CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Given Average Rating of “Moderate Buy” by Analysts

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) has received an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $12.57.

CCCS has been the subject of several analyst reports. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $14.00 to $11.00 in a research report on Wednesday, February 26th. Barrington Research reiterated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Piper Sandler reissued a “neutral” rating and set a $11.00 target price (down from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. Morgan Stanley lowered their price target on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Finally, Barclays dropped their price objective on 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.

Insider Activity

In related news, Director Eric Wei sold 42,000,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the completion of the sale, the director now directly owns 2,258,343 shares in the company, valued at $23,306,099.76. This represents a 94.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Rodney Christo sold 20,077 shares of CCC Intelligent Solutions stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total value of $204,785.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,087,456 shares of company stock worth $434,240,401. 6.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CCCS. Eagle Bay Advisors LLC bought a new stake in CCC Intelligent Solutions in the 4th quarter worth $25,000. UMB Bank n.a. bought a new position in CCC Intelligent Solutions during the 4th quarter valued at approximately $28,000. TD Private Client Wealth LLC bought a new position in CCC Intelligent Solutions during the 4th quarter valued at approximately $31,000. Quarry LP purchased a new position in shares of CCC Intelligent Solutions during the fourth quarter valued at approximately $36,000. Finally, GAMMA Investing LLC raised its holdings in shares of CCC Intelligent Solutions by 286.9% during the fourth quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock valued at $39,000 after acquiring an additional 2,479 shares in the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Stock Performance

NYSE CCCS opened at $9.18 on Friday. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions has a 1 year low of $8.14 and a 1 year high of $12.88. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 459.23 and a beta of 0.77. The firm’s 50 day simple moving average is $9.12 and its 200 day simple moving average is $10.67.

CCC Intelligent Solutions Company Profile

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.