CCC Intelligent Solutions’ (CCCS) Outperform Rating Reiterated at Barrington Research

Barrington Research reaffirmed their outperform rating on shares of CCC Intelligent Solutions (NYSE:CCCS) in a research note published on Tuesday,Benzinga reports. Barrington Research currently has a $14.00 price target on the stock.

Several other research analysts have also issued reports on CCCS. Morgan Stanley cut their target price on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. cut CCC Intelligent Solutions from a “neutral” rating to an “underweight” rating and set a $10.00 price objective for the company. in a report on Monday, June 23rd. Piper Sandler decreased their price objective on CCC Intelligent Solutions from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Barclays dropped their target price on CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Monday, April 14th. Finally, The Goldman Sachs Group reduced their price target 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $11.93.

CCC Intelligent Solutions Price Performance

Shares of NYSE CCCS opened at $9.67 on Tuesday. CCC Intelligent Solutions has a twelve month low of $8.14 and a twelve month high of $12.88. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $6.37 billion, a P/E ratio of 483.74 and a beta of 0.74. The stock’s 50-day simple moving average is $9.35 and its two-hundred day simple moving average is $9.57.

CCC Intelligent Solutions (NYSE:CCCS) last announced its earnings results on Thursday, July 31st. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $260.45 million during the quarter, compared to analyst estimates of $256.21 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. CCC Intelligent Solutions’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 earnings per share. As a group, equities analysts anticipate that CCC Intelligent Solutions will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Crescenzo Neil E. De purchased 100,000 shares of the firm’s stock in a transaction on Friday, May 23rd. The shares were acquired at an average cost of $8.54 per share, with a total value of $854,000.00. Following the purchase, the director directly owned 213,429 shares of the company’s stock, valued at approximately $1,822,683.66. This trade represents a 88.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Timothy A. Welsh acquired 100,000 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were bought at an average cost of $9.03 per share, with a total value of $903,000.00. Following the purchase, the insider owned 168,472 shares of the company’s stock, valued at approximately $1,521,302.16. This trade represents a 146.05% increase in their position. The disclosure for this purchase can be found here. 6.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On CCC Intelligent Solutions

A number of hedge funds have recently modified their holdings of CCCS. Teacher Retirement System of Texas grew its stake in shares of CCC Intelligent Solutions by 13.6% in the first quarter. Teacher Retirement System of Texas now owns 184,804 shares of the company’s stock worth $1,669,000 after purchasing an additional 22,185 shares during the last quarter. GAMMA Investing LLC grew its position in shares of CCC Intelligent Solutions by 644.2% in the 1st quarter. GAMMA Investing LLC now owns 24,878 shares of the company’s stock worth $225,000 after buying an additional 21,535 shares during the last quarter. Amalgamated Bank increased its stake in shares of CCC Intelligent Solutions by 4.9% during the first quarter. Amalgamated Bank now owns 24,885 shares of the company’s stock valued at $225,000 after buying an additional 1,163 shares during the period. KBC Group NV raised its holdings in shares of CCC Intelligent Solutions by 26.0% during the first quarter. KBC Group NV now owns 20,261 shares of the company’s stock valued at $183,000 after acquiring an additional 4,186 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in CCC Intelligent Solutions by 35.7% in the first quarter. Fifth Third Bancorp now owns 41,678 shares of the company’s stock worth $376,000 after acquiring an additional 10,957 shares during the period. Hedge funds and other institutional investors own 95.79% of the company’s stock.

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.