CCC Intelligent Solutions (NYSE:CCCS) Price Target Raised to $14.00

by · The Markets Daily

CCC Intelligent Solutions (NYSE:CCCS – Free Report) had its price target hoisted by JPMorgan Chase & Co. from $13.00 to $14.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the company. Barrington Research reiterated an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Bank of America started coverage on CCC Intelligent Solutions in a research note on Tuesday, August 20th. They set a “buy” rating and a $15.00 target price for the company. Barclays reduced their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Finally, Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $14.00 to $15.00 in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $13.89.

Get Our Latest Analysis on CCC Intelligent Solutions

CCC Intelligent Solutions Stock Down 1.0 %

CCCS stock opened at $12.34 on Monday. CCC Intelligent Solutions has a 52 week low of $9.79 and a 52 week high of $12.88. The business has a 50-day simple moving average of $11.54 and a 200 day simple moving average of $11.17. 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 company has a market cap of $7.72 billion, a PE ratio of 617.00, a price-to-earnings-growth ratio of 6.98 and a beta of 0.70.

CCC Intelligent Solutions (NYSE:CCCS – Get Free Report) last issued its earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $238.48 million during the quarter, compared to analysts’ expectations of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 EPS. Sell-side analysts anticipate that CCC Intelligent Solutions will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Githesh Ramamurthy sold 9,348 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $11.50, for a total value of $107,502.00. Following the completion of the sale, the insider now owns 4,798,040 shares of the company’s stock, valued at approximately $55,177,460. This represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mary Jo Prigge sold 19,276 shares of CCC Intelligent Solutions stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $12.67, for a total value of $244,226.92. Following the completion of the transaction, the insider now directly owns 97,268 shares in the company, valued at approximately $1,232,385.56. This represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 443,153 shares of company stock worth $5,390,863 in the last ninety days. Company insiders own 6.67% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its position in shares of CCC Intelligent Solutions by 153.0% during the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock worth $32,000 after buying an additional 1,729 shares during the period. CWM LLC grew its holdings in CCC Intelligent Solutions by 352.6% during the 2nd quarter. CWM LLC now owns 3,105 shares of the company’s stock worth $34,000 after acquiring an additional 2,419 shares during the period. Huntington National Bank raised its position in shares of CCC Intelligent Solutions by 37.6% in the 3rd quarter. Huntington National Bank now owns 5,852 shares of the company’s stock worth $65,000 after acquiring an additional 1,599 shares in the last quarter. Marco Investment Management LLC acquired a new position in shares of CCC Intelligent Solutions in the 3rd quarter valued at about $113,000. Finally, KBC Group NV boosted its position in shares of CCC Intelligent Solutions by 81.7% during the 3rd quarter. KBC Group NV now owns 10,314 shares of the company’s stock valued at $114,000 after purchasing an additional 4,637 shares in the last quarter. Institutional investors own 95.79% of the company’s stock.

CCC Intelligent Solutions Company Profile

(Get Free Report)

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.

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