CCC Intelligent Solutions (NYSE:CCCS) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of CCC Intelligent Solutions (NYSE:CCCS) from an equal weight rating to an overweight rating in a research report sent to investors on Wednesday morning, Marketbeat.com reports. The firm currently has $15.00 target price on the stock, up from their prior target price of $14.00.

A number of other research analysts have also issued reports on the stock. Bank of America started coverage on shares of CCC Intelligent Solutions in a report on Tuesday, August 20th. They issued a “buy” rating and a $15.00 price objective for the company. Jefferies Financial Group dropped their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Barclays reduced their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Barrington Research restated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. lowered their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, CCC Intelligent Solutions currently has an average rating of “Moderate Buy” and an average target price of $13.78.

CCC Intelligent Solutions Price Performance

CCC Intelligent Solutions stock opened at $11.77 on Wednesday. The stock has a fifty day moving average of $10.96 and a 200-day moving average of $11.00. The stock has a market capitalization of $7.36 billion, a P/E ratio of 588.50, a price-to-earnings-growth ratio of 6.67 and a beta of 0.63. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. CCC Intelligent Solutions has a 52 week low of $9.79 and a 52 week high of $12.68.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $238.48 million for the quarter, compared to the consensus estimate of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.03 EPS. On average, sell-side analysts expect that CCC Intelligent Solutions will post 0.16 earnings per share for the current fiscal year.

Insider Transactions at CCC Intelligent Solutions

In other news, insider Githesh Ramamurthy sold 8,805 shares of CCC Intelligent Solutions stock in a transaction on Monday, November 11th. The stock was sold at an average price of $11.50, for a total value of $101,257.50. Following the completion of the transaction, the insider now directly owns 4,798,040 shares in the company, valued at approximately $55,177,460. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mary Jo Prigge sold 2,489 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $12.00, for a total value of $29,868.00. Following the sale, the insider now directly owns 97,268 shares in the company, valued at $1,167,216. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,664 shares of company stock worth $550,614 over the last quarter. Corporate insiders own 6.67% of the company’s stock.

Institutional Trading of CCC Intelligent Solutions

Institutional investors and hedge funds have recently bought and sold shares of the company. American International Group Inc. boosted its stake in CCC Intelligent Solutions by 68.6% during the first quarter. American International Group Inc. now owns 2,789 shares of the company’s stock valued at $33,000 after buying an additional 1,135 shares during the period. Advisors Asset Management Inc. boosted its position in shares of CCC Intelligent Solutions by 153.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock valued at $32,000 after acquiring an additional 1,729 shares during the last quarter. CWM LLC grew its holdings in shares of CCC Intelligent Solutions by 352.6% during the second quarter. CWM LLC now owns 3,105 shares of the company’s stock worth $34,000 after purchasing an additional 2,419 shares in the last quarter. Twin Tree Management LP bought a new position in shares of CCC Intelligent Solutions in the first quarter worth approximately $53,000. Finally, Huntington National Bank raised its stake in CCC Intelligent Solutions by 37.6% in the third quarter. Huntington National Bank now owns 5,852 shares of the company’s stock valued at $65,000 after purchasing an additional 1,599 shares in the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

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.