Brokerages Set CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Price Target at $12.06

Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Get Free Report) have earned an average rating of "Moderate Buy" from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $12.06.

A number of brokerages have recently issued reports on CCCS. The Goldman Sachs Group lowered their price objective on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Piper Sandler lowered their target price on CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Barclays lowered their target price on 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. Morgan Stanley lowered their target price 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. Finally, JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 price objective for the company. in a report on Monday, June 23rd.

Insiders Place Their Bets

In other news, Director Crescenzo Neil E. De bought 100,000 shares of the stock in a transaction dated Friday, May 23rd. The stock was bought at an average price of $8.54 per share, for a total transaction of $854,000.00. Following the purchase, the director directly owned 213,429 shares in the company, valued at $1,822,683.66. This trade represents a 88.16% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Young sold 30,000,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $9.08, for a total value of $272,400,000.00. Following the transaction, the director directly owned 1,562,344 shares of the company's stock, valued at approximately $14,186,083.52. This trade represents a 95.05% decrease in their position. The disclosure for this sale can be found here. 6.03% of the stock is currently owned by company insiders.

Institutional Trading of CCC Intelligent Solutions

Institutional investors and hedge funds have recently modified their holdings of the business. TD Private Client Wealth LLC purchased a new position in CCC Intelligent Solutions during the fourth quarter valued at $31,000. Quarry LP purchased a new position in CCC Intelligent Solutions during the fourth quarter valued at $36,000. Park Place Capital Corp lifted its position in CCC Intelligent Solutions by 47.6% during the second quarter. Park Place Capital Corp now owns 3,806 shares of the company's stock valued at $36,000 after purchasing an additional 1,228 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in CCC Intelligent Solutions during the first quarter valued at $37,000. Finally, AlphaQuest LLC purchased a new position in CCC Intelligent Solutions during the first quarter valued at $47,000. Institutional investors own 95.79% of the company's stock.

CCC Intelligent Solutions Stock Performance

Shares of NYSE:CCCS traded down $0.08 during trading on Wednesday, reaching $9.76. The stock had a trading volume of 4,049,005 shares, compared to its average volume of 5,466,505. CCC Intelligent Solutions has a 52 week low of $8.14 and a 52 week high of $12.88. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 488.24 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. The stock has a fifty day simple moving average of $9.20 and a two-hundred day simple moving average of $9.67.

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

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.