CCC Intelligent Solutions (NYSE:CCCS) Earns Outperform Rating from Barrington Research

CCC Intelligent Solutions (NYSE:CCCS)‘s stock had its “outperform” rating reaffirmed by Barrington Research in a note issued to investors on Monday,Benzinga reports. They presently have a $14.00 price target on the stock. Barrington Research’s target price would suggest a potential upside of 40.42% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Piper Sandler reduced their price objective on CCC Intelligent Solutions from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. The Goldman Sachs Group reduced their price objective on CCC Intelligent Solutions from $13.00 to $11.50 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Barclays upped their price objective on CCC Intelligent Solutions from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, August 1st. Morgan Stanley reduced their price objective on 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. Finally, JPMorgan Chase & Co. cut CCC Intelligent Solutions from a “neutral” rating to an “underweight” rating and set a $10.00 price target for the company. in a research report on Monday, June 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.07.

CCC Intelligent Solutions Stock Up 3.5%

Shares of CCC Intelligent Solutions stock opened at $9.97 on Monday. CCC Intelligent Solutions has a 1 year low of $8.14 and a 1 year high of $12.88. The business has a 50-day moving average of $9.42 and a two-hundred day moving average of $9.53. The company has a market capitalization of $6.57 billion, a P/E ratio of 498.75 and a beta of 0.74. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19.

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

Insider Activity

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De acquired 100,000 shares of the business’s stock in a transaction dated Friday, May 23rd. The stock was bought at an average cost of $8.54 per share, with a total value of $854,000.00. Following the completion of the transaction, the director directly owned 213,429 shares in the company, valued at approximately $1,822,683.66. This represents a 88.16% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lauren Young sold 30,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $9.08, for a total value of $272,400,000.00. Following the completion of the sale, the director directly owned 1,562,344 shares of the company’s stock, valued at approximately $14,186,083.52. The trade was a 95.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,005,302 shares of company stock valued at $544,851,748. Corporate insiders own 6.03% of the company’s stock.

Institutional Trading of CCC Intelligent Solutions

A number of hedge funds have recently made changes to their positions in CCCS. Quarry LP bought a new position in shares of CCC Intelligent Solutions during the fourth quarter worth approximately $36,000. Park Place Capital Corp increased its stake in shares of CCC Intelligent Solutions by 47.6% during the second quarter. Park Place Capital Corp now owns 3,806 shares of the company’s stock worth $36,000 after purchasing an additional 1,228 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of CCC Intelligent Solutions during the first quarter worth approximately $37,000. AlphaQuest LLC bought a new position in shares of CCC Intelligent Solutions during the first quarter worth approximately $47,000. Finally, SVB Wealth LLC bought a new position in shares of CCC Intelligent Solutions during the first quarter worth approximately $60,000. 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.