CCC Intelligent Solutions (NYSE:CCCS) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions (NYSE:CCCS) from an overweight rating to a neutral rating in a report issued on Wednesday, Marketbeat.com reports. The brokerage currently has $11.00 price objective on the stock, down from their previous price objective of $14.00.

Several other equities research analysts have also recently commented on the stock. Barclays dropped their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 target price on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th. Finally, Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $14.00 to $15.00 in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.38.

CCC Intelligent Solutions Trading Down 2.3 %

NYSE:CCCS opened at $10.19 on Wednesday. The company has a 50-day moving average price of $11.14 and a 200-day moving average price of $11.22. CCC Intelligent Solutions has a 12 month low of $9.79 and a 12 month high of $12.88. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of 509.75 and a beta of 0.71.

CCC Intelligent Solutions announced that its board has authorized a share repurchase plan on Friday, December 20th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to purchase up to 4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at CCC Intelligent Solutions

In other news, Director Crescenzo Neil E. De acquired 100,000 shares of CCC Intelligent Solutions stock in a transaction on Friday, December 20th. The stock was acquired at an average cost of $12.16 per share, for a total transaction of $1,216,000.00. Following the purchase, the director now owns 100,000 shares in the company, valued at $1,216,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.67% of the stock is owned by company insiders.

Institutional Trading of CCC Intelligent Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Eagle Bay Advisors LLC bought a new stake in shares of CCC Intelligent Solutions in the fourth quarter worth approximately $25,000. UMB Bank n.a. bought a new stake in shares of CCC Intelligent Solutions in the fourth quarter worth approximately $28,000. TD Private Client Wealth LLC bought a new stake in shares of CCC Intelligent Solutions in the fourth quarter worth approximately $31,000. Advisors Asset Management Inc. grew its stake in shares of CCC Intelligent Solutions by 153.0% in the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock worth $32,000 after acquiring an additional 1,729 shares during the period. Finally, Quarry LP bought a new stake in shares of CCC Intelligent Solutions in the fourth quarter worth approximately $36,000. 95.79% of the stock is currently owned by institutional investors.

CCC Intelligent Solutions Company Profile

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.