CCC Intelligent Solutions’ (CCCS) “Outperform” Rating Reaffirmed at Barrington Research

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

CCCS has been the topic of a number of other research reports. Barclays increased their price objective on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an equal weight rating in a research note on Thursday, February 29th. Evercore ISI increased their price objective on shares of CCC Intelligent Solutions from $13.00 to $15.00 and gave the stock an outperform rating in a research note on Wednesday, March 13th. Piper Sandler increased their price objective on shares of CCC Intelligent Solutions from $11.00 to $13.00 and gave the stock a neutral rating in a research note on Friday, March 1st. Finally, Citigroup reiterated a buy rating and issued a $13.00 price objective on shares of CCC Intelligent Solutions in a research note on Thursday, February 8th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $13.63.

CCC Intelligent Solutions Trading Down 6.0 %

Shares of CCC Intelligent Solutions stock opened at $10.55 on Wednesday. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.43. CCC Intelligent Solutions has a 12-month low of $8.42 and a 12-month high of $13.41. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of -50.24 and a beta of 0.62. The firm’s 50 day simple moving average is $11.75 and its two-hundred day simple moving average is $11.46.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The company had revenue of $228.60 million for the quarter, compared to analyst estimates of $222.80 million. CCC Intelligent Solutions had a negative net margin of 10.67% and a positive return on equity of 5.80%. Analysts predict that CCC Intelligent Solutions will post 0.18 EPS for the current year.

Insider Buying and Selling

In related news, Director Lauren Young sold 41,165,139 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $11.33, for a total value of $466,401,024.87. Following the completion of the sale, the director now owns 5,164,022 shares in the company, valued at approximately $58,508,369.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Githesh Ramamurthy sold 57,619 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $11.52, for a total transaction of $663,770.88. Following the transaction, the insider now directly owns 6,463,840 shares of the company’s stock, valued at approximately $74,463,436.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lauren Young sold 41,165,139 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $11.33, for a total transaction of $466,401,024.87. Following the completion of the sale, the director now owns 5,164,022 shares in the company, valued at $58,508,369.26. The disclosure for this sale can be found here. Insiders sold 59,706,755 shares of company stock worth $681,785,331 over the last 90 days. 6.67% of the stock is owned by insiders.

Institutional Investors Weigh In On CCC Intelligent Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. Fort Washington Investment Advisors Inc. OH lifted its holdings in CCC Intelligent Solutions by 6.1% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 2,225,063 shares of the company’s stock valued at $25,343,000 after purchasing an additional 127,738 shares in the last quarter. Riverbridge Partners LLC lifted its holdings in shares of CCC Intelligent Solutions by 41.6% during the 4th quarter. Riverbridge Partners LLC now owns 6,836,239 shares of the company’s stock worth $77,865,000 after acquiring an additional 2,009,175 shares during the period. Invesco Ltd. lifted its holdings in shares of CCC Intelligent Solutions by 19.2% during the 3rd quarter. Invesco Ltd. now owns 7,822,986 shares of the company’s stock worth $104,437,000 after acquiring an additional 1,260,457 shares during the period. Westfield Capital Management Co. LP purchased a new position in shares of CCC Intelligent Solutions during the 3rd quarter worth about $8,694,000. Finally, Gotham Asset Management LLC lifted its holdings in shares of CCC Intelligent Solutions by 16.4% during the 3rd quarter. Gotham Asset Management LLC now owns 85,976 shares of the company’s stock worth $1,148,000 after acquiring an additional 12,112 shares during the period. 95.79% of the stock is currently owned by hedge funds and other 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.