CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives Average Recommendation of "Moderate Buy" from Brokerages

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eight analysts that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $12.19.

CCCS has been the subject of a number of recent research reports. Barclays dropped 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. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Morgan Stanley reduced their target price on shares of 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. Piper Sandler lowered their target price on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, Barrington Research reiterated an "outperform" rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Wednesday, May 7th.

CCC Intelligent Solutions Trading Down 0.8%

Shares of CCCS stock opened at $9.34 on Friday. CCC Intelligent Solutions has a 52-week low of $8.14 and a 52-week high of $12.88. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 467.23 and a beta of 0.72. 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 firm has a fifty day moving average of $8.93 and a 200-day moving average of $10.02.

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 for the quarter, meeting analysts' consensus estimates of $0.08. The business had revenue of $251.57 million for the quarter, compared to analysts' expectations of $249.87 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. On average, equities research analysts forecast that CCC Intelligent Solutions will post 0.17 earnings per share for the current fiscal year.

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 5,846 shares of the business'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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eileen Schloss sold 27,478 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $8.60, for a total transaction of $236,310.80. Following the sale, the director now directly owns 26,569 shares in the company, 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. Over the last quarter, insiders have sold 60,033,324 shares of company stock worth $545,089,802. Insiders own 6.03% of the company's stock.

Institutional Investors Weigh In On CCC Intelligent Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC Asset Management Inc boosted its holdings in CCC Intelligent Solutions by 5.9% in the fourth quarter. CIBC Asset Management Inc now owns 19,046 shares of the company's stock valued at $223,000 after acquiring an additional 1,054 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of CCC Intelligent Solutions by 1.0% in the 4th quarter. Arizona State Retirement System now owns 117,507 shares of the company's stock valued at $1,378,000 after purchasing an additional 1,150 shares during the last quarter. Amalgamated Bank boosted its stake in shares of CCC Intelligent Solutions by 4.9% in the 1st quarter. Amalgamated Bank now owns 24,885 shares of the company's stock valued at $225,000 after purchasing an additional 1,163 shares during the last quarter. Treasurer of the State of North Carolina grew its position in shares of CCC Intelligent Solutions by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 198,807 shares of the company's stock worth $2,332,000 after buying an additional 1,250 shares during the period. Finally, Townsquare Capital LLC raised its stake in shares of CCC Intelligent Solutions by 6.5% during the fourth quarter. Townsquare Capital LLC now owns 24,338 shares of the company's stock worth $285,000 after buying an additional 1,475 shares during the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.