CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives $13.78 Consensus Price Target from Brokerages

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

A number of brokerages recently commented on CCCS. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $14.00 to $15.00 in a research note on Wednesday, November 13th. Bank of America assumed coverage on shares of CCC Intelligent Solutions in a research note on Tuesday, August 20th. They issued a “buy” rating and a $15.00 price target for the company. Barclays cut their price objective 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, JPMorgan Chase & Co. increased their target price on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday.

CCC Intelligent Solutions Price Performance

Shares of CCC Intelligent Solutions stock opened at $12.43 on Tuesday. The firm has a market cap of $7.77 billion, a PE ratio of 621.81, a price-to-earnings-growth ratio of 6.98 and a beta of 0.70. The company’s fifty day simple moving average is $11.47 and its two-hundred day simple moving average is $11.16. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions has a 12-month low of $9.79 and a 12-month high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 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 $238.48 million for the quarter, compared to the consensus estimate of $237.41 million. During the same quarter in the previous year, the business earned $0.03 EPS. CCC Intelligent Solutions’s revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts expect that CCC Intelligent Solutions will post 0.17 EPS for the current year.

Insider Buying and Selling

In other CCC Intelligent Solutions news, insider Mary Jo Prigge sold 2,489 shares of CCC Intelligent Solutions stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $12.00, for a total value of $29,868.00. Following the completion of the transaction, the insider now directly owns 97,268 shares of the company’s stock, valued at approximately $1,167,216. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Rodney Christo sold 75,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $11.80, for a total transaction of $885,000.00. The disclosure for this sale can be found here. Insiders have sold 443,153 shares of company stock worth $5,390,863 in the last 90 days. Insiders own 6.67% of the company’s stock.

Hedge Funds Weigh In On CCC Intelligent Solutions

Hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its holdings in shares of CCC Intelligent Solutions by 153.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock worth $32,000 after purchasing an additional 1,729 shares in the last quarter. CWM LLC boosted its position 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 valued at $34,000 after buying an additional 2,419 shares during the last quarter. Huntington National Bank increased its holdings in 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 buying an additional 1,599 shares in the last quarter. Marco Investment Management LLC purchased a new position in CCC Intelligent Solutions in the 3rd quarter worth about $113,000. Finally, KBC Group NV lifted its stake in 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 acquiring an additional 4,637 shares during the period. 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.