Piper Sandler Lowers CCC Intelligent Solutions (NYSE:CCCS) Price Target to $9.00

CCC Intelligent Solutions (NYSE:CCCS) had its price target cut by Piper Sandler from $11.00 to $9.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price points to a potential upside of 8.63% from the company’s current price.

CCCS has been the topic of a number of other reports. Barclays reduced their target price on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Barrington Research restated an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Wednesday. Morgan Stanley cut their price target on CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $14.00 to $11.00 in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $12.29.

CCC Intelligent Solutions Trading Down 9.8 %

NYSE:CCCS opened at $8.29 on Wednesday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $5.46 billion, a PE ratio of 414.46 and a beta of 0.76. The stock has a fifty day simple moving average of $9.03 and a 200-day simple moving average of $10.62. CCC Intelligent Solutions has a 52-week low of $8.14 and a 52-week high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $251.57 million during the quarter, compared to the consensus estimate of $249.87 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 EPS. On average, equities research analysts expect that CCC Intelligent Solutions will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Eileen Schloss sold 27,478 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $8.60, for a total value of $236,310.80. Following the completion of the transaction, the director now directly owns 26,569 shares of the company’s stock, valued at $228,493.40. This represents a 50.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eric Wei sold 42,000,000 shares of CCC Intelligent Solutions stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.32, for a total value of $433,440,000.00. Following the sale, the director now directly owns 2,258,343 shares in the company, valued at approximately $23,306,099.76. The trade was a 94.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,087,456 shares of company stock valued at $434,240,401 over the last three months. 6.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On CCC Intelligent Solutions

A number of hedge funds have recently bought and sold shares of CCCS. Eagle Bay Advisors LLC acquired a new stake in shares of CCC Intelligent Solutions during the fourth quarter worth approximately $25,000. UMB Bank n.a. acquired a new position in CCC Intelligent Solutions during the 4th quarter worth $28,000. TD Private Client Wealth LLC bought a new stake in shares of CCC Intelligent Solutions in the 4th quarter worth about $31,000. Quarry LP acquired a new stake in shares of CCC Intelligent Solutions in the 4th quarter valued at about $36,000. Finally, GAMMA Investing LLC lifted its position in shares of CCC Intelligent Solutions by 286.9% during the fourth quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock worth $39,000 after purchasing an additional 2,479 shares during the last quarter. Institutional investors and hedge funds 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.