CCC Intelligent Solutions (NYSE:CCCS) Given "Outperform" Rating at Barrington Research

Key Points

• Barrington Research has reaffirmed its "outperform" rating for CCC Intelligent Solutions (NYSE:CCCS) with a target price of $14.00, suggesting a potential upside of 40% from the current stock price.
• Several analysts have issued mixed ratings recently, with JPMorgan Chase downgrading the stock to "underweight" with a target price of $10.00, while others like Goldman Sachs and Morgan Stanley lowered their price targets but maintained buy ratings.
• Insider activity includes Neil E. De Crescenzo purchasing 100,000 shares at $8.54 per share, indicating strong confidence in the stock, contrasted by Eric Wei selling a significant 30 million shares at $9.08 per share.

Barrington Research reaffirmed their outperform rating on shares of CCC Intelligent Solutions (NYSE:CCCS - Free Report) in a report released on Tuesday morning,Benzinga reports. Barrington Research currently has a $14.00 target price on the stock.

Several other brokerages also recently issued reports on CCCS. Morgan Stanley decreased their price target on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. The Goldman Sachs Group cut their price objective on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Piper Sandler cut their price objective on CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Barclays cut their price objective on CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. cut CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 price objective on the stock. in a research report on Monday, June 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $12.07.

CCC Intelligent Solutions Price Performance

Shares of CCCS traded up $0.06 during trading hours on Tuesday, hitting $9.73. 19,333,473 shares of the company were exchanged, compared to its average volume of 7,495,337. The firm's fifty day moving average is $9.35 and its 200 day moving average is $9.57. The company has a market cap of $6.41 billion, a price-to-earnings ratio of 486.74 and a beta of 0.74. 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 fifty-two week low of $8.14 and a fifty-two week high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The firm had revenue of $260.45 million for the quarter, compared to analyst estimates of $256.21 million. During the same period last year, the firm posted $0.09 earnings per share. The business's revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities analysts anticipate that CCC Intelligent Solutions will post 0.17 earnings per share for the current fiscal year.

Insider Activity

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 5,302 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $9.76, for a total value of $51,747.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lauren Young sold 30,000,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $9.08, for a total value of $272,400,000.00. Following the completion of the transaction, the director owned 1,562,344 shares in the company, valued at $14,186,083.52. This represents a 95.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,005,302 shares of company stock worth $544,851,748. 6.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On CCC Intelligent Solutions

Several institutional investors and hedge funds have recently bought and sold shares of CCCS. T. Rowe Price Investment Management Inc. raised its stake in CCC Intelligent Solutions by 6.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 72,967,671 shares of the company's stock valued at $658,899,000 after buying an additional 4,100,954 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of CCC Intelligent Solutions by 9.9% in the first quarter. Vanguard Group Inc. now owns 56,491,007 shares of the company's stock worth $510,114,000 after acquiring an additional 5,103,835 shares during the period. Principal Financial Group Inc. grew its holdings in shares of CCC Intelligent Solutions by 1.4% in the first quarter. Principal Financial Group Inc. now owns 27,303,495 shares of the company's stock worth $246,551,000 after acquiring an additional 363,944 shares during the period. Brown Advisory Inc. grew its holdings in shares of CCC Intelligent Solutions by 30.7% in the first quarter. Brown Advisory Inc. now owns 18,346,792 shares of the company's stock worth $165,672,000 after acquiring an additional 4,313,296 shares during the period. Finally, Bessemer Group Inc. grew its holdings in shares of CCC Intelligent Solutions by 49.5% in the second quarter. Bessemer Group Inc. now owns 14,805,779 shares of the company's stock worth $139,321,000 after acquiring an additional 4,903,086 shares during the period. 95.79% of the stock is currently owned by institutional investors.

CCC Intelligent Solutions Company Profile

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.