Bank of America Initiates Coverage on CCC Intelligent Solutions (NYSE:CCCS)

Bank of America assumed coverage on shares of CCC Intelligent Solutions (NYSE:CCCS) in a research note released on Tuesday, MarketBeat.com reports. The firm issued a buy rating and a $15.00 price target on the stock.

A number of other research analysts also recently weighed in on CCCS. Jefferies Financial Group reduced their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set a buy rating on the stock in a report on Wednesday, July 31st. Barrington Research reiterated an outperform rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $13.78.

CCC Intelligent Solutions Stock Down 0.3 %

Shares of NYSE:CCCS opened at $10.80 on Tuesday. CCC Intelligent Solutions has a 1 year low of $9.79 and a 1 year high of $13.41. The company has a market cap of $6.71 billion, a PE ratio of -51.43 and a beta of 0.62. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.79 and a quick ratio of 2.53. The stock’s 50-day moving average is $10.95 and its 200 day moving average is $11.31.

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

Insider Buying and Selling

In related news, CAO Rodney Christo sold 4,177 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total value of $42,772.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CAO Rodney Christo sold 4,177 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total value of $42,772.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brian Herb sold 20,887 shares of the company’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 value of $213,882.88. Following the completion of the transaction, the insider now directly owns 217,872 shares in the company, valued at $2,231,009.28. The disclosure for this sale can be found here. Insiders have sold 66,886,581 shares of company stock worth $760,986,077 in the last 90 days. Insiders own 6.67% of the company’s stock.

Hedge Funds Weigh In On CCC Intelligent Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wedmont Private Capital lifted its holdings in shares of CCC Intelligent Solutions by 9.7% during the 1st quarter. Wedmont Private Capital now owns 12,266 shares of the company’s stock valued at $146,000 after buying an additional 1,082 shares during the period. American International Group Inc. raised its holdings 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 worth $33,000 after purchasing an additional 1,135 shares during the period. Bradley Foster & Sargent Inc. CT raised its holdings in CCC Intelligent Solutions by 2.1% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 67,047 shares of the company’s stock worth $745,000 after purchasing an additional 1,390 shares during the period. Banque Cantonale Vaudoise raised its holdings in CCC Intelligent Solutions by 128.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 2,533 shares of the company’s stock worth $30,000 after purchasing an additional 1,424 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in CCC Intelligent Solutions by 15.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 11,849 shares of the company’s stock worth $132,000 after purchasing an additional 1,564 shares during the period. 95.79% of the stock is owned by institutional investors.

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.