Barrington Research Reiterates "Outperform" Rating for CCC Intelligent Solutions (NYSE:CCCS)

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report)'s stock had its "outperform" rating reissued by equities research analysts at Barrington Research in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $14.00 price target on the stock. Barrington Research's price target points to a potential upside of 53.76% from the company's current price.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and cut their price target for the company from $14.00 to $11.00 in a research report on Wednesday, February 26th. Barclays dropped their target price on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Piper Sandler reiterated a "neutral" rating and set a $11.00 target price (down from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Finally, Morgan Stanley dropped their target price on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $12.19.

CCC Intelligent Solutions Price Performance

CCCS traded up $0.10 during trading on Wednesday, reaching $9.11. The stock had a trading volume of 2,434,375 shares, compared to its average volume of 4,835,592. The stock has a market cap of $6.00 billion, a PE ratio of 455.48 and a beta of 0.76. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. CCC Intelligent Solutions has a one year low of $8.14 and a one year high of $12.88. The business has a 50-day moving average of $8.97 and a 200-day moving average of $10.57.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business had revenue of $251.57 million during the quarter, compared to analyst estimates of $249.87 million. During the same period in the prior year, the business posted $0.09 earnings per share. The company's revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts anticipate that CCC Intelligent Solutions will post 0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 5,846 shares of the firm's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $9.15, for a total value of $53,490.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eileen Schloss sold 27,478 shares of the firm's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $8.60, for a total transaction of $236,310.80. Following the completion of the sale, the director now owns 26,569 shares of the company's stock, valued at $228,493.40. This trade represents a 50.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,087,456 shares of company stock worth $434,240,401 over the last three months. Company insiders own 6.03% of the company's stock.

Hedge Funds Weigh In On CCC Intelligent Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in shares of CCC Intelligent Solutions by 4,172.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,837,354 shares of the company's stock valued at $115,394,000 after acquiring an additional 9,607,085 shares in the last quarter. Vanguard Group Inc. increased its position in shares of CCC Intelligent Solutions by 9.9% during the first quarter. Vanguard Group Inc. now owns 56,491,007 shares of the company's stock valued at $510,114,000 after acquiring an additional 5,103,835 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of CCC Intelligent Solutions during the fourth quarter valued at approximately $58,080,000. Brown Advisory Inc. increased its position in shares of CCC Intelligent Solutions by 30.7% during the first quarter. Brown Advisory Inc. now owns 18,346,792 shares of the company's stock valued at $165,672,000 after acquiring an additional 4,313,296 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of CCC Intelligent Solutions during the fourth quarter valued at approximately $50,032,000. Institutional investors own 95.79% of the company's stock.

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.