research note on Wednesday. Bank of America assumed coverage on CCC Intelligent Solutions in a research note on Tuesday, August 20th. They issued a “buy” rating and a $15.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th.

Get Our Latest Stock Report on CCCS

CCC Intelligent Solutions Stock Performance

Shares of NYSE CCCS opened at $11.84 on Friday. The company’s fifty day moving average price is $10.93 and its 200 day moving average price is $10.99. The company has a market capitalization of $7.41 billion, a PE ratio of 592.30, a price-to-earnings-growth ratio of 6.60 and a beta of 0.63. CCC Intelligent Solutions has a 1 year low of $9.79 and a 1 year high of $12.68. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19.

CCC Intelligent Solutions (NYSE:CCCS – Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.10 earnings per share 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 analyst estimates of $237.41 million. During the same quarter in the previous year, the business earned $0.03 EPS. CCC Intelligent Solutions’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, research analysts predict that CCC Intelligent Solutions will post 0.16 earnings per share for the current year.

Insider Activity at CCC Intelligent Solutions

In related news, insider Michael John Silva sold 29,022 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $10.75, for a total transaction of $311,986.50. Following the completion of the sale, the insider now directly owns 30,172 shares of the company’s stock, valued at approximately $324,349. This trade represents a 49.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Githesh Ramamurthy sold 8,805 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $11.50, for a total transaction of $101,257.50. Following the completion of the transaction, the insider now directly owns 4,798,040 shares in the company, valued at $55,177,460. The trade was a 0.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,175 shares of company stock valued at $520,746. 6.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On CCC Intelligent Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in CCCS. American International Group Inc. raised its position in CCC Intelligent Solutions by 68.6% in the first quarter. American International Group Inc. now owns 2,789 shares of the company’s stock valued at $33,000 after purchasing an additional 1,135 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of CCC Intelligent Solutions by 153.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock valued at $32,000 after buying an additional 1,729 shares during the period. CWM LLC lifted its stake in CCC Intelligent Solutions by 352.6% during the 2nd quarter. CWM LLC now owns 3,105 shares of the company’s stock worth $34,000 after acquiring an additional 2,419 shares in the last quarter. Twin Tree Management LP purchased a new position in CCC Intelligent Solutions during the 1st quarter valued at about $53,000. Finally, Huntington National Bank grew its position in CCC Intelligent Solutions by 37.6% in the 3rd quarter. Huntington National Bank now owns 5,852 shares of the company’s stock valued at $65,000 after acquiring an additional 1,599 shares in the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

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.

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