CCC Intelligent Solutions (NYSE:CCCS) Reaches New 1-Year Low - Should You Sell?

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Get Free Report) hit a new 52-week low on Monday . The company traded as low as $8.68 and last traded at $8.93, with a volume of 1664994 shares. The stock had previously closed at $8.92.

Analysts Set New Price Targets

CCCS has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $14.00 to $11.00 in a report on Wednesday, February 26th. Barrington Research restated an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $11.00 target price (down from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $13.14.

CCC Intelligent Solutions Trading Down 0.8 %

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 firm has a fifty day simple moving average of $10.04 and a two-hundred day simple moving average of $10.98. The firm has a market capitalization of $5.60 billion, a P/E ratio of 426.21 and a beta of 0.73.

Remove Ads

CCC Intelligent Solutions announced that its Board of Directors has authorized a stock repurchase program on Friday, December 20th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to reacquire up to 4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its stock is undervalued.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Eileen Schloss sold 34,055 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $8.98, for a total transaction of $305,813.90. Following the sale, the director now owns 54,047 shares of the company's stock, valued at $485,342.06. The trade was a 38.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Rodney Christo sold 5,846 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $9.15, for a total value of $53,490.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,059,978 shares of company stock worth $434,004,090. Company insiders own 6.67% of the company's stock.

Institutional Trading of CCC Intelligent Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in CCCS. Teachers Retirement System of The State of Kentucky increased its position in shares of CCC Intelligent Solutions by 45.5% during 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 buying an additional 51,607 shares during the period. Norman Fields Gottscho Capital Management LLC increased its holdings in CCC Intelligent Solutions by 34.5% during the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 397,489 shares of the company's stock worth $4,663,000 after acquiring an additional 101,885 shares during the period. Barclays PLC increased its holdings in CCC Intelligent Solutions by 155.7% during the 3rd quarter. Barclays PLC now owns 109,020 shares of the company's stock worth $1,205,000 after acquiring an additional 66,386 shares during the period. HighTower Advisors LLC lifted its stake in CCC Intelligent Solutions by 1,355.0% in the 3rd quarter. HighTower Advisors LLC now owns 602,797 shares of the company's stock worth $6,662,000 after purchasing an additional 561,367 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in CCC Intelligent Solutions by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 453,911 shares of the company's stock valued at $5,016,000 after purchasing an additional 85,725 shares during the period. 95.79% of the stock is currently owned by institutional investors.

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.