CCC Intelligent Solutions (NYSE:CCCS) Stock Rating Lowered by JPMorgan Chase & Co.

CCC Intelligent Solutions (NYSE:CCCS) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Wednesday,Briefing.com Automated Import reports. They presently have a $11.00 target price on the stock, down from their previous target price of $14.00. JPMorgan Chase & Co.‘s price target points to a potential upside of 6.80% from the company’s current price.

Several other brokerages have also recently commented on CCCS. Piper Sandler reissued a “neutral” rating and set a $13.00 price target on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th. Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. 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. Finally, Barrington Research reaffirmed an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Monday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.63.

CCC Intelligent Solutions Trading Up 0.7 %

NYSE CCCS opened at $10.30 on Wednesday. CCC Intelligent Solutions has a 52 week low of $9.79 and a 52 week high of $12.88. The stock’s 50 day moving average price is $11.23 and its two-hundred day moving average price is $11.23. The stock has a market capitalization of $6.76 billion, a price-to-earnings ratio of 515.26 and a beta of 0.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19.

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

Insider Buying and Selling at CCC Intelligent Solutions

In related news, Director Crescenzo Neil E. De purchased 100,000 shares of the stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $12.16 per share, with a total value of $1,216,000.00. Following the acquisition, the director now directly owns 100,000 shares in the company, valued at $1,216,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 6.67% of the company’s stock.

Hedge Funds Weigh In On CCC Intelligent Solutions

Institutional investors and hedge funds have recently made changes to their positions in the company. Cache Advisors LLC acquired a new stake in CCC Intelligent Solutions during the 4th quarter worth approximately $1,362,000. Squarepoint Ops LLC increased its position in CCC Intelligent Solutions by 736.2% during the 4th quarter. Squarepoint Ops LLC now owns 141,091 shares of the company’s stock worth $1,655,000 after buying an additional 124,218 shares during the period. Twinbeech Capital LP acquired a new stake in shares of CCC Intelligent Solutions during the fourth quarter worth $489,000. TPG GP A LLC boosted its position in shares of CCC Intelligent Solutions by 17.3% in the fourth quarter. TPG GP A LLC now owns 4,087,220 shares of the company’s stock valued at $47,943,000 after acquiring an additional 602,959 shares during the period. Finally, State of Wyoming grew its stake in shares of CCC Intelligent Solutions by 26.7% in the fourth quarter. State of Wyoming now owns 17,680 shares of the company’s stock valued at $207,000 after acquiring an additional 3,731 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

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.