Analysts Set CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Target Price at $13.89

Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) have received a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $13.89.

CCCS has been the topic of a number of analyst reports. Barrington Research reiterated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Barclays lowered their target price on shares of 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. Piper Sandler reissued a “neutral” rating and set a $13.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Morgan Stanley raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $14.00 to $15.00 in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. boosted their target price on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th.

Insider Transactions at CCC Intelligent Solutions

In other news, Director Crescenzo Neil E. De purchased 100,000 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average price of $12.16 per share, for a total transaction of $1,216,000.00. Following the completion of the transaction, the director now directly owns 100,000 shares in the company, valued at $1,216,000. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Githesh Ramamurthy sold 8,805 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $11.50, for a total transaction of $101,257.50. Following the completion of the sale, the insider now owns 4,798,040 shares in the company, valued at $55,177,460. This represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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 corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Amalgamated Bank lifted its stake in CCC Intelligent Solutions by 5.8% in the 3rd quarter. Amalgamated Bank now owns 23,722 shares of the company’s stock valued at $262,000 after buying an additional 1,299 shares in the last quarter. Bradley Foster & Sargent Inc. CT lifted its position in shares of CCC Intelligent Solutions by 2.1% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 67,047 shares of the company’s stock valued at $745,000 after acquiring an additional 1,390 shares in the last quarter. Hardy Reed LLC boosted its stake in shares of CCC Intelligent Solutions by 7.1% during the third quarter. Hardy Reed LLC now owns 21,540 shares of the company’s stock valued at $238,000 after acquiring an additional 1,430 shares during the last quarter. Parkside Financial Bank & Trust increased its position in CCC Intelligent Solutions by 15.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 11,849 shares of the company’s stock worth $132,000 after purchasing an additional 1,564 shares in the last quarter. Finally, Huntington National Bank increased its position in CCC Intelligent Solutions by 37.6% during the 3rd quarter. Huntington National Bank now owns 5,852 shares of the company’s stock worth $65,000 after purchasing an additional 1,599 shares in the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Price Performance

Shares of CCCS opened at $11.73 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. CCC Intelligent Solutions has a fifty-two week low of $9.79 and a fifty-two week high of $12.88. The firm has a 50-day simple moving average of $11.83 and a 200-day simple moving average of $11.21. The company has a market capitalization of $7.34 billion, a price-to-earnings ratio of 586.79, a price-to-earnings-growth ratio of 6.80 and a beta of 0.71.

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

CCC Intelligent Solutions announced that its board has initiated a share buyback plan on Friday, December 20th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are 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.