CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives Average Rating of “Moderate Buy” from Analysts

Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $13.75.

CCCS has been the topic of a number of research reports. Bank of America began coverage on shares of CCC Intelligent Solutions in a research report on Tuesday, August 20th. They set a “buy” rating and a $15.00 target price on the stock. Barrington Research reissued an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group lowered their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, July 31st.

CCC Intelligent Solutions Stock Down 0.5 %

Shares of NYSE CCCS opened at $10.88 on Thursday. The company has a market cap of $6.76 billion, a P/E ratio of -51.81, a PEG ratio of 6.35 and a beta of 0.62. The firm has a 50-day simple moving average of $10.69 and a two-hundred day simple moving average of $11.19. CCC Intelligent Solutions has a 1 year low of $9.79 and a 1 year high of $13.41. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.79 and a quick ratio of 2.79.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The firm 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 revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 earnings per share. Research analysts anticipate that CCC Intelligent Solutions will post 0.16 earnings per share for the current year.

Insider Activity

In related news, CAO Rodney Christo sold 4,177 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total transaction of $42,772.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other CCC Intelligent Solutions news, Director International L.P. Advent sold 24,973,795 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $11.30, for a total transaction of $282,203,883.50. Following the sale, the director now owns 3,232,721 shares of the company’s stock, valued at approximately $36,529,747.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Rodney Christo sold 4,177 shares of CCC Intelligent Solutions stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total transaction of $42,772.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,212,582 shares of company stock worth $284,622,492. Insiders own 6.67% of the company’s stock.

Hedge Funds Weigh In On CCC Intelligent Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCCS. Ghisallo Capital Management LLC acquired a new stake in shares of CCC Intelligent Solutions during the second quarter worth about $132,917,000. Maven Securities LTD acquired a new stake in CCC Intelligent Solutions during the 2nd quarter valued at approximately $2,778,000. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of CCC Intelligent Solutions by 6.0% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 113,433 shares of the company’s stock valued at $1,260,000 after acquiring an additional 6,442 shares during the last quarter. Quarry LP increased its stake in shares of CCC Intelligent Solutions by 304.0% in the second quarter. Quarry LP now owns 11,219 shares of the company’s stock worth $125,000 after acquiring an additional 8,442 shares during the period. Finally, Algert Global LLC purchased a new position in shares of CCC Intelligent Solutions during the second quarter worth $343,000. Hedge funds and other institutional investors 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.