CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives $13.38 Average PT from Brokerages

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) has received an average rating of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $13.14.

A number of equities research analysts have recently issued reports on CCCS shares. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $14.00 to $11.00 in a research note on Wednesday, February 26th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $11.00 price objective (down previously from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th.

Insider Activity at CCC Intelligent Solutions

In related news, CAO Rodney Christo sold 20,077 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.20, for a total transaction of $204,785.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Crescenzo Neil E. De purchased 100,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average price of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the acquisition, the director now directly owns 100,000 shares in the company, valued at $1,216,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC bought a new position in CCC Intelligent Solutions in the 4th quarter worth $25,000. UMB Bank n.a. bought a new position in CCC Intelligent Solutions in the 4th quarter worth $28,000. TD Private Client Wealth LLC bought a new position in CCC Intelligent Solutions in the 4th quarter worth $31,000. Advisors Asset Management Inc. raised its holdings in 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. Finally, Quarry LP bought a new position in CCC Intelligent Solutions in the 4th quarter worth $36,000. 95.79% of the stock is currently owned by institutional investors.

CCC Intelligent Solutions Price Performance

CCCS stock opened at $9.19 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. CCC Intelligent Solutions has a one year low of $8.83 and a one year high of $12.88. The stock has a market cap of $6.04 billion, a PE ratio of 459.73 and a beta of 0.73. The firm has a 50 day simple moving average of $10.53 and a two-hundred day simple moving average of $11.10.

CCC Intelligent Solutions announced that its board has approved a share buyback plan on Friday, December 20th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to repurchase up to 4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

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.