CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives $13.14 Consensus Target Price from Brokerages

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the seven research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $13.14.

A number of analysts recently weighed in on CCCS shares. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. Piper Sandler reiterated a "neutral" rating and issued a $11.00 price objective (down previously from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. Finally, Barrington Research reissued an "outperform" rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, February 24th.

CCC Intelligent Solutions Price Performance

Shares of CCCS traded up $0.18 during midday trading on Monday, hitting $8.99. 6,643,229 shares of the company traded hands, compared to its average volume of 4,569,625. CCC Intelligent Solutions has a one year low of $8.14 and a one year high of $12.88. The firm has a market cap of $5.91 billion, a P/E ratio of 449.72 and a beta of 0.77. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The stock has a 50-day moving average of $9.64 and a 200-day moving average of $10.85.

CCC Intelligent Solutions declared that its board has initiated a share repurchase program on Friday, December 20th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to repurchase up to 4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Insider Activity

In other CCC Intelligent Solutions news, Director Eric Wei sold 42,000,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.32, for a total value of $433,440,000.00. Following the sale, the director now owns 2,258,343 shares of the company's stock, valued at $23,306,099.76. This trade represents a 94.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Rodney Christo sold 20,077 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.20, for a total value of $204,785.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,087,456 shares of company stock worth $434,240,401. 6.67% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CCC Intelligent Solutions

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