CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives Consensus Recommendation of "Moderate Buy" from Analysts

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Get Free Report) has received a consensus rating of "Moderate Buy" from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $13.89.

CCCS has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an "overweight" rating in a report on Monday, December 9th. Morgan Stanley raised shares of CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $14.00 to $15.00 in a research note on Wednesday, November 13th. Barclays cut their price objective 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 issued a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Finally, Piper Sandler reiterated a "neutral" rating and set a $13.00 price target on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th.

CCC Intelligent Solutions Price Performance

Shares of NYSE:CCCS traded up $0.43 during trading on Wednesday, reaching $11.70. 4,642,009 shares of the company's stock traded hands, compared to its average volume of 3,893,385. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions has a fifty-two week low of $9.79 and a fifty-two week high of $12.88. The company has a 50-day simple moving average of $11.92 and a 200-day simple moving average of $11.22. The firm has a market cap of $7.68 billion, a PE ratio of 585.29 and a beta of 0.72.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $238.48 million for the quarter, compared to analyst estimates of $237.41 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. CCC Intelligent Solutions's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. As a group, analysts predict that CCC Intelligent Solutions will post 0.17 earnings per share for the current year.

CCC Intelligent Solutions announced that its Board of Directors has initiated a share repurchase program on Friday, December 20th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De acquired 100,000 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average cost of $12.16 per share, for a total transaction of $1,216,000.00. Following the completion of the transaction, the director now owns 100,000 shares of the company's stock, valued at approximately $1,216,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Githesh Ramamurthy sold 8,805 shares of the company's 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 transaction, the insider now directly owns 4,798,040 shares in the company, valued at approximately $55,177,460. This trade represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 443,153 shares of company stock worth $5,390,863 in the last quarter. Company insiders own 6.67% of the company's stock.

Institutional Investors Weigh In On CCC Intelligent Solutions

Institutional investors and hedge funds have recently modified their holdings of the company. Baker Tilly Wealth Management LLC increased its stake in CCC Intelligent Solutions by 6.6% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 14,386 shares of the company's stock worth $169,000 after purchasing an additional 888 shares during the period. Central Pacific Bank Trust Division grew its holdings in shares of CCC Intelligent Solutions by 6.1% in the fourth quarter. Central Pacific Bank Trust Division now owns 16,760 shares of the company's stock valued at $197,000 after purchasing an additional 960 shares in the last quarter. Amalgamated Bank increased its stake in CCC Intelligent Solutions by 5.8% during the 3rd quarter. Amalgamated Bank now owns 23,722 shares of the company's stock worth $262,000 after buying an additional 1,299 shares during the period. Hardy Reed LLC lifted its holdings in CCC Intelligent Solutions by 7.1% during the 3rd quarter. Hardy Reed LLC now owns 21,540 shares of the company's stock worth $238,000 after buying an additional 1,430 shares in the last quarter. Finally, Hilltop National Bank boosted its position in CCC Intelligent Solutions by 21.3% in the 4th quarter. Hilltop National Bank now owns 8,386 shares of the company's stock valued at $98,000 after buying an additional 1,474 shares during the period. Hedge funds and other institutional investors own 95.79% of the company's stock.

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.