Analysts Set CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Target Price at $13.38

Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Get Free Report) have earned an average recommendation of "Moderate Buy" from the seven brokerages that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $13.14.

A number of analysts have recently issued reports on CCCS shares. JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $14.00 to $11.00 in a report on Wednesday, February 26th. Piper Sandler reaffirmed a "neutral" rating and set a $11.00 price target (down previously from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a report on Monday, February 24th.

Insider Buying and Selling

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De acquired 100,000 shares of the company's stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the acquisition, the director now owns 100,000 shares in the company, valued at $1,216,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rodney Christo sold 20,077 shares of CCC Intelligent Solutions stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.20, for a total transaction of $204,785.40. The disclosure for this sale can be found here. 6.67% of the stock is currently owned by insiders.

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Hedge Funds Weigh In On CCC Intelligent Solutions

Several large investors have recently added to or reduced their stakes in CCCS. Price T Rowe Associates Inc. MD lifted its holdings in CCC Intelligent Solutions by 4,172.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,837,354 shares of the company's stock valued at $115,394,000 after purchasing an additional 9,607,085 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in CCC Intelligent Solutions during the fourth quarter valued at approximately $58,080,000. Wasatch Advisors LP lifted its holdings in CCC Intelligent Solutions by 49.1% during the third quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company's stock valued at $158,358,000 after purchasing an additional 4,716,587 shares in the last quarter. Norges Bank bought a new stake in shares of CCC Intelligent Solutions during the fourth quarter valued at approximately $50,032,000. Finally, T. Rowe Price Investment Management Inc. increased its position in CCC Intelligent Solutions by 6.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 68,866,717 shares of the company's stock valued at $807,807,000 after acquiring an additional 4,060,284 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company's stock.

CCC Intelligent Solutions Stock Up 1.2 %

NYSE:CCCS traded up $0.11 on Thursday, reaching $9.32. 12,027,580 shares of the stock traded hands, compared to its average volume of 3,972,673. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 466.23 and a beta of 0.73. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions has a 12 month low of $8.83 and a 12 month high of $12.88. The company's fifty day simple moving average is $10.66 and its 200 day simple moving average is $11.14.

CCC Intelligent Solutions declared that its board has initiated a share repurchase program on Friday, December 20th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its stock is undervalued.

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.