CCC Intelligent Solutions (NYSE:CCCS) Given New $11.00 Price Target at Barclays

CCC Intelligent Solutions (NYSE:CCCS - Free Report) had its target price cut by Barclays from $13.00 to $11.00 in a research note released on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts have also commented on CCCS. Barrington Research reiterated an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. JPMorgan Chase & Co. lowered 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 note on Wednesday, February 26th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $11.00 price target (down from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, CCC Intelligent Solutions currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.57.

CCC Intelligent Solutions Stock Down 1.1 %

NYSE:CCCS traded down $0.10 during trading hours on Monday, hitting $8.67. 5,520,858 shares of the stock traded hands, compared to its average volume of 4,635,604. CCC Intelligent Solutions has a fifty-two week low of $8.14 and a fifty-two week high of $12.88. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 433.72 and a beta of 0.77. The firm has a 50 day moving average price of $9.42 and a 200 day moving average price of $10.78.

CCC Intelligent Solutions announced that its Board of Directors has approved a share buyback plan on Friday, December 20th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to reacquire up to 4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insider Transactions at CCC Intelligent Solutions

In other news, CAO Rodney Christo sold 20,077 shares of CCC Intelligent Solutions stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.20, for a total value of $204,785.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eileen Schloss sold 27,478 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $8.60, for a total value 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 position. The disclosure for this sale can be found here. Insiders sold a total of 42,087,456 shares of company stock valued at $434,240,401 over the last three months. Corporate insiders own 6.67% of the company's stock.

Institutional Trading of CCC Intelligent Solutions

A number of large investors have recently modified their holdings of the business. Eagle Bay Advisors LLC purchased a new stake in CCC Intelligent Solutions in the fourth quarter worth $25,000. UMB Bank n.a. purchased a new position in CCC Intelligent Solutions in the fourth quarter worth about $28,000. TD Private Client Wealth LLC purchased a new stake in shares of CCC Intelligent Solutions in the 4th quarter worth $31,000. Quarry LP purchased a new position in CCC Intelligent Solutions during the fourth quarter valued at approximately $36,000. Finally, GAMMA Investing LLC boosted its stake in shares of CCC Intelligent Solutions by 286.9% in the fourth quarter. GAMMA Investing LLC now owns 3,343 shares of the company's stock worth $39,000 after acquiring an additional 2,479 shares during the period. 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.