CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives $13.63 Average PT from Brokerages

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $13.63.

Several analysts have recently issued reports on CCCS shares. Evercore ISI increased their price target on shares of CCC Intelligent Solutions from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. Barrington Research reissued an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday, May 1st. Barclays upped their price objective on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 29th. Finally, Piper Sandler raised their target price on CCC Intelligent Solutions from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st.

Insider Transactions at CCC Intelligent Solutions

In related news, insider Githesh Ramamurthy sold 1,000,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $11.86, for a total value of $11,860,000.00. Following the completion of the sale, the insider now owns 6,463,840 shares in the company, valued at $76,661,142.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other CCC Intelligent Solutions news, insider Githesh Ramamurthy sold 1,000,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $11.86, for a total transaction of $11,860,000.00. Following the sale, the insider now directly owns 6,463,840 shares in the company, valued at approximately $76,661,142.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Rodney Christo sold 4,606 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $11.88, for a total transaction of $54,719.28. Following the transaction, the chief accounting officer now directly owns 14,154 shares in the company, valued at $168,149.52. The disclosure for this sale can be found here. Insiders have sold a total of 60,563,332 shares of company stock worth $695,587,511 over the last ninety days. 6.67% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CCC Intelligent Solutions

A number of large investors have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise lifted its holdings in shares of CCC Intelligent Solutions by 128.4% in the first quarter. Banque Cantonale Vaudoise now owns 2,533 shares of the company’s stock valued at $30,000 after purchasing an additional 1,424 shares in the last quarter. American International Group Inc. lifted its stake in CCC Intelligent Solutions by 68.6% in the 1st quarter. American International Group Inc. now owns 2,789 shares of the company’s stock valued at $33,000 after buying an additional 1,135 shares in the last quarter. Park Place Capital Corp grew its holdings in CCC Intelligent Solutions by 65.9% during the 4th quarter. Park Place Capital Corp now owns 4,175 shares of the company’s stock valued at $48,000 after buying an additional 1,659 shares during the last quarter. Twin Tree Management LP purchased a new position in CCC Intelligent Solutions during the first quarter worth $53,000. Finally, Covestor Ltd raised its holdings in shares of CCC Intelligent Solutions by 781.7% in the third quarter. Covestor Ltd now owns 6,895 shares of the company’s stock worth $92,000 after acquiring an additional 6,113 shares during the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

CCC Intelligent Solutions Price Performance

CCCS stock opened at $11.52 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.53 and a quick ratio of 2.53. The business has a 50 day simple moving average of $11.35 and a 200-day simple moving average of $11.41. The firm has a market capitalization of $7.16 billion, a PE ratio of -54.86, a price-to-earnings-growth ratio of 5.57 and a beta of 0.62. CCC Intelligent Solutions has a 1 year low of $10.32 and a 1 year high of $13.41.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $227.24 million during the quarter, compared to analyst estimates of $225.21 million. CCC Intelligent Solutions had a negative net margin of 10.85% and a positive return on equity of 4.52%. Equities research analysts anticipate that CCC Intelligent Solutions will post 0.16 earnings per share for the current fiscal year.

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.