CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives $14.00 Consensus Target Price from Analysts

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) has been assigned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $14.00.

A number of research firms recently weighed in on CCCS. JPMorgan Chase & Co. upped their price target on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. Barclays lowered their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Barrington Research reissued an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Finally, Piper Sandler reissued a “neutral” rating and set a $13.00 price target on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th.

Insiders Place Their Bets

In other news, CAO Rodney Christo sold 9,916 shares of CCC Intelligent Solutions stock in a transaction on Monday, November 25th. The stock was sold at an average price of $12.67, for a total value of $125,635.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Crescenzo Neil E. De acquired 100,000 shares of the stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $12.16 per share, with a total value of $1,216,000.00. Following the transaction, 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 disclosure for this purchase can be found here. 6.67% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CCC Intelligent Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Eagle Bay Advisors LLC acquired a new position in CCC Intelligent Solutions in the fourth quarter valued at $25,000. UMB Bank n.a. acquired a new position in CCC Intelligent Solutions in the fourth quarter valued at $28,000. TD Private Client Wealth LLC acquired a new position in CCC Intelligent Solutions in the fourth quarter valued at $31,000. Advisors Asset Management Inc. boosted its holdings in CCC Intelligent Solutions by 153.0% in the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock valued at $32,000 after acquiring an additional 1,729 shares during the last quarter. Finally, Quarry LP acquired a new position in CCC Intelligent Solutions in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.

CCC Intelligent Solutions Stock Performance

CCCS opened at $10.43 on Friday. The stock has a market cap of $6.84 billion, a P/E ratio of 521.76 and a beta of 0.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The stock’s 50 day simple moving average is $11.31 and its 200 day simple moving average is $11.22. CCC Intelligent Solutions has a 1-year low of $9.79 and a 1-year high of $12.88.

CCC Intelligent Solutions declared that its board has authorized a stock repurchase program on Friday, December 20th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire up to 4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.