CCC Intelligent Solutions (NYSE:CCCS) Upgraded to Hold by Zacks Investment Research

CCC Intelligent Solutions (NYSE:CCCSGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, 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. “

CCCS has been the subject of a number of other research reports. The Goldman Sachs Group assumed coverage on CCC Intelligent Solutions in a report on Thursday, April 28th. They set a “neutral” rating and a $11.00 price target for the company. Citigroup lowered their price target on CCC Intelligent Solutions from $13.00 to $11.00 in a report on Friday, February 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $10.90.

CCCS traded down $0.11 during trading on Monday, hitting $8.61. The stock had a trading volume of 1,248,908 shares, compared to its average volume of 1,166,952. The company has a 50 day moving average price of $9.65 and a 200-day moving average price of $10.62. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 4.18 and a beta of 1.10. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.30 and a quick ratio of 2.30. CCC Intelligent Solutions has a one year low of $7.41 and a one year high of $13.46.

CCC Intelligent Solutions (NYSE:CCCSGet Rating) last released its earnings results on Tuesday, March 1st. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $187.08 million during the quarter, compared to the consensus estimate 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, sell-side analysts predict that CCC Intelligent Solutions will post 0.27 EPS for the current fiscal year.

In other CCC Intelligent Solutions news, Director Eric Wei sold 17,506,195 shares of the company’s stock in a transaction dated 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 sale, the director now owns 8,238,944 shares in the company, valued at approximately $76,457,400.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 6.81% of the company’s stock.

Large investors have recently made changes to their positions in the business. Citigroup Inc. purchased a new stake in shares of CCC Intelligent Solutions in the third quarter worth approximately $526,000. Geode Capital Management LLC bought a new position in shares of CCC Intelligent Solutions in the third quarter worth $5,422,000. Rockefeller Capital Management L.P. bought a new stake in CCC Intelligent Solutions during the third quarter valued at $297,000. Coatue Management LLC bought a new stake in CCC Intelligent Solutions during the third quarter valued at $5,255,000. Finally, Penserra Capital Management LLC bought a new stake in CCC Intelligent Solutions during the third quarter valued at $196,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

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.

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