CCC Intelligent Solutions (NYSE:CCCS) Earns Outperform Rating from Barrington Research

Barrington Research reaffirmed their outperform rating on shares of CCC Intelligent Solutions (NYSE:CCCS) in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a $14.00 price objective on the stock.

Separately, Jefferies Financial Group reduced their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a buy rating on the stock in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, CCC Intelligent Solutions currently has an average rating of Moderate Buy and an average price target of $13.63.

CCC Intelligent Solutions Price Performance

Shares of CCCS opened at $10.22 on Wednesday. The stock has a market capitalization of $6.37 billion, a PE ratio of -48.67 and a beta of 0.62. CCC Intelligent Solutions has a 1 year low of $9.97 and a 1 year high of $13.41. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.53 and a current ratio of 2.79. The company’s 50-day simple moving average is $11.25 and its 200-day simple moving average is $11.37.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. The business had revenue of $232.60 million for the quarter, compared to analysts’ expectations of $230.16 million. CCC Intelligent Solutions had a net margin of 2.36% and a return on equity of 5.16%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 earnings per share. Analysts forecast that CCC Intelligent Solutions will post 0.15 earnings per share for the current fiscal year.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider Mary Jo Prigge sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $11.50, for a total transaction of $1,150,000.00. Following the sale, the insider now owns 86,825 shares of the company’s stock, valued at $998,487.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other CCC Intelligent Solutions news, CAO Rodney Christo sold 4,177 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $10.24, for a total transaction of $42,772.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mary Jo Prigge sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $11.50, for a total transaction of $1,150,000.00. Following the sale, the insider now directly owns 86,825 shares in the company, valued at approximately $998,487.50. The disclosure for this sale can be found here. Insiders have sold a total of 67,802,280 shares of company stock valued at $772,070,710 over the last 90 days. 6.67% of the stock is owned by corporate insiders.

Institutional Trading of CCC Intelligent Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise grew its position in shares of CCC Intelligent Solutions by 128.4% during the first quarter. Banque Cantonale Vaudoise now owns 2,533 shares of the company’s stock worth $30,000 after acquiring an additional 1,424 shares during the last quarter. American International Group Inc. grew its position in shares of CCC Intelligent Solutions by 68.6% during the first quarter. American International Group Inc. now owns 2,789 shares of the company’s stock worth $33,000 after acquiring an additional 1,135 shares during the last quarter. CWM LLC grew its position in shares of CCC Intelligent Solutions by 352.6% during the second quarter. CWM LLC now owns 3,105 shares of the company’s stock worth $34,000 after acquiring an additional 2,419 shares during the last quarter. Park Place Capital Corp grew its position in shares of CCC Intelligent Solutions by 65.9% during the fourth quarter. Park Place Capital Corp now owns 4,175 shares of the company’s stock worth $48,000 after acquiring an additional 1,659 shares during the last quarter. Finally, Twin Tree Management LP purchased a new position in shares of CCC Intelligent Solutions during the first quarter worth approximately $53,000. 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.