CCC Intelligent Solutions (NYSE:CCCS) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays has increased its price target for CCC Intelligent Solutions from $11.00 to $12.00, suggesting a potential upside of 23.10% from the current stock price.
• Despite mixed ratings from analysts, the consensus rating for CCC Intelligent Solutions remains a "Hold," with a current average target price of approximately $12.07.
• Significant insider transactions were reported, with multiple directors selling 30 million shares each, marking a 95.05% decrease in their ownership stake.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) had its price target upped by analysts at Barclays from $11.00 to $12.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's price objective points to a potential upside of 23.10% from the stock's previous close.

Other research analysts also recently issued research reports about the company. Morgan Stanley decreased their price objective 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. cut 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. Piper Sandler cut their target price on 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. Barrington Research reissued an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Tuesday. Finally, The Goldman Sachs Group cut their price objective on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $12.07.

CCC Intelligent Solutions Trading Up 0.8%

NYSE CCCS opened at $9.75 on Friday. The stock's 50-day simple moving average is $9.35 and its two-hundred day simple moving average is $9.57. CCC Intelligent Solutions has a twelve month low of $8.14 and a twelve month high of $12.88. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 497.90 and a beta of 0.74.

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

Insider Transactions at CCC Intelligent Solutions

In other news, Director Eric Wei sold 30,000,000 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $9.08, for a total value of $272,400,000.00. Following the sale, the director directly owned 1,562,344 shares of the company's stock, valued at $14,186,083.52. The trade was a 95.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lauren Young sold 30,000,000 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $9.08, for a total value of $272,400,000.00. Following the completion of the sale, the director directly owned 1,562,344 shares in the company, valued at approximately $14,186,083.52. This represents a 95.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.03% of the stock is currently owned by corporate insiders.

Institutional Trading of CCC Intelligent Solutions

A number of hedge funds have recently made changes to their positions in CCCS. Quarry LP bought a new stake in shares of CCC Intelligent Solutions in the 4th quarter worth approximately $36,000. Park Place Capital Corp boosted its position 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 worth $36,000 after purchasing an additional 1,228 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of CCC Intelligent Solutions in the 1st quarter worth approximately $37,000. AlphaQuest LLC bought a new stake in shares of CCC Intelligent Solutions in the 1st quarter worth approximately $47,000. Finally, SVB Wealth LLC bought a new stake in shares of CCC Intelligent Solutions in the 1st quarter worth approximately $60,000. 95.79% of the stock is owned by institutional investors.

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.

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