CCC Intelligent Solutions’ (CCCS) Outperform Rating Reaffirmed at Barrington Research

Barrington Research reissued their outperform rating on shares of CCC Intelligent Solutions (NYSE:CCCS) in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a $14.00 target price on the stock.

A number of other brokerages also recently commented on CCCS. Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $14.00 to $15.00 in a report on Wednesday, November 13th. Barclays lowered their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Piper Sandler reissued a “neutral” rating and set a $13.00 target price on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. raised their price target 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. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

CCC Intelligent Solutions Price Performance

CCC Intelligent Solutions stock opened at $10.23 on Monday. CCC Intelligent Solutions has a 52-week low of $9.79 and a 52-week high of $12.88. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The firm’s fifty day moving average is $11.27 and its 200 day moving average is $11.23. The company has a market cap of $6.71 billion, a price-to-earnings ratio of 511.76 and a beta of 0.71.

CCC Intelligent Solutions announced that its board has authorized a share repurchase program on Friday, December 20th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at CCC Intelligent Solutions

In related news, Director Crescenzo Neil E. De bought 100,000 shares of the company’s stock in a transaction on Friday, December 20th. The shares were 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 directly owns 100,000 shares of the company’s stock, valued at approximately $1,216,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.67% of the company’s stock.

Institutional Trading of CCC Intelligent Solutions

A number of large investors have recently modified their holdings of CCCS. Cache Advisors LLC purchased a new position in shares of CCC Intelligent Solutions during the fourth quarter valued at $1,362,000. Squarepoint Ops LLC grew its holdings in CCC Intelligent Solutions by 736.2% during the 4th quarter. Squarepoint Ops LLC now owns 141,091 shares of the company’s stock worth $1,655,000 after acquiring an additional 124,218 shares in the last quarter. Twinbeech Capital LP purchased a new position in CCC Intelligent Solutions during the 4th quarter valued at about $489,000. TPG GP A LLC raised its holdings in shares of CCC Intelligent Solutions by 17.3% in the 4th quarter. TPG GP A LLC now owns 4,087,220 shares of the company’s stock valued at $47,943,000 after purchasing an additional 602,959 shares in the last quarter. Finally, State of Wyoming lifted its position in shares of CCC Intelligent Solutions by 26.7% in the 4th quarter. State of Wyoming now owns 17,680 shares of the company’s stock worth $207,000 after purchasing an additional 3,731 shares during the period. Hedge funds and other institutional investors own 95.79% of the company’s stock.

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.