JPMorgan Chase & Co. Downgrades CCC Intelligent Solutions (NYSE:CCCS) to Underweight

JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions (NYSE:CCCS - Free Report) from a neutral rating to an underweight rating in a research note released on Monday, MarketBeat.com reports. They currently have $10.00 price target on the stock.

CCCS has been the subject of several other reports. The Goldman Sachs Group cut 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. Morgan Stanley cut their price target on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Barclays reduced their price target on CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Piper Sandler dropped their price objective 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, Barrington Research reaffirmed an "outperform" rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $12.06.

CCC Intelligent Solutions Stock Performance

CCCS stock traded up $0.14 during mid-day trading on Monday, hitting $9.31. The company had a trading volume of 5,862,130 shares, compared to its average volume of 5,463,029. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The firm has a market cap of $6.14 billion, a PE ratio of 465.73 and a beta of 0.73. CCC Intelligent Solutions has a 12 month low of $8.14 and a 12 month high of $12.88. The stock's fifty day moving average price is $8.96 and its two-hundred day moving average price is $9.95.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The company had revenue of $251.57 million during the quarter, compared to analyst estimates of $249.87 million. During the same quarter last year, the business posted $0.09 EPS. CCC Intelligent Solutions's quarterly revenue was up 10.7% compared to the same quarter last year. On average, analysts forecast that CCC Intelligent Solutions will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider Timothy A. Welsh bought 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were bought at an average price of $9.03 per share, for a total transaction of $903,000.00. Following the transaction, the insider now directly owns 168,472 shares in the company, valued at $1,521,302.16. This trade represents a 146.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eileen Schloss sold 27,478 shares of the business's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $8.60, for a total transaction of $236,310.80. Following the completion of the sale, the director now directly owns 26,569 shares of the company's stock, valued at $228,493.40. This represents a 50.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,027,478 shares of company stock worth $545,036,311 over the last three months. 6.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CCCS. TD Private Client Wealth LLC bought a new position in CCC Intelligent Solutions during the 4th quarter worth approximately $31,000. Quarry LP purchased a new stake in shares of CCC Intelligent Solutions during the fourth quarter valued at approximately $36,000. Banque Cantonale Vaudoise bought a new position in shares of CCC Intelligent Solutions in the first quarter worth approximately $37,000. AlphaQuest LLC bought a new position in shares of CCC Intelligent Solutions in the first quarter worth approximately $47,000. Finally, First Horizon Advisors Inc. increased its stake in shares of CCC Intelligent Solutions by 90.0% in the fourth quarter. First Horizon Advisors Inc. now owns 5,922 shares of the company's stock worth $69,000 after buying an additional 2,805 shares during the period. Hedge funds and other 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.