CCC Intelligent Solutions (NYSE:CCCS) Hits New 1-Year Low – Time to Sell?

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) reached a new 52-week low on Monday . The company traded as low as $8.97 and last traded at $9.06, with a volume of 11075462 shares trading hands. The stock had previously closed at $9.29.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CCCS shares. Piper Sandler reissued a “neutral” rating and issued a $11.00 price target (down previously from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $14.00 to $15.00 in a research report on Wednesday, November 13th. Barrington Research reiterated an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. cut CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $14.00 to $11.00 in a report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.38.

CCC Intelligent Solutions Stock Performance

The stock has a 50 day moving average price of $10.80 and a two-hundred day moving average price of $11.17. 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 company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 456.73 and a beta of 0.73.

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

Insider Transactions at CCC Intelligent Solutions

In other news, Director Eric Wei sold 42,000,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.32, for a total value of $433,440,000.00. Following the transaction, the director now owns 2,258,343 shares of the company’s stock, valued at approximately $23,306,099.76. This trade represents a 94.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Rodney Christo sold 20,077 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.20, for a total transaction of $204,785.40. The disclosure for this sale can be found here. 6.67% of the stock is owned by company insiders.

Institutional Trading of CCC Intelligent Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. Eagle Bay Advisors LLC acquired a new stake in CCC Intelligent Solutions in the fourth quarter worth $25,000. UMB Bank n.a. bought a new stake in CCC Intelligent Solutions during the 4th quarter worth approximately $28,000. TD Private Client Wealth LLC acquired a new stake in CCC Intelligent Solutions during the 4th quarter worth approximately $31,000. Advisors Asset Management Inc. lifted its stake 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 buying an additional 1,729 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of CCC Intelligent Solutions in the fourth quarter valued at approximately $36,000. 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.