CCC Intelligent Solutions (NYSE:CCCS) Upgraded by Morgan Stanley to Overweight Rating

Morgan Stanley upgraded shares of CCC Intelligent Solutions (NYSE:CCCS - Free Report) from an equal weight rating to an overweight rating in a research note released on Wednesday, Marketbeat.com reports. Morgan Stanley currently has $15.00 price target on the stock, up from their prior price target of $14.00.

CCCS has been the topic of a number of other reports. Barclays dropped their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 29th. Jefferies Financial Group dropped their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a "buy" rating for the company in a research note on Wednesday, July 31st. Bank of America initiated coverage on shares of CCC Intelligent Solutions in a research report on Tuesday, August 20th. They issued a "buy" rating and a $15.00 price objective for the company. JPMorgan Chase & Co. dropped their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 29th. Finally, Barrington Research reiterated an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $13.78.

CCC Intelligent Solutions Price Performance

Shares of NYSE:CCCS traded up $0.28 on Wednesday, reaching $11.78. 4,851,894 shares of the company traded hands, compared to its average volume of 3,407,916. 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 market capitalization of $7.37 billion, a PE ratio of 76.67, a P/E/G ratio of 6.60 and a beta of 0.63. The company's 50 day moving average is $10.89 and its 200-day moving average is $10.98. CCC Intelligent Solutions has a fifty-two week low of $9.79 and a fifty-two week high of $12.68.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $238.48 million for the quarter, compared to the consensus estimate of $237.41 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 EPS. As a group, analysts anticipate that CCC Intelligent Solutions will post 0.16 earnings per share for the current fiscal year.

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider Githesh Ramamurthy sold 8,805 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $11.50, for a total transaction of $101,257.50. Following the transaction, the insider now owns 4,798,040 shares of the company's stock, valued at $55,177,460. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Githesh Ramamurthy sold 8,805 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $11.50, for a total value of $101,257.50. Following the transaction, the insider now owns 4,798,040 shares of the company's stock, valued at approximately $55,177,460. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael John Silva sold 29,022 shares of the business's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $10.75, for a total transaction of $311,986.50. Following the completion of the sale, the insider now directly owns 30,172 shares of the company's stock, valued at $324,349. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,175 shares of company stock worth $520,746 in the last 90 days. Corporate insiders own 6.67% of the company's stock.

Institutional Trading of CCC Intelligent Solutions

Institutional investors have recently added to or reduced their stakes in the stock. Ghisallo Capital Management LLC acquired a new position in CCC Intelligent Solutions during the second quarter worth $132,917,000. Akre Capital Management LLC purchased a new stake in CCC Intelligent Solutions during the first quarter valued at about $83,720,000. Principal Financial Group Inc. raised its position in CCC Intelligent Solutions by 37.8% in the 2nd quarter. Principal Financial Group Inc. now owns 25,250,230 shares of the company's stock worth $280,530,000 after purchasing an additional 6,921,161 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in CCC Intelligent Solutions in the second quarter valued at approximately $70,844,000. Finally, Van Berkom & Associates Inc. purchased a new position in shares of CCC Intelligent Solutions during the second quarter valued at approximately $61,605,000. 95.79% of the stock is currently owned by 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.