CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives $13.78 Average PT from Analysts

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) has received a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $13.78.

Several research firms have recently weighed in on CCCS. JPMorgan Chase & Co. cut their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Bank of America initiated coverage on shares of CCC Intelligent Solutions in a research note on Tuesday, August 20th. They issued a “buy” rating and a $15.00 price target on the stock. Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $14.00 to $15.00 in a research report on Wednesday, November 13th. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Finally, Barclays reduced 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 note on Tuesday, October 29th.

Insider Buying and Selling at CCC Intelligent Solutions

In other news, insider Githesh Ramamurthy sold 9,348 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $11.50, for a total value of $107,502.00. Following the transaction, the insider now owns 4,798,040 shares of the company’s stock, valued at approximately $55,177,460. This represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the insider now directly owns 97,268 shares of the company’s stock, valued at approximately $1,167,216. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 443,153 shares of company stock valued at $5,390,863 in the last quarter. 6.67% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CCC Intelligent Solutions

A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its holdings in CCC Intelligent Solutions by 4.9% in the 3rd quarter. Principal Financial Group Inc. now owns 26,484,511 shares of the company’s stock valued at $292,654,000 after buying an additional 1,234,281 shares during the period. Dragoneer Investment Group LLC boosted its position in shares of CCC Intelligent Solutions by 31.5% during the 2nd quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company’s stock worth $176,704,000 after acquiring an additional 3,809,200 shares in the last quarter. Wasatch Advisors LP increased 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 acquiring an additional 4,716,587 shares during the last quarter. Ghisallo Capital Management LLC bought a new position in CCC Intelligent Solutions in the second quarter valued at approximately $132,917,000. Finally, Conestoga Capital Advisors LLC raised its position in CCC Intelligent Solutions by 18.7% during the third quarter. Conestoga Capital Advisors LLC now owns 9,508,085 shares of the company’s stock valued at $105,064,000 after purchasing an additional 1,498,200 shares in the last quarter. Institutional investors own 95.79% of the company’s stock.

CCC Intelligent Solutions Stock Performance

Shares of CCC Intelligent Solutions stock opened at $12.67 on Tuesday. CCC Intelligent Solutions has a 52 week low of $9.79 and a 52 week high of $12.88. 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 stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of 633.82, a PEG ratio of 7.02 and a beta of 0.71. The firm has a fifty day moving average of $11.44 and a two-hundred day moving average of $11.16.

CCC Intelligent Solutions (NYSE:CCCS) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The company had revenue of $238.48 million during the quarter, compared to analysts’ expectations of $237.41 million. During the same period in the prior year, the business posted $0.03 EPS. CCC Intelligent Solutions’s revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts predict that CCC Intelligent Solutions will post 0.17 EPS for the current year.

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.