CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) has received an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $12.06.

Several analysts have weighed in on CCCS shares. Morgan Stanley dropped their target price on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from a “neutral” rating to an “underweight” rating and set a $10.00 target price on the stock. in a research report on Monday, June 23rd. Barrington Research reissued an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Wednesday, May 7th. The Goldman Sachs Group decreased their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Finally, Barclays decreased their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th.

CCC Intelligent Solutions Stock Down 1.8%

Shares of CCC Intelligent Solutions stock opened at $9.44 on Wednesday. The firm’s 50 day moving average price is $9.15 and its 200-day moving average price is $9.70. 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 has a 52-week low of $8.14 and a 52-week high of $12.88. The company has a market cap of $6.22 billion, a P/E ratio of 472.24 and a beta of 0.74.

CCC Intelligent Solutions (NYSE:CCCS) last released its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The company had revenue of $251.57 million for the quarter, compared to the consensus estimate of $249.87 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. CCC Intelligent Solutions’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 EPS. On average, sell-side analysts predict that CCC Intelligent Solutions will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling at CCC Intelligent Solutions

In other news, Director Crescenzo Neil E. De bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average cost of $8.54 per share, for a total transaction of $854,000.00. Following the purchase, the director directly owned 213,429 shares in the company, valued at approximately $1,822,683.66. This trade represents a 88.16% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren Young sold 30,000,000 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $9.08, for a total transaction of $272,400,000.00. Following the completion of the transaction, the director owned 1,562,344 shares of the company’s stock, valued at approximately $14,186,083.52. This represents a 95.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.03% of the company’s stock.

Hedge Funds Weigh In On CCC Intelligent Solutions

Several large investors have recently made changes to their positions in the company. Riverbridge Partners LLC lifted its stake in shares of CCC Intelligent Solutions by 26.0% in the 2nd quarter. Riverbridge Partners LLC now owns 6,701,496 shares of the company’s stock valued at $63,061,000 after purchasing an additional 1,380,783 shares during the period. Public Employees Retirement System of Ohio raised its position in CCC Intelligent Solutions by 8.8% during the second quarter. Public Employees Retirement System of Ohio now owns 161,979 shares of the company’s stock worth $1,524,000 after acquiring an additional 13,074 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in CCC Intelligent Solutions by 8.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,573 shares of the company’s stock worth $425,000 after acquiring an additional 3,284 shares during the period. Lake Hills Wealth Management LLC acquired a new position in CCC Intelligent Solutions during the second quarter worth $592,000. Finally, Voya Investment Management LLC raised its position in CCC Intelligent Solutions by 9.6% during the first quarter. Voya Investment Management LLC now owns 60,207 shares of the company’s stock worth $544,000 after acquiring an additional 5,291 shares during the period. 95.79% of the stock is currently owned by institutional investors and hedge funds.

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.