Barrington Research Reiterates Outperform Rating for CCC Intelligent Solutions (NYSE:CCCS)

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.

Barrington Research reiterated their outperform rating on shares of CCC Intelligent Solutions (NYSE:CCCS - Free Report) in a report released on Monday,Benzinga reports. The firm currently has a $14.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the company. 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 research note on Friday, August 1st. The Goldman Sachs Group lowered their target price on shares of 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. Piper Sandler reduced their price target on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. 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 research note on Monday, June 23rd. Finally, Morgan Stanley cut their price target 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, CCC Intelligent Solutions currently has an average rating of "Hold" and a consensus target price of $12.07.

CCC Intelligent Solutions Trading Down 1.3%

CCC Intelligent Solutions stock traded down $0.13 during trading on Monday, reaching $9.58. 552,672 shares of the company were exchanged, compared to its average volume of 7,560,869. The stock's 50 day simple moving average is $9.46 and its two-hundred day simple moving average is $9.53. The company has a market capitalization of $6.23 billion, a P/E ratio of 479.49 and a beta of 0.74. 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 has a 52-week low of $8.14 and a 52-week high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $260.45 million for the quarter, compared to analyst estimates of $256.21 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. CCC Intelligent Solutions's revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 EPS. On average, equities research analysts expect that CCC Intelligent Solutions will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Crescenzo Neil E. De acquired 100,000 shares of the stock in a transaction dated Friday, May 23rd. The stock was acquired at an average cost of $8.54 per share, with a total value of $854,000.00. Following the completion of the transaction, the director owned 213,429 shares in the company, valued at $1,822,683.66. This represents a 88.16% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Timothy A. Welsh bought 100,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were purchased at an average price of $9.03 per share, for a total transaction of $903,000.00. Following the completion of the purchase, the insider directly owned 168,472 shares of the company's stock, valued at approximately $1,521,302.16. This trade represents a 146.05% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 60,005,302 shares of company stock worth $544,851,748 over the last ninety days. Company insiders own 6.03% of the company's stock.

Institutional Investors Weigh In On CCC Intelligent Solutions

Several institutional investors have recently modified their holdings of CCCS. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in CCC Intelligent Solutions in the second quarter valued at $25,000. Quarry LP purchased a new position in shares of CCC Intelligent Solutions in the 4th quarter valued at about $36,000. Park Place Capital Corp increased its holdings in shares of CCC Intelligent Solutions by 47.6% in the 2nd quarter. Park Place Capital Corp now owns 3,806 shares of the company's stock valued at $36,000 after acquiring an additional 1,228 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of CCC Intelligent Solutions during the 1st quarter worth about $37,000. Finally, AlphaQuest LLC purchased a new stake in CCC Intelligent Solutions during the first quarter worth approximately $47,000. 95.79% of the stock is owned by hedge funds and other institutional investors.

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.