CCC Intelligent Solutions (NYSE:CCCS) Stock Rating Upgraded by Morgan Stanley

CCC Intelligent Solutions (NYSE:CCCS) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Wednesday, MarketBeat Ratings reports. The firm currently has a $15.00 price objective on the stock, up from their previous price objective of $14.00. Morgan Stanley’s price objective suggests a potential upside of 26.69% from the stock’s current price.

Several other analysts also recently issued reports on CCCS. Jefferies Financial Group decreased their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Bank of America started coverage on shares of CCC Intelligent Solutions in a report on Tuesday, August 20th. They issued a “buy” rating and a $15.00 target price on the stock. Barrington Research reaffirmed an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Barclays reduced their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. lowered their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $13.78.

CCC Intelligent Solutions Stock Up 1.9 %

Shares of CCC Intelligent Solutions stock opened at $11.84 on Wednesday. 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 twelve month low of $9.79 and a twelve month high of $12.68. The company has a market cap of $7.41 billion, a price-to-earnings ratio of 592.30, a price-to-earnings-growth ratio of 6.60 and a beta of 0.63. The company’s 50 day moving average is $10.93 and its 200 day moving average is $10.99.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The company had revenue of $238.48 million for the quarter, compared to the consensus estimate of $237.41 million. During the same quarter last year, the firm posted $0.03 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. Research analysts anticipate that CCC Intelligent Solutions will post 0.16 EPS for the current year.

Insider Buying and Selling

In other news, insider Githesh Ramamurthy sold 8,805 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $11.50, for a total value of $101,257.50. Following the completion of the sale, the insider now owns 4,798,040 shares of the company’s stock, valued at approximately $55,177,460. This represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael John Silva sold 29,022 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 30,172 shares of the company’s stock, valued at $324,349. This trade represents a 49.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,175 shares of company stock valued at $520,746 over the last quarter. 6.67% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CCC Intelligent Solutions

Several institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP raised its stake in CCC Intelligent Solutions by 49.1% in the third quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company’s stock valued at $158,358,000 after buying an additional 4,716,587 shares during the last quarter. Consolidated Press International Holdings Ltd. acquired a new position in shares of CCC Intelligent Solutions during the third quarter valued at about $1,082,000. Verition Fund Management LLC purchased a new position in shares of CCC Intelligent Solutions in the 3rd quarter valued at approximately $954,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in CCC Intelligent Solutions by 2.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,340,289 shares of the company’s stock worth $14,810,000 after purchasing an additional 35,785 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in CCC Intelligent Solutions by 55.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,494 shares of the company’s stock worth $834,000 after purchasing an additional 27,083 shares during the last quarter. 95.79% of the stock is currently 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.