CCC Intelligent Solutions (NYSE:CCCS) Upgraded at Morgan Stanley

CCC Intelligent Solutions (NYSE:CCCS) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Wednesday, Marketbeat.com reports. The firm currently has a $15.00 target price on the stock, up from their previous target price of $14.00. Morgan Stanley’s price target points to a potential upside of 26.69% from the company’s current price.

Several other equities research analysts have also commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Bank of America began coverage on CCC Intelligent Solutions in a research note on Tuesday, August 20th. They issued a “buy” rating and a $15.00 target price on the stock. Barclays reduced their price target 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. Jefferies Financial Group lowered their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Barrington Research reaffirmed an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.78.

CCC Intelligent Solutions Trading Up 1.9 %

Shares of NYSE:CCCS opened at $11.84 on Wednesday. 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 $12.68. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of 592.30, a PEG ratio of 6.60 and a beta of 0.63. The business has a 50-day moving average price of $10.93 and a 200-day moving average price of $10.99.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $238.48 million during 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%. CCC Intelligent Solutions’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $0.03 EPS. Equities analysts predict that CCC Intelligent Solutions will post 0.16 EPS for the current year.

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider Githesh Ramamurthy sold 8,805 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $11.50, for a total transaction of $101,257.50. Following the completion of the sale, the insider now directly owns 4,798,040 shares in the company, valued at approximately $55,177,460. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael John Silva sold 29,022 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $10.75, for a total value of $311,986.50. Following the transaction, the insider now directly owns 30,172 shares of the company’s stock, valued at $324,349. The trade was a 49.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,175 shares of company stock valued at $520,746 in the last three months. 6.67% of the stock is currently owned by company insiders.

Institutional Trading of CCC Intelligent Solutions

Several large investors have recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its position in CCC Intelligent Solutions by 153.0% during the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock worth $32,000 after acquiring an additional 1,729 shares during the last quarter. American International Group Inc. grew its position in shares of CCC Intelligent Solutions by 68.6% in the first quarter. American International Group Inc. now owns 2,789 shares of the company’s stock valued at $33,000 after purchasing an additional 1,135 shares in the last quarter. CWM LLC increased its holdings 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 valued at $34,000 after purchasing an additional 2,419 shares during the last quarter. Twin Tree Management LP purchased a new position in CCC Intelligent Solutions during the first quarter worth approximately $53,000. Finally, Huntington National Bank lifted its position in CCC Intelligent Solutions by 37.6% during the third quarter. Huntington National Bank now owns 5,852 shares of the company’s stock worth $65,000 after buying an additional 1,599 shares in the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

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.