CCC Intelligent Solutions (NYSE:CCCS) Receives "Outperform" Rating from Barrington Research

Key Points

• Barrington Research has restated an "outperform" rating for CCC Intelligent Solutions with a target price of $14.00, indicating a potential upside of 43.22% from the current stock price.
• Other analysts have mixed opinions, with Goldman Sachs lowering its target to $11.50 while JPMorgan Chase set it at $10.00, reflecting a range of ratings from sell to buy.
• As of the latest quarter, CCC Intelligent Solutions reported revenue of $260.45 million, up 12.0% year-over-year, exceeding analysts' estimates.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report)'s stock had its "outperform" rating restated by equities research analysts at Barrington Research in a report released on Monday,Benzinga reports. They presently have a $14.00 target price on the stock. Barrington Research's price objective indicates a potential upside of 43.22% from the company's current price.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group reduced their price objective on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Morgan Stanley dropped their target price on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 target price on the stock. in a report on Monday, June 23rd. Piper Sandler dropped their target price on 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, Barclays raised their target price on CCC Intelligent Solutions from $11.00 to $12.00 and gave the stock an "equal weight" rating in a report on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $12.07.

CCC Intelligent Solutions Stock Up 0.5%

Shares of CCCS stock traded up $0.05 during mid-day trading on Monday, hitting $9.78. The stock had a trading volume of 1,248,870 shares, compared to its average volume of 7,451,753. CCC Intelligent Solutions has a 12-month low of $8.14 and a 12-month high of $12.88. The firm has a market capitalization of $6.44 billion, a P/E ratio of 488.99 and a beta of 0.74. The firm's 50-day moving average is $9.37 and its two-hundred day moving average is $9.54. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The company had revenue of $260.45 million for the quarter, compared to the consensus estimate of $256.21 million. During the same quarter last year, the company earned $0.09 earnings per share. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. On average, analysts predict that CCC Intelligent Solutions will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Crescenzo Neil E. De acquired 100,000 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average price of $8.54 per share, for a total transaction of $854,000.00. Following the acquisition, the director owned 213,429 shares of the company's stock, valued at $1,822,683.66. This represents a 88.16% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $51,747.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,005,302 shares of company stock valued at $544,851,748. 6.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. grew its stake in CCC Intelligent Solutions by 6.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 72,967,671 shares of the company's stock worth $658,899,000 after purchasing an additional 4,100,954 shares in the last quarter. Vanguard Group Inc. grew its stake in CCC Intelligent Solutions by 9.9% during the 1st quarter. Vanguard Group Inc. now owns 56,491,007 shares of the company's stock worth $510,114,000 after purchasing an additional 5,103,835 shares in the last quarter. Principal Financial Group Inc. grew its stake in 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 worth $246,551,000 after purchasing an additional 363,944 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of CCC Intelligent Solutions by 30.7% during the 1st quarter. Brown Advisory Inc. now owns 18,346,792 shares of the company's stock worth $165,672,000 after acquiring an additional 4,313,296 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of CCC Intelligent Solutions by 49.5% during the 2nd quarter. Bessemer Group Inc. now owns 14,805,779 shares of the company's stock worth $139,321,000 after acquiring an additional 4,903,086 shares in the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

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.

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