JPMorgan Chase & Co. Lowers CCC Intelligent Solutions (NYSE:CCCS) Price Target to $13.00

CCC Intelligent Solutions (NYSE:CCCS) had its target price decreased by JPMorgan Chase & Co. from $14.00 to $13.00 in a report released on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

CCCS has been the subject of several other research reports. Barrington Research reiterated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Tuesday. Bank of America assumed coverage on shares of CCC Intelligent Solutions in a research report on Tuesday, August 20th. They set a “buy” rating and a $15.00 target price for the company. Barclays cut their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Jefferies Financial Group cut their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, CCC Intelligent Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $13.56.

CCC Intelligent Solutions Stock Down 0.2 %

Shares of NYSE CCCS opened at $10.93 on Tuesday. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.40. CCC Intelligent Solutions has a 52 week low of $9.79 and a 52 week high of $12.68. The firm has a 50-day moving average price of $10.85 and a 200 day moving average price of $11.02. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of -52.05, a price-to-earnings-growth ratio of 6.26 and a beta of 0.62.

CCC Intelligent Solutions (NYSE:CCCS) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. CCC Intelligent Solutions had a net margin of 2.36% and a return on equity of 5.16%. The firm had revenue of $238.48 million during the quarter, compared to analysts’ expectations of $237.41 million. During the same quarter last year, the business earned $0.03 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that CCC Intelligent Solutions will post 0.16 EPS for the current fiscal year.

Insider Activity

In other news, insider John Page Goodson sold 45,560 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $10.08, for a total value of $459,244.80. Following the completion of the transaction, the insider now owns 87,892 shares of the company’s stock, valued at $885,951.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Eileen Schloss sold 99,925 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $9.89, for a total value of $988,258.25. Following the transaction, the director now directly owns 54,047 shares of the company’s stock, valued at approximately $534,524.83. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Page Goodson sold 45,560 shares of CCC Intelligent Solutions stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $10.08, for a total value of $459,244.80. Following the completion of the transaction, the insider now owns 87,892 shares in the company, valued at $885,951.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 213,323 shares of company stock valued at $2,157,354 over the last 90 days. Insiders own 6.67% of the company’s stock.

Hedge Funds Weigh In On CCC Intelligent Solutions

Large investors have recently modified their holdings of the company. American International Group Inc. increased its position in CCC Intelligent Solutions by 68.6% during the 1st quarter. American International Group Inc. now owns 2,789 shares of the company’s stock worth $33,000 after purchasing an additional 1,135 shares in the last quarter. CWM LLC increased its position in shares of CCC Intelligent Solutions by 352.6% in the second quarter. CWM LLC now owns 3,105 shares of the company’s stock worth $34,000 after acquiring an additional 2,419 shares in the last quarter. Twin Tree Management LP purchased a new position in shares of CCC Intelligent Solutions in the 1st quarter valued at $53,000. Quarry LP lifted its holdings in shares of CCC Intelligent Solutions by 304.0% during the 2nd quarter. Quarry LP now owns 11,219 shares of the company’s stock valued at $125,000 after acquiring an additional 8,442 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in CCC Intelligent Solutions by 15.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 11,849 shares of the company’s stock worth $132,000 after purchasing an additional 1,564 shares during the period. 95.79% of the stock is currently owned by hedge funds and other 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.