Analysts Set CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Target Price at $13.14

Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) have received an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $13.14.

A number of brokerages have recently commented on CCCS. Piper Sandler reiterated a “neutral” rating and set a $11.00 price target (down from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th.

Insider Buying and Selling

In other news, CAO Rodney Christo sold 5,846 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $9.15, for a total transaction of $53,490.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eileen Schloss sold 27,478 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $8.60, for a total transaction of $236,310.80. Following the completion of the transaction, the director now owns 26,569 shares in the company, valued at $228,493.40. The trade was a 50.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,087,456 shares of company stock valued at $434,240,401. 6.67% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CCC Intelligent Solutions

Several large investors have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky increased its holdings in CCC Intelligent Solutions by 45.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company’s stock valued at $1,824,000 after purchasing an additional 51,607 shares in the last quarter. Norman Fields Gottscho Capital Management LLC boosted its position in shares of CCC Intelligent Solutions by 34.5% in the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 397,489 shares of the company’s stock worth $4,663,000 after buying an additional 101,885 shares during the period. Barclays PLC raised its holdings in shares of CCC Intelligent Solutions by 155.7% during the 3rd quarter. Barclays PLC now owns 109,020 shares of the company’s stock valued at $1,205,000 after buying an additional 66,386 shares during the period. HighTower Advisors LLC lifted its position in CCC Intelligent Solutions by 1,355.0% during the 3rd quarter. HighTower Advisors LLC now owns 602,797 shares of the company’s stock worth $6,662,000 after acquiring an additional 561,367 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in CCC Intelligent Solutions by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 453,911 shares of the company’s stock worth $5,016,000 after acquiring an additional 85,725 shares during the period. Institutional investors and hedge funds own 95.79% of the company’s stock.

CCC Intelligent Solutions Stock Up 8.9 %

CCCS opened at $9.02 on Monday. The business’s fifty day simple moving average is $9.73 and its 200 day simple moving average is $10.88. CCC Intelligent Solutions has a 52 week low of $8.14 and a 52 week high of $12.88. The firm has a market cap of $5.93 billion, a P/E ratio of 451.23 and a beta of 0.77. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39.

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