Brokerages Set CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) PT at $12.57

Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Get Free Report) have received an average rating of "Moderate Buy" from the eight analysts that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $12.19.

A number of research firms recently commented on CCCS. Piper Sandler dropped their price target on CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. Barrington Research reiterated an "outperform" rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Wednesday. The Goldman Sachs Group cut their target price on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating for the company in a research note on Wednesday. Finally, Morgan Stanley decreased their price target on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th.

Insider Activity at CCC Intelligent Solutions

In other news, Director Eric Wei sold 42,000,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.32, for a total value of $433,440,000.00. Following the completion of the sale, the director now owns 2,258,343 shares of the company's stock, valued at approximately $23,306,099.76. The trade was a 94.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Rodney Christo sold 20,077 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total value of $204,785.40. The disclosure for this sale can be found here. Insiders have sold a total of 42,087,456 shares of company stock valued at $434,240,401 over the last 90 days. 6.03% of the stock is owned by insiders.

Hedge Funds Weigh In On CCC Intelligent Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its holdings in shares of CCC Intelligent Solutions by 6.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 68,866,717 shares of the company's stock valued at $807,807,000 after acquiring an additional 4,060,284 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of CCC Intelligent Solutions by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 51,387,172 shares of the company's stock worth $602,772,000 after purchasing an additional 847,334 shares during the period. Principal Financial Group Inc. boosted its stake in shares of CCC Intelligent Solutions by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 27,303,495 shares of the company's stock valued at $246,551,000 after purchasing an additional 363,944 shares in the last quarter. 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 buying an additional 4,313,296 shares during the period. Finally, Conestoga Capital Advisors LLC raised its stake in CCC Intelligent Solutions by 1.5% in the first quarter. Conestoga Capital Advisors LLC now owns 12,439,365 shares of the company's stock worth $112,327,000 after buying an additional 178,330 shares in the last quarter. 95.79% of the stock is owned by institutional investors.

CCC Intelligent Solutions Stock Performance

NYSE:CCCS traded up $0.66 during mid-day trading on Friday, reaching $8.96. 10,282,667 shares of the company's stock were exchanged, compared to its average volume of 4,798,897. CCC Intelligent Solutions has a one year low of $8.14 and a one year high of $12.88. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The business's fifty day simple moving average is $9.01 and its two-hundred day simple moving average is $10.61. The firm has a market capitalization of $5.90 billion, a PE ratio of 447.97 and a beta of 0.76.

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

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.