CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Get Free Report) saw an uptick in trading volume on Friday . 4,484,148 shares traded hands during mid-day trading, an increase of 3% from the previous session's volume of 4,365,128 shares.The stock last traded at $10.38 and had previously closed at $10.43.
Analyst Ratings Changes
CCCS has been the subject of a number of research reports. Morgan Stanley raised shares of CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $14.00 to $15.00 in a report on Wednesday, November 13th. Piper Sandler restated a "neutral" rating and issued a $11.00 price objective (down from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th. Barrington Research reiterated an "outperform" rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and cut their price target for the company from $14.00 to $11.00 in a report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $13.38.
Get Our Latest Stock Analysis on CCC Intelligent Solutions
CCC Intelligent Solutions Price Performance
The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The firm's fifty day moving average is $11.10 and its two-hundred day moving average is $11.23. The company has a market cap of $6.41 billion, a P/E ratio of 486.99 and a beta of 0.71.
CCC Intelligent Solutions declared that its board has approved a share buyback program on Friday, December 20th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.
Insiders Place Their Bets
In related news, Director Crescenzo Neil E. De purchased 100,000 shares of the firm's stock in a transaction on Friday, December 20th. The shares were acquired at an average price of $12.16 per share, for a total transaction of $1,216,000.00. Following the purchase, the director now directly owns 100,000 shares in the company, valued at $1,216,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Rodney Christo sold 20,077 shares of the firm's stock in a transaction dated 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. 6.67% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On CCC Intelligent Solutions
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stephens Inc. AR boosted its position in shares of CCC Intelligent Solutions by 47.1% during the 3rd quarter. Stephens Inc. AR now owns 25,296 shares of the company's stock valued at $280,000 after acquiring an additional 8,103 shares during the last quarter. New York State Common Retirement Fund raised its stake in CCC Intelligent Solutions by 1.6% during the third quarter. New York State Common Retirement Fund now owns 2,371,135 shares of the company's stock valued at $26,201,000 after purchasing an additional 36,867 shares in the last quarter. Chicago Partners Investment Group LLC lifted its position in CCC Intelligent Solutions by 15.5% during the third quarter. Chicago Partners Investment Group LLC now owns 14,596 shares of the company's stock valued at $162,000 after purchasing an additional 1,957 shares during the last quarter. Janney Capital Management LLC purchased a new position in shares of CCC Intelligent Solutions in the 3rd quarter worth $321,000. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of CCC Intelligent Solutions by 67.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 340,397 shares of the company's stock worth $3,761,000 after buying an additional 136,854 shares during the last quarter. 95.79% of the stock is owned by institutional investors.
About CCC Intelligent Solutions
(
Get Free Report)
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.
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