CCC Intelligent Solutions (NYSE:CCCS) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of CCC Intelligent Solutions (NYSE:CCCSGet Rating) from a buy rating to a sell rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “CCC Intelligent Solutions Inc. provides SaaS platform for the property and casualty insurance economy powering operations for insurers, repairers, automakers, part suppliers, lenders and more. CCC Intelligent Solutions Inc., formerly known as Dragoneer Growth Opportunities Corp., is based in CHICAGO. “

Other equities research analysts have also recently issued reports about the company. Citigroup decreased their price objective on CCC Intelligent Solutions from $13.00 to $11.00 in a research note on Friday, February 11th. The Goldman Sachs Group assumed coverage on CCC Intelligent Solutions in a research report on Thursday, April 28th. They set a neutral rating and a $11.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $10.90.

Shares of NYSE CCCS opened at $8.51 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.30 and a quick ratio of 2.30. The stock has a market capitalization of $5.23 billion, a P/E ratio of 4.13 and a beta of 1.10. CCC Intelligent Solutions has a 1-year low of $7.41 and a 1-year high of $13.46. The business has a fifty day moving average price of $9.78 and a 200 day moving average price of $10.71.

CCC Intelligent Solutions (NYSE:CCCSGet Rating) last issued its quarterly earnings data on Tuesday, March 1st. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $187.08 million during the quarter, compared to analysts’ expectations of $181.84 million. CCC Intelligent Solutions had a negative return on equity of 1.57% and a negative net margin of 32.32%. As a group, equities research analysts anticipate that CCC Intelligent Solutions will post 0.28 earnings per share for the current fiscal year.

In related news, Director Eric Wei sold 17,506,195 shares of the stock in a transaction that occurred on Monday, April 11th. The stock was sold at an average price of $9.28, for a total value of $162,457,489.60. Following the completion of the sale, the director now owns 8,238,944 shares of the company’s stock, valued at $76,457,400.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 6.81% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in shares of CCC Intelligent Solutions during the 1st quarter worth about $1,589,000. Quantbot Technologies LP grew its holdings in shares of CCC Intelligent Solutions by 252.1% in the 1st quarter. Quantbot Technologies LP now owns 5,735 shares of the company’s stock worth $63,000 after acquiring an additional 4,106 shares during the period. Royal Bank of Canada grew its holdings in CCC Intelligent Solutions by 277.6% during the 1st quarter. Royal Bank of Canada now owns 7,696 shares of the company’s stock valued at $85,000 after buying an additional 5,658 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in CCC Intelligent Solutions by 3.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 306,511 shares of the company’s stock valued at $3,384,000 after buying an additional 10,591 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in CCC Intelligent Solutions in the first quarter valued at $3,146,000. 92.03% of the stock is owned by institutional investors and hedge funds.

CCC Intelligent Solutions Company Profile (Get Rating)

CCC Intelligent Solutions Holdings Inc provides cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. It SaaS platform digitizes mission-critical AI-enabled workflows, facilitates commerce, and connects businesses across the insurance economy, including insurance carriers, collision repairers, parts suppliers, automotive manufactures, financial institution, and others.

Featured Articles

Get a free copy of the Zacks research report on CCC Intelligent Solutions (CCCS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for CCC Intelligent Solutions (NYSE:CCCS)

Receive News & Ratings for CCC Intelligent Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CCC Intelligent Solutions and related companies with MarketBeat.com's FREE daily email newsletter.