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

Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $13.89.

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

CCC Intelligent Solutions Price Performance

Shares of NYSE CCCS opened at $11.55 on Friday. The firm has a 50-day simple moving average of $11.86 and a 200-day simple moving average of $11.22. 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 stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of 577.79, a price-to-earnings-growth ratio of 6.80 and a beta of 0.71. 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 released its quarterly earnings data on Monday, October 28th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $238.48 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 EPS. On average, equities analysts predict that CCC Intelligent Solutions will post 0.17 earnings per share for the current fiscal year.

CCC Intelligent Solutions announced that its Board of Directors has initiated a share buyback program on Friday, December 20th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, insider Githesh Ramamurthy sold 9,348 shares of CCC Intelligent Solutions stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $11.50, for a total value of $107,502.00. Following the completion of the transaction, the insider now directly owns 4,798,040 shares in the company, valued at approximately $55,177,460. This trade represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mary Jo Prigge sold 2,489 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $12.00, for a total value of $29,868.00. Following the sale, the insider now owns 97,268 shares in the company, valued at approximately $1,167,216. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 443,153 shares of company stock valued at $5,390,863. 6.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its position in shares of CCC Intelligent Solutions by 153.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock worth $32,000 after purchasing an additional 1,729 shares during the last quarter. GAMMA Investing LLC lifted its holdings in CCC Intelligent Solutions by 286.9% during the 4th quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock worth $39,000 after buying an additional 2,479 shares during the last quarter. Huntington National Bank boosted its position in shares of CCC Intelligent Solutions by 37.6% during the 3rd quarter. Huntington National Bank now owns 5,852 shares of the company’s stock worth $65,000 after acquiring an additional 1,599 shares in the last quarter. Marco Investment Management LLC purchased a new position in shares of CCC Intelligent Solutions in the 3rd quarter valued at about $113,000. Finally, KBC Group NV raised its position in shares of CCC Intelligent Solutions by 81.7% during the 3rd quarter. KBC Group NV now owns 10,314 shares of the company’s stock worth $114,000 after acquiring an additional 4,637 shares in the last quarter. Institutional investors and hedge funds 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.