CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives $13.89 Consensus Target Price from Analysts

Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) have been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $13.89.

Several brokerages recently issued reports on CCCS. Barrington Research reissued an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. JPMorgan Chase & Co. boosted their price target on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Barclays dropped their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Piper Sandler reiterated a “neutral” rating and issued a $13.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Finally, Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $14.00 to $15.00 in a report on Wednesday, November 13th.

CCC Intelligent Solutions Price Performance

CCCS opened at $11.80 on Friday. The business has a fifty day moving average of $11.81 and a 200 day moving average of $11.21. The stock has a market cap of $7.38 billion, a P/E ratio of 590.30, a PEG ratio of 6.80 and a beta of 0.71. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions has a 52-week low of $9.79 and a 52-week high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS) last issued its earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $238.48 million for the quarter, compared to analyst estimates of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.03 earnings per share. As a group, sell-side analysts anticipate that CCC Intelligent Solutions will post 0.17 EPS for the current year.

CCC Intelligent Solutions declared that its board has authorized a stock repurchase plan on Friday, December 20th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to repurchase up to 4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 9,916 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $12.67, for a total transaction of $125,635.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Crescenzo Neil E. De bought 100,000 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was bought at an average price of $12.16 per share, for a total transaction of $1,216,000.00. Following the transaction, the director now owns 100,000 shares of the company’s stock, valued at approximately $1,216,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 443,153 shares of company stock valued at $5,390,863. Corporate insiders own 6.67% of the company’s stock.

Institutional Trading of CCC Intelligent Solutions

A number of institutional investors have recently made changes to their positions in the company. Ghisallo Capital Management LLC purchased a new stake in CCC Intelligent Solutions during the 2nd quarter valued at about $132,917,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of CCC Intelligent Solutions in the second quarter valued at approximately $70,844,000. Van Berkom & Associates Inc. acquired a new stake in shares of CCC Intelligent Solutions in the second quarter valued at approximately $61,605,000. Wasatch Advisors LP lifted its position in CCC Intelligent Solutions by 49.1% during the third quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company’s stock worth $158,358,000 after buying an additional 4,716,587 shares in the last quarter. Finally, Dragoneer Investment Group LLC boosted its stake in CCC Intelligent Solutions by 31.5% during the second quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company’s stock worth $176,704,000 after buying an additional 3,809,200 shares during the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

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.