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

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) has been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $13.89.

A number of research firms have recently commented on CCCS. Barclays dropped their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price objective on 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 set a $13.00 target price on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th. Barrington Research reiterated an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Finally, Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $14.00 to $15.00 in a research note on Wednesday, November 13th.

Insider Buying and Selling

In related news, insider Mary Jo Prigge sold 2,489 shares of CCC Intelligent Solutions stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $12.00, for a total value of $29,868.00. Following the transaction, the insider now directly owns 97,268 shares of the company’s stock, valued at $1,167,216. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Githesh Ramamurthy sold 8,805 shares of CCC Intelligent Solutions stock in a transaction on Monday, November 11th. The stock was sold at an average price of $11.50, for a total transaction of $101,257.50. Following the transaction, the insider now directly owns 4,798,040 shares of the company’s stock, valued at $55,177,460. This represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 443,153 shares of company stock worth $5,390,863 in the last ninety days. 6.67% of the stock is owned by insiders.

Institutional Trading of CCC Intelligent Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Curated Wealth Partners LLC bought a new stake in CCC Intelligent Solutions during the fourth quarter worth $118,000. Fort Washington Investment Advisors Inc. OH raised its stake in shares of CCC Intelligent Solutions by 6.2% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,853,183 shares of the company’s stock valued at $21,738,000 after purchasing an additional 108,510 shares during the period. AMI Asset Management Corp increased its position in shares of CCC Intelligent Solutions by 2.4% during the fourth quarter. AMI Asset Management Corp now owns 92,484 shares of the company’s stock valued at $1,085,000 after buying an additional 2,174 shares during the period. UMB Bank n.a. purchased a new stake in CCC Intelligent Solutions in the 4th quarter worth approximately $28,000. Finally, Financial Management Professionals Inc. purchased a new stake in shares of CCC Intelligent Solutions in the fourth quarter worth $54,000. 95.79% of the stock is owned by institutional investors.

CCC Intelligent Solutions Trading Up 0.6 %

NYSE:CCCS opened at $11.27 on Wednesday. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 563.78 and a beta of 0.72. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The business has a fifty day moving average of $11.92 and a 200-day moving average of $11.21. CCC Intelligent Solutions has a 1 year low of $9.79 and a 1 year high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS) last released its earnings results 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 net margin of 5.02% and a return on equity of 5.35%. The business had revenue of $238.48 million during the quarter, compared to analyst estimates of $237.41 million. During the same period in the prior year, the business earned $0.03 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Equities analysts predict that CCC Intelligent Solutions will post 0.17 earnings per share for the current year.

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

About CCC Intelligent Solutions

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.