CCC Intelligent Solutions (NYSE:CCCS) Given Outperform Rating at Barrington Research

Barrington Research restated their outperform rating on shares of CCC Intelligent Solutions (NYSE:CCCS) in a research note issued to investors on Monday,Benzinga reports. They currently have a $14.00 price objective on the stock.

A number of other research firms have also recently weighed in on CCCS. Barclays lowered their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $14.00 to $15.00 in a research note on Wednesday, November 13th. Piper Sandler restated a “neutral” rating and set a $13.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

CCC Intelligent Solutions Trading Down 1.9 %

NYSE CCCS opened at $10.23 on Monday. The company has a 50 day moving average price of $11.27 and a 200 day moving average price of $11.23. 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. The firm has a market cap of $6.71 billion, a PE ratio of 511.76 and a beta of 0.71.

CCC Intelligent Solutions announced that its Board of Directors has approved a share buyback plan on Friday, December 20th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average cost of $12.16 per share, for a total transaction of $1,216,000.00. Following the completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $1,216,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.67% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CCC Intelligent Solutions

A number of institutional investors have recently modified their holdings of CCCS. T. Rowe Price Investment Management Inc. increased its holdings in shares of CCC Intelligent Solutions by 6.3% during the 4th 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 in the last quarter. Vanguard Group Inc. boosted its holdings in CCC Intelligent Solutions by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 51,387,172 shares of the company’s stock worth $602,772,000 after buying an additional 847,334 shares in the last quarter. Principal Financial Group Inc. grew its position in CCC Intelligent Solutions by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 26,939,551 shares of the company’s stock valued at $316,001,000 after buying an additional 455,040 shares during the period. Wasatch Advisors LP increased its holdings in CCC Intelligent Solutions by 49.1% in the third quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company’s stock valued at $158,358,000 after buying an additional 4,716,587 shares in the last quarter. Finally, Brown Advisory Inc. raised its position in shares of CCC Intelligent Solutions by 2.2% in the fourth quarter. Brown Advisory Inc. now owns 14,033,496 shares of the company’s stock worth $164,613,000 after acquiring an additional 299,943 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.