Piper Sandler Reiterates Neutral Rating for CCC Intelligent Solutions (NYSE:CCCS)

CCC Intelligent Solutions (NYSE:CCCS)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Piper Sandler in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $13.00 price objective on the stock. Piper Sandler’s price target points to a potential upside of 4.25% from the company’s current price.

A number of other brokerages also recently commented on CCCS. JPMorgan Chase & Co. upped their price objective on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday. Barclays lowered their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Barrington Research restated an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Bank of America initiated coverage on CCC Intelligent Solutions in a research report on Tuesday, August 20th. They issued a “buy” rating and a $15.00 price objective for the company. Finally, Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $14.00 to $15.00 in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.89.

CCC Intelligent Solutions Stock Up 0.3 %

CCC Intelligent Solutions stock opened at $12.47 on Wednesday. The company has a market capitalization of $7.80 billion, a P/E ratio of 623.50, a PEG ratio of 6.98 and a beta of 0.70. 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 has a fifty-two week low of $9.79 and a fifty-two week high of $12.88. The stock has a 50-day simple moving average of $11.51 and a 200-day simple moving average of $11.17.

CCC Intelligent Solutions (NYSE:CCCS) last announced its earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business had revenue of $238.48 million for the quarter, compared to analysts’ expectations of $237.41 million. During the same period in the previous year, the company posted $0.03 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts expect that CCC Intelligent Solutions will post 0.17 earnings per share for the current year.

Insider Transactions at CCC Intelligent Solutions

In related news, insider Githesh Ramamurthy sold 8,805 shares of CCC Intelligent Solutions stock in a transaction on Monday, November 11th. The shares were sold at an average price of $11.50, for a total value of $101,257.50. Following the completion of the sale, the insider now owns 4,798,040 shares in the company, valued at approximately $55,177,460. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mary Jo Prigge sold 2,489 shares of CCC Intelligent Solutions 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 completion of the transaction, the insider now owns 97,268 shares of the company’s stock, valued at $1,167,216. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 443,153 shares of company stock valued at $5,390,863 over the last quarter. Company insiders own 6.67% of the company’s stock.

Institutional Investors Weigh In On CCC Intelligent Solutions

Several large investors have recently added to or reduced their stakes in CCCS. Advisors Asset Management Inc. lifted its holdings in CCC Intelligent Solutions by 153.0% in the third 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 period. CWM LLC lifted its position in shares of CCC Intelligent Solutions by 352.6% during the 2nd quarter. CWM LLC now owns 3,105 shares of the company’s stock valued at $34,000 after acquiring an additional 2,419 shares during the last quarter. Huntington National Bank increased its stake in CCC Intelligent Solutions by 37.6% in the 3rd quarter. Huntington National Bank now owns 5,852 shares of the company’s stock worth $65,000 after purchasing an additional 1,599 shares in the last quarter. Marco Investment Management LLC acquired a new position in CCC Intelligent Solutions in the 3rd quarter worth approximately $113,000. Finally, KBC Group NV raised its position in CCC Intelligent Solutions by 81.7% during the third quarter. KBC Group NV now owns 10,314 shares of the company’s stock valued at $114,000 after buying an additional 4,637 shares during the period. 95.79% of the stock is owned by institutional investors and hedge funds.

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.