CCC Intelligent Solutions (NYSE:CCCS) Downgraded to "Underweight" Rating by JPMorgan Chase & Co.

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

Several other brokerages have also recently issued reports on CCCS. Barrington Research reaffirmed an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday, May 7th. Piper Sandler reduced their price objective 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. Barclays lowered their target price 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. Morgan Stanley cut their target price on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group reduced their price objective on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $12.06.

CCC Intelligent Solutions Price Performance

CCCS traded up $0.11 during trading on Monday, reaching $9.33. 9,662,299 shares of the company traded hands, compared to its average volume of 7,788,228. The company has a market cap of $6.15 billion, a P/E ratio of 466.73 and a beta of 0.72. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. CCC Intelligent Solutions has a 12-month low of $8.14 and a 12-month high of $12.88. The firm has a fifty day simple moving average of $8.94 and a 200 day simple moving average of $9.96.

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

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De bought 100,000 shares of the company's stock in a transaction on Friday, May 23rd. The shares were bought at an average cost of $8.54 per share, for a total transaction of $854,000.00. Following the acquisition, the director now directly owns 213,429 shares in the company, valued at approximately $1,822,683.66. The trade was a 88.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Young sold 30,000,000 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $9.08, for a total transaction of $272,400,000.00. Following the completion of the sale, the director now owns 1,562,344 shares of the company's stock, valued at approximately $14,186,083.52. This represents a 95.05% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,027,478 shares of company stock worth $545,036,311. Insiders own 6.03% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Voya Investment Management LLC boosted its position in CCC Intelligent Solutions by 9.6% during the first quarter. Voya Investment Management LLC now owns 60,207 shares of the company's stock valued at $544,000 after purchasing an additional 5,291 shares in the last quarter. Rhumbline Advisers grew its position in shares of CCC Intelligent Solutions by 1.5% in the 1st quarter. Rhumbline Advisers now owns 414,450 shares of the company's stock worth $3,742,000 after buying an additional 5,948 shares during the last quarter. Strs Ohio purchased a new position in shares of CCC Intelligent Solutions in the 1st quarter worth approximately $1,519,000. Jane Street Group LLC raised its stake in shares of CCC Intelligent Solutions by 179.6% during the 1st quarter. Jane Street Group LLC now owns 679,581 shares of the company's stock worth $6,137,000 after acquiring an additional 436,561 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in CCC Intelligent Solutions by 6.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,232,145 shares of the company's stock valued at $11,126,000 after acquiring an additional 74,208 shares during the last quarter. 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.