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

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) has been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $13.89.

A number of research analysts recently commented on CCCS shares. JPMorgan Chase & Co. upped their price objective on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Morgan Stanley raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $14.00 to $15.00 in a research note on Wednesday, November 13th. Piper Sandler reissued a “neutral” rating and set a $13.00 price objective on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th. Barclays decreased their target price on shares of 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 target price on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th.

CCC Intelligent Solutions Stock Down 0.6 %

Shares of CCCS opened at $11.73 on Friday. CCC Intelligent Solutions has a 52-week low of $9.79 and a 52-week high of $12.88. 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 stock has a fifty day simple moving average of $11.83 and a two-hundred day simple moving average of $11.21. The company has a market capitalization of $7.34 billion, a PE ratio of 586.79, a price-to-earnings-growth ratio of 6.80 and a beta of 0.71.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings data on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm 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%. CCC Intelligent Solutions’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $0.03 earnings per share. As a group, equities analysts forecast that CCC Intelligent Solutions will post 0.17 EPS for the current year.

CCC Intelligent Solutions announced that its board has authorized a share repurchase program on Friday, December 20th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity at CCC Intelligent Solutions

In other news, Director Crescenzo Neil E. De acquired 100,000 shares of CCC Intelligent Solutions stock in a transaction dated Friday, December 20th. The shares were acquired at an average cost of $12.16 per share, for a total transaction of $1,216,000.00. Following the acquisition, the director now owns 100,000 shares of the company’s stock, valued at $1,216,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Rodney Christo sold 9,916 shares of the business’s stock in a transaction on Monday, November 25th. The stock was 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. Over the last three months, insiders sold 443,153 shares of company stock worth $5,390,863. Company insiders own 6.67% of the company’s stock.

Hedge Funds Weigh In On CCC Intelligent Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCCS. Advisors Asset Management Inc. grew its holdings 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 purchasing an additional 1,729 shares during the last quarter. Huntington National Bank boosted 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 valued at $65,000 after purchasing an additional 1,599 shares during the period. Marco Investment Management LLC purchased a new position in CCC Intelligent Solutions during the 3rd quarter worth approximately $113,000. KBC Group NV increased its position in CCC Intelligent Solutions by 81.7% during the third quarter. KBC Group NV now owns 10,314 shares of the company’s stock worth $114,000 after buying an additional 4,637 shares during the period. Finally, Tidal Investments LLC purchased a new stake in CCC Intelligent Solutions in the third quarter valued at approximately $117,000. 95.79% of the stock is owned by institutional investors and hedge funds.

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.