Brokerages Set CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Target Price at $13.89

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) has earned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $13.89.

A number of research firms have weighed in on CCCS. Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 price target on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th. JPMorgan Chase & Co. upped their price target on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Barclays reduced their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De purchased 100,000 shares of the stock in a transaction on Friday, December 20th. The shares were bought at an average cost of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the acquisition, the director now owns 100,000 shares in the company, valued at $1,216,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Rodney Christo sold 9,916 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $12.67, for a total transaction of $125,635.72. The disclosure for this sale can be found here. Insiders have sold a total of 443,153 shares of company stock valued at $5,390,863 in the last ninety days. Company insiders own 6.67% of the company’s stock.

Institutional Investors Weigh In On CCC Intelligent Solutions

Hedge funds have recently added to or reduced their stakes in the business. Dragoneer Investment Group LLC boosted its holdings in CCC Intelligent Solutions by 31.5% in the second quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company’s stock valued at $176,704,000 after purchasing an additional 3,809,200 shares during the last quarter. Norman Fields Gottscho Capital Management LLC boosted its holdings in CCC Intelligent Solutions by 34.5% in the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 397,489 shares of the company’s stock valued at $4,663,000 after purchasing an additional 101,885 shares during the last quarter. Adero Partners LLC boosted its holdings in CCC Intelligent Solutions by 118.5% in the third quarter. Adero Partners LLC now owns 5,780,925 shares of the company’s stock valued at $63,879,000 after purchasing an additional 3,135,650 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in CCC Intelligent Solutions by 45.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company’s stock valued at $1,824,000 after purchasing an additional 51,607 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of CCC Intelligent Solutions by 155.7% during the 3rd quarter. Barclays PLC now owns 109,020 shares of the company’s stock worth $1,205,000 after acquiring an additional 66,386 shares in the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Stock Down 0.5 %

CCC Intelligent Solutions stock opened at $11.24 on Wednesday. The business has a fifty day moving average of $11.89 and a two-hundred day moving average of $11.22. 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 cap of $7.38 billion, a P/E ratio of 562.28 and a beta of 0.72. CCC Intelligent Solutions has a twelve month low of $9.79 and a twelve month high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS) last posted its earnings results on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $238.48 million during the quarter, compared to analyst estimates of $237.41 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. CCC Intelligent Solutions’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 earnings per share. On average, analysts forecast that CCC Intelligent Solutions will post 0.17 earnings per share for the current fiscal year.

CCC Intelligent Solutions declared that its board has initiated a stock repurchase plan on Friday, December 20th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.