CCC Intelligent Solutions' (CCCS) Neutral Rating Reaffirmed at Piper Sandler

Key Points

• Piper Sandler has reaffirmed a "neutral" rating for CCC Intelligent Solutions, with a price objective of $10.00, suggesting a potential upside of 4.22% from the last closing price.
• Institutional investors own 95.79% of CCC Intelligent Solutions, reflecting significant investor interest and confidence in the company's future prospects.
• In the last quarter, insider transactions included a substantial sale of 30 million shares by a director, indicating active management trading amid the stock's performance fluctuations.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report)'s stock had its "neutral" rating reiterated by research analysts at Piper Sandler in a note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a $10.00 price objective on the stock. Piper Sandler's target price indicates a potential upside of 2.99% from the company's previous close.

CCCS has been the subject of several other reports. Barclays lifted their target price on shares of CCC Intelligent Solutions from $11.00 to $12.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 target price for the company. in a report on Monday, June 23rd. The Goldman Sachs Group decreased their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating for the company in a report on Wednesday, May 7th. Barrington Research restated an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Monday, August 4th. Finally, Morgan Stanley decreased their price objective 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $12.21.

CCC Intelligent Solutions Price Performance

CCCS stock opened at $9.71 on Thursday. The firm has a 50 day moving average price of $9.54 and a 200-day moving average price of $9.45. 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 $6.32 billion, a price-to-earnings ratio of 485.74 and a beta of 0.74. 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 (NYSE:CCCS - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm had revenue of $260.45 million during the quarter, compared to analyst estimates of $256.21 million. During the same period last year, the business earned $0.09 earnings per share. The business's revenue was up 12.0% on a year-over-year basis. Equities research analysts forecast that CCC Intelligent Solutions will post 0.17 EPS for the current fiscal year.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Eric Wei sold 30,000,000 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $9.87, for a total transaction of $296,100,000.00. Following the completion of the sale, the director directly owned 866,345 shares in the company, valued at approximately $8,550,825.15. The trade was a 97.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Rodney Christo sold 5,302 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $9.76, for a total transaction of $51,747.52. The disclosure for this sale can be found here. Insiders have sold a total of 120,005,302 shares of company stock valued at $1,137,051,748 in the last quarter. 6.03% of the stock is currently owned by corporate insiders.

Institutional Trading of CCC Intelligent Solutions

Several large investors have recently modified their holdings of the company. Captrust Financial Advisors grew its holdings in shares of CCC Intelligent Solutions by 81.6% in the second quarter. Captrust Financial Advisors now owns 35,928 shares of the company's stock worth $338,000 after acquiring an additional 16,142 shares during the period. Vident Advisory LLC bought a new stake in shares of CCC Intelligent Solutions in the second quarter worth $132,000. Two Sigma Securities LLC bought a new stake in shares of CCC Intelligent Solutions in the second quarter worth $845,000. Teza Capital Management LLC purchased a new stake in shares of CCC Intelligent Solutions in the 2nd quarter worth $155,000. Finally, Palisade Capital Management LP increased its stake in shares of CCC Intelligent Solutions by 14.3% in the 2nd quarter. Palisade Capital Management LP now owns 3,778,130 shares of the company's stock worth $35,552,000 after purchasing an additional 472,771 shares in the last quarter. Institutional investors own 95.79% of the company's stock.

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.