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

Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $14.00.

CCCS has been the subject of a number of analyst reports. Barrington Research reissued an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. JPMorgan Chase & Co. boosted their target price 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. Piper Sandler restated a "neutral" rating and set a $13.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Morgan Stanley raised shares of CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $14.00 to $15.00 in a research report on Wednesday, November 13th. Finally, Barclays lowered 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 report on Tuesday, October 29th.

CCC Intelligent Solutions Trading Down 1.6 %

NYSE CCCS traded down $0.18 on Friday, reaching $10.59. 3,028,391 shares of the company were exchanged, compared to its average volume of 4,018,527. 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 current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The business's fifty day moving average price is $11.41 and its 200 day moving average price is $11.22. The stock has a market capitalization of $6.95 billion, a P/E ratio of 529.51 and a beta of 0.71.

CCC Intelligent Solutions announced that its Board of Directors has initiated a share repurchase plan on Friday, December 20th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De purchased 100,000 shares of the company's stock in a transaction on Friday, December 20th. The stock was acquired at an average price of $12.16 per share, for a total transaction of $1,216,000.00. Following the completion of the purchase, the director now directly owns 100,000 shares in the company, valued at approximately $1,216,000. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Rodney Christo sold 9,916 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $12.67, for a total value of $125,635.72. The disclosure for this sale can be found here. Insiders have sold 175,000 shares of company stock worth $2,195,379 over the last ninety days. Corporate insiders own 6.67% of the company's stock.

Institutional Trading of CCC Intelligent Solutions

Large investors have recently made changes to their positions in the company. Cache Advisors LLC acquired a new position in CCC Intelligent Solutions during the 4th quarter worth approximately $1,362,000. Squarepoint Ops LLC lifted its position in shares of CCC Intelligent Solutions by 736.2% during the 4th quarter. Squarepoint Ops LLC now owns 141,091 shares of the company's stock worth $1,655,000 after purchasing an additional 124,218 shares during the last quarter. Twinbeech Capital LP acquired a new position in shares of CCC Intelligent Solutions during the fourth quarter worth $489,000. TPG GP A LLC increased its holdings in CCC Intelligent Solutions by 17.3% in the fourth quarter. TPG GP A LLC now owns 4,087,220 shares of the company's stock valued at $47,943,000 after buying an additional 602,959 shares during the last quarter. Finally, State of Wyoming raised its stake in CCC Intelligent Solutions by 26.7% in the fourth quarter. State of Wyoming now owns 17,680 shares of the company's stock valued at $207,000 after buying an additional 3,731 shares in the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

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.