CCC Intelligent Solutions (NYSE:CCCS) Sets New 52-Week High – Here’s What Happened

Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) hit a new 52-week high during trading on Monday . The stock traded as high as $12.72 and last traded at $12.72, with a volume of 607977 shares trading hands. The stock had previously closed at $12.47.

Wall Street Analyst Weigh In

Several research firms have issued reports on CCCS. Barrington Research reiterated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $14.00 to $15.00 in a report on Wednesday, November 13th. Jefferies Financial Group decreased their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Finally, Barclays reduced their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.78.

CCC Intelligent Solutions Stock Performance

The firm has a fifty day moving average of $11.18 and a 200-day moving average of $11.07. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The firm has a market cap of $7.89 billion, a P/E ratio of 631.32, a PEG ratio of 7.02 and a beta of 0.63.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The company had revenue of $238.48 million during the quarter, compared to analysts’ expectations of $237.41 million. During the same quarter in the previous year, the company earned $0.03 EPS. CCC Intelligent Solutions’s revenue was up 7.8% on a year-over-year basis. Research analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity at CCC Intelligent Solutions

In other news, CAO Rodney Christo sold 75,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $11.80, for a total transaction of $885,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mary Jo Prigge sold 19,276 shares of CCC Intelligent Solutions stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $12.67, for a total value of $244,226.92. Following the transaction, the insider now owns 97,268 shares in the company, valued at $1,232,385.56. This trade represents a 16.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 443,153 shares of company stock worth $5,390,863. 6.67% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CCC Intelligent Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. American International Group Inc. increased its holdings 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. Amalgamated Bank grew its holdings in shares of CCC Intelligent Solutions by 5.8% during the third quarter. Amalgamated Bank now owns 23,722 shares of the company’s stock worth $262,000 after buying an additional 1,299 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its position in CCC Intelligent Solutions by 2.1% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 67,047 shares of the company’s stock valued at $745,000 after buying an additional 1,390 shares during the last quarter. Hardy Reed LLC lifted its stake in CCC Intelligent Solutions by 7.1% in the 3rd quarter. Hardy Reed LLC now owns 21,540 shares of the company’s stock valued at $238,000 after acquiring an additional 1,430 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 acquiring an additional 1,564 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

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.