CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives $13.89 Average Target Price from Analysts

Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the nine brokerages that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $13.89.

A number of research analysts have recently issued reports on the company. Barrington Research reiterated an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Piper Sandler reiterated a "neutral" rating and issued a $13.00 target price on shares of CCC Intelligent Solutions in a research note on Wednesday, December 11th. JPMorgan Chase & Co. increased their price target on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Morgan Stanley raised shares of CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $14.00 to $15.00 in a research report on Wednesday, November 13th. Finally, Barclays decreased their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 29th.

CCC Intelligent Solutions Stock Up 0.6 %

Shares of CCCS stock traded up $0.07 during mid-day trading on Friday, hitting $11.95. The stock had a trading volume of 1,736,182 shares, compared to its average volume of 3,418,814. The firm has a market capitalization of $7.47 billion, a P/E ratio of 597.80, a price-to-earnings-growth ratio of 6.80 and a beta of 0.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. CCC Intelligent Solutions has a 12-month low of $9.79 and a 12-month high of $12.88. The firm's 50-day moving average is $11.81 and its two-hundred day moving average is $11.21.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $238.48 million during the quarter, compared to analyst estimates of $237.41 million. During the same period in the prior year, the firm earned $0.03 earnings per share. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts predict that CCC Intelligent Solutions will post 0.17 earnings per share for the current fiscal year.

CCC Intelligent Solutions announced that its Board of Directors has approved a stock repurchase plan on Friday, December 20th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to purchase up to 4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Insider Transactions at CCC Intelligent Solutions

In other 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 transaction of $1,171,107.11. Following the completion of the transaction, the insider now directly owns 97,268 shares of the company's stock, valued at $1,168,188.68. The trade was a 50.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Crescenzo Neil E. De purchased 100,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average cost of $12.16 per share, for a total transaction of $1,216,000.00. Following the completion of the acquisition, the director now directly owns 100,000 shares of the company's stock, valued at $1,216,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 443,153 shares of company stock worth $5,390,863 over the last 90 days. 6.67% of the stock is currently owned by company insiders.

Institutional Trading of CCC Intelligent Solutions

Several institutional investors have recently bought and sold shares of the business. Dragoneer Investment Group LLC lifted its position in shares of CCC Intelligent Solutions by 31.5% during the 2nd quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company's stock valued at $176,704,000 after buying an additional 3,809,200 shares in the last quarter. Adero Partners LLC lifted its holdings in CCC Intelligent Solutions by 118.5% during the third quarter. Adero Partners LLC now owns 5,780,925 shares of the company's stock valued at $63,879,000 after purchasing an additional 3,135,650 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew 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 valued at $1,824,000 after purchasing an additional 51,607 shares during the period. Element Capital Management LLC purchased a new stake in shares of CCC Intelligent Solutions during the second quarter worth about $7,941,000. Finally, Teca Partners LP raised its position in shares of CCC Intelligent Solutions by 21.8% during the 2nd quarter. Teca Partners LP now owns 2,361,183 shares of the company's stock worth $26,233,000 after purchasing an additional 422,768 shares during the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

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.