CCC Intelligent Solutions (NYSE:CCCS) PT Lowered to $13.00 at JPMorgan Chase & Co.

CCC Intelligent Solutions (NYSE:CCCS) had its target price reduced by analysts at JPMorgan Chase & Co. from $14.00 to $13.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 18.72% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Tuesday. Barclays reduced their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday. Jefferies Financial Group reduced their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Bank of America began coverage on shares of CCC Intelligent Solutions in a research note on Tuesday, August 20th. They issued a “buy” rating and a $15.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.56.

CCC Intelligent Solutions Price Performance

Shares of CCCS remained flat at $10.95 during trading hours on Tuesday. 2,147,970 shares of the company were exchanged, compared to its average volume of 3,433,690. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. CCC Intelligent Solutions has a 1-year low of $9.79 and a 1-year high of $12.68. The company’s 50 day moving average is $10.84 and its 200-day moving average is $11.02. The company has a market cap of $6.81 billion, a P/E ratio of -52.14, a P/E/G ratio of 6.26 and a beta of 0.62.

CCC Intelligent Solutions (NYSE:CCCS) last announced 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 firm had revenue of $238.48 million during the quarter, compared to analyst estimates of $237.41 million. CCC Intelligent Solutions had a net margin of 2.36% and a return on equity of 5.16%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 EPS. As a group, equities analysts expect that CCC Intelligent Solutions will post 0.16 earnings per share for the current year.

Insider Transactions at CCC Intelligent Solutions

In related news, insider Brian Herb sold 20,887 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $10.24, for a total value of $213,882.88. Following the completion of the sale, the insider now directly owns 217,872 shares in the company, valued at approximately $2,231,009.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other CCC Intelligent Solutions news, insider Michael John Silva sold 29,022 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $10.75, for a total value of $311,986.50. Following the transaction, the insider now directly owns 30,172 shares of the company’s stock, valued at $324,349. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian Herb sold 20,887 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $10.24, for a total transaction of $213,882.88. Following the completion of the transaction, the insider now directly owns 217,872 shares in the company, valued at approximately $2,231,009.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 238,387 shares of company stock worth $2,414,009 in the last three months. Insiders own 6.67% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Chicago Partners Investment Group LLC increased its holdings in shares of CCC Intelligent Solutions by 15.5% during the third quarter. Chicago Partners Investment Group LLC now owns 14,596 shares of the company’s stock worth $162,000 after purchasing an additional 1,957 shares during the period. Conestoga Capital Advisors LLC increased its stake in CCC Intelligent Solutions by 18.7% in the third quarter. Conestoga Capital Advisors LLC now owns 9,508,085 shares of the company’s stock valued at $105,064,000 after acquiring an additional 1,498,200 shares during the last quarter. New York State Common Retirement Fund increased its stake in CCC Intelligent Solutions by 1.6% in the third quarter. New York State Common Retirement Fund now owns 2,371,135 shares of the company’s stock valued at $26,201,000 after acquiring an additional 36,867 shares during the last quarter. Stephens Inc. AR increased its stake in CCC Intelligent Solutions by 47.1% in the third quarter. Stephens Inc. AR now owns 25,296 shares of the company’s stock valued at $280,000 after acquiring an additional 8,103 shares during the last quarter. Finally, Norris Perne & French LLP MI increased its stake in CCC Intelligent Solutions by 10.3% in the third quarter. Norris Perne & French LLP MI now owns 341,367 shares of the company’s stock valued at $3,772,000 after acquiring an additional 31,950 shares during the last quarter. 95.79% of the stock is owned by 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.