CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) have received an average rating of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $13.38.

Several research firms recently issued reports on CCCS. Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. cut CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $14.00 to $11.00 in a research report on Wednesday, February 26th. Barrington Research restated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $11.00 target price (down previously from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th.

CCC Intelligent Solutions Stock Down 0.8 %

Shares of NYSE CCCS opened at $9.13 on Thursday. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 456.73 and a beta of 0.73. The company’s 50-day simple moving average is $10.75 and its 200-day simple moving average is $11.16. 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 has a 52-week low of $8.83 and a 52-week high of $12.88.

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

Insider Activity

In related news, Director Crescenzo Neil E. De bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average price of $12.16 per share, for a total transaction of $1,216,000.00. Following the acquisition, the director now owns 100,000 shares of the company’s stock, valued at approximately $1,216,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Rodney Christo sold 20,077 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total value of $204,785.40. The disclosure for this sale can be found here. Corporate insiders own 6.67% of the company’s stock.

Institutional Investors Weigh In On CCC Intelligent Solutions

A number of institutional investors have recently modified their holdings of CCCS. Eagle Bay Advisors LLC acquired a new stake in CCC Intelligent Solutions during the 4th quarter worth approximately $25,000. UMB Bank n.a. acquired a new stake in CCC Intelligent Solutions in the 4th quarter valued at about $28,000. TD Private Client Wealth LLC purchased a new position in shares of CCC Intelligent Solutions in the 4th quarter valued at about $31,000. Advisors Asset Management Inc. grew its position in shares of 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 in the last quarter. Finally, Quarry LP purchased a new stake in shares of CCC Intelligent Solutions during the fourth quarter worth approximately $36,000. 95.79% of the stock is owned by institutional investors and hedge funds.

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.