CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives Average Rating of “Moderate Buy” from Brokerages

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $12.19.

Several research firms recently issued reports on CCCS. The Goldman Sachs Group decreased their target price on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Piper Sandler decreased their target price on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Barclays decreased their target price on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $14.00 to $11.00 in a research report on Wednesday, February 26th. Finally, Morgan Stanley decreased 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.

CCC Intelligent Solutions Stock Performance

Shares of NYSE CCCS opened at $8.47 on Tuesday. The company has a market cap of $5.58 billion, a PE ratio of 423.71 and a beta of 0.76. CCC Intelligent Solutions has a 12 month low of $8.14 and a 12 month high of $12.88. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The company has a 50-day simple moving average of $8.89 and a 200-day simple moving average of $10.42.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The business had revenue of $251.57 million during 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%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 earnings per share. On average, equities analysts anticipate that CCC Intelligent Solutions will post 0.17 earnings per share for the current year.

Insider Buying and Selling at CCC Intelligent Solutions

In other news, Director Eric Wei sold 42,000,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the transaction, the director now directly owns 2,258,343 shares of the company’s stock, valued at approximately $23,306,099.76. The trade was a 94.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Timothy A. Welsh bought 100,000 shares of CCC Intelligent Solutions stock in a transaction dated Wednesday, May 14th. The shares were purchased at an average cost of $9.03 per share, for a total transaction of $903,000.00. Following the completion of the transaction, the insider now owns 168,472 shares of the company’s stock, valued at approximately $1,521,302.16. This represents a 146.05% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 42,087,456 shares of company stock valued at $434,240,401 over the last ninety days. Corporate insiders own 6.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CCCS. Price T Rowe Associates Inc. MD lifted its position in shares of CCC Intelligent Solutions by 4,172.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,837,354 shares of the company’s stock worth $115,394,000 after purchasing an additional 9,607,085 shares in the last quarter. Duquesne Family Office LLC bought a new stake in shares of CCC Intelligent Solutions in the first quarter worth $50,523,000. Vanguard Group Inc. increased its stake in shares of CCC Intelligent Solutions by 9.9% in the first quarter. Vanguard Group Inc. now owns 56,491,007 shares of the company’s stock worth $510,114,000 after buying an additional 5,103,835 shares during the last quarter. Clarkston Capital Partners LLC bought a new stake in shares of CCC Intelligent Solutions in the first quarter worth $45,766,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of CCC Intelligent Solutions in the fourth quarter worth $58,080,000. 95.79% of the stock is 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.