Piper Sandler Issues Pessimistic Forecast for CCC Intelligent Solutions (NYSE:CCCS) Stock Price

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) had its target price dropped by equities research analysts at Piper Sandler from $11.00 to $9.00 in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has a "neutral" rating on the stock.

CCCS has been the subject of a number of other research reports. Barclays decreased their price objective on CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Morgan Stanley decreased their price target on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Barrington Research reissued an "outperform" rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Wednesday. Finally, JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.19.

CCC Intelligent Solutions Trading Up 0.7 %

CCC Intelligent Solutions stock traded up $0.06 during mid-day trading on Wednesday, reaching $9.00. 5,077,402 shares of the company traded hands, compared to its average volume of 4,831,008. 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. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 450.23 and a beta of 0.76. The firm's 50 day moving average price is $8.97 and its 200 day moving average price is $10.58.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting 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 for the quarter, compared to analysts' expectations of $249.87 million. CCC Intelligent Solutions's quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 earnings per share. On average, analysts anticipate that CCC Intelligent Solutions will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Rodney Christo sold 20,077 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.20, for a total value of $204,785.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eileen Schloss sold 27,478 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $8.60, for a total value of $236,310.80. Following the transaction, the director now owns 26,569 shares of the company's stock, valued at approximately $228,493.40. This trade represents a 50.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,087,456 shares of company stock worth $434,240,401. Company insiders own 6.03% of the company's stock.

Institutional Investors Weigh In On CCC Intelligent Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC bought a new stake in shares of CCC Intelligent Solutions during the 4th quarter valued at $25,000. UMB Bank n.a. bought a new stake in CCC Intelligent Solutions during the fourth quarter valued at about $28,000. TD Private Client Wealth LLC purchased a new position in shares of CCC Intelligent Solutions in the fourth quarter valued at about $31,000. Quarry LP purchased a new position in shares of CCC Intelligent Solutions in the fourth quarter valued at about $36,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of CCC Intelligent Solutions in the first quarter worth about $37,000. Institutional investors own 95.79% of the company's stock.

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.