CCC Intelligent Solutions (NYSE:CCCS) Hits New 52-Week High – Here’s Why

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $12.72 and last traded at $12.72, with a volume of 607977 shares traded. The stock had previously closed at $12.47.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CCCS shares. Barclays decreased their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Barrington Research restated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. JPMorgan Chase & Co. cut their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Jefferies Financial Group lowered their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $14.00 to $15.00 in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.78.

CCC Intelligent Solutions Stock Up 2.2 %

The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 83.13, a P/E/G ratio of 6.87 and a beta of 0.63. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The firm’s fifty day moving average is $11.10 and its two-hundred day moving average is $11.04.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $237.41 million. During the same period last year, the firm posted $0.03 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider Mary Jo Prigge sold 97,511 shares of CCC Intelligent Solutions stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $12.01, for a total value of $1,171,107.11. Following the transaction, the insider now owns 97,268 shares in the company, valued at approximately $1,168,188.68. The trade was a 50.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Rodney Christo sold 75,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $12.01, for a total value of $900,750.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 268,153 shares of company stock valued at $3,195,485. Corporate insiders own 6.67% of the company’s stock.

Hedge Funds Weigh In On CCC Intelligent Solutions

A number of institutional investors have recently bought and sold shares of CCCS. Synovus Financial Corp lifted its holdings in shares of CCC Intelligent Solutions by 1.6% in the third quarter. Synovus Financial Corp now owns 228,404 shares of the company’s stock valued at $2,524,000 after purchasing an additional 3,627 shares in the last quarter. Tidal Investments LLC purchased a new stake in CCC Intelligent Solutions in the 3rd quarter worth about $117,000. Sanctuary Advisors LLC purchased a new position in CCC Intelligent Solutions during the 3rd quarter valued at about $136,000. Barclays PLC increased its holdings in shares of CCC Intelligent Solutions by 155.7% in the 3rd quarter. Barclays PLC now owns 109,020 shares of the company’s stock valued at $1,205,000 after purchasing an additional 66,386 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of CCC Intelligent Solutions by 45.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company’s stock worth $1,824,000 after purchasing an additional 51,607 shares in the last quarter. 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.