CCC Intelligent Solutions (NYSE:CCCS) Given New $9.00 Price Target at Piper Sandler

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) had its price objective cut by research analysts at Piper Sandler from $11.00 to $9.00 in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage presently has a "neutral" rating on the stock. Piper Sandler's target price indicates a potential downside of 1.15% from the company's current price.

A number of other analysts also recently weighed in on CCCS. Barclays reduced their target price on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and cut their price target for the company from $14.00 to $11.00 in a report on Wednesday, February 26th. Barrington Research reissued an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Wednesday, May 7th. Finally, Morgan Stanley lowered their price objective on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $12.19.

CCC Intelligent Solutions Stock Performance

Shares of CCC Intelligent Solutions stock traded up $0.10 on Wednesday, hitting $9.11. 2,434,375 shares of the company's stock were exchanged, compared to its average volume of 4,835,592. The company has a 50-day simple moving average of $8.97 and a 200-day simple moving average of $10.57. The stock has a market capitalization of $6.00 billion, a PE ratio of 455.48 and a beta of 0.76. CCC Intelligent Solutions has a 1 year low of $8.14 and a 1 year high of $12.88. 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 (NYSE:CCCS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, meeting analysts' consensus estimates 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. During the same quarter in the previous year, the company earned $0.09 EPS. CCC Intelligent Solutions's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities analysts anticipate that CCC Intelligent Solutions will post 0.17 EPS for the current year.

Insider Transactions at CCC Intelligent Solutions

In related news, Director Eileen Schloss sold 34,055 shares of the firm's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $8.98, for a total transaction of $305,813.90. Following the sale, the director now owns 54,047 shares in the company, valued at approximately $485,342.06. This trade represents a 38.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric Wei sold 42,000,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the sale, the director now owns 2,258,343 shares in the company, valued at approximately $23,306,099.76. This represents a 94.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,087,456 shares of company stock worth $434,240,401 over the last 90 days. 6.03% of the stock is currently owned by company insiders.

Institutional Trading of CCC Intelligent Solutions

Several institutional investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. grew its position in shares of CCC Intelligent Solutions by 6.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 68,866,717 shares of the company's stock valued at $807,807,000 after purchasing an additional 4,060,284 shares during the period. Vanguard Group Inc. grew its position in shares of CCC Intelligent Solutions by 9.9% in the first quarter. Vanguard Group Inc. now owns 56,491,007 shares of the company's stock valued at $510,114,000 after purchasing an additional 5,103,835 shares during the period. Principal Financial Group Inc. grew its position in shares of CCC Intelligent Solutions by 1.4% in the first quarter. Principal Financial Group Inc. now owns 27,303,495 shares of the company's stock valued at $246,551,000 after purchasing an additional 363,944 shares during the period. Brown Advisory Inc. grew its position in shares of CCC Intelligent Solutions by 30.7% in the first quarter. Brown Advisory Inc. now owns 18,346,792 shares of the company's stock valued at $165,672,000 after purchasing an additional 4,313,296 shares during the period. Finally, Conestoga Capital Advisors LLC grew its position in shares of CCC Intelligent Solutions by 1.5% in the first quarter. Conestoga Capital Advisors LLC now owns 12,439,365 shares of the company's stock valued at $112,327,000 after purchasing an additional 178,330 shares during the period. Institutional investors and hedge funds 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.