JPMorgan Chase & Co. Cuts CCC Intelligent Solutions (NYSE:CCCS) Price Target to $13.00

CCC Intelligent Solutions (NYSE:CCCS - Free Report) had its price target cut by JPMorgan Chase & Co. from $14.00 to $13.00 in a research note published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms also recently commented on CCCS. Barclays reduced their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Tuesday. Jefferies Financial Group cut their price target 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. Barrington Research reiterated an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Tuesday. Finally, Bank of America started coverage on CCC Intelligent Solutions in a report on Tuesday, August 20th. They issued a "buy" rating and a $15.00 target price for the company. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, CCC Intelligent Solutions presently has a consensus rating of "Moderate Buy" and an average target price of $13.56.

CCC Intelligent Solutions Stock Performance

CCCS stock traded down $0.02 during trading on Tuesday, reaching $10.93. 4,983,156 shares of the stock were exchanged, compared to its average volume of 3,447,256. CCC Intelligent Solutions has a twelve month low of $9.79 and a twelve month high of $12.68. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $6.80 billion, a P/E ratio of -52.05, a price-to-earnings-growth ratio of 6.26 and a beta of 0.62. The stock has a 50 day simple moving average of $10.85 and a 200-day simple moving average of $11.02.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $238.48 million for the quarter, compared to analyst estimates of $237.41 million. CCC Intelligent Solutions had a return on equity of 5.16% and a net margin of 2.36%. CCC Intelligent Solutions's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 EPS. As a group, sell-side analysts anticipate that CCC Intelligent Solutions will post 0.16 earnings per share for the current year.

Insider Transactions at CCC Intelligent Solutions

In related news, CAO Rodney Christo sold 4,177 shares of the company's stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $10.24, for a total transaction of $42,772.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Brian Herb sold 20,887 shares of CCC Intelligent Solutions stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total value of $213,882.88. Following the completion of the sale, the insider now directly owns 217,872 shares of the company's stock, valued at approximately $2,231,009.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Rodney Christo sold 4,177 shares of the business's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total value of $42,772.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 238,387 shares of company stock worth $2,414,009. 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 added to or reduced their stakes in CCCS. Maryland State Retirement & Pension System boosted its stake in CCC Intelligent Solutions by 104.1% in the first quarter. Maryland State Retirement & Pension System now owns 26,562 shares of the company's stock valued at $306,000 after acquiring an additional 13,548 shares during the last quarter. Capstone Investment Advisors LLC grew its stake in shares of CCC Intelligent Solutions by 47.7% during the first quarter. Capstone Investment Advisors LLC now owns 43,299 shares of the company's stock worth $518,000 after purchasing an additional 13,979 shares during the period. Gilbert & Cook Inc. bought a new stake in CCC Intelligent Solutions in the first quarter valued at about $168,000. Hardy Reed LLC lifted its stake in CCC Intelligent Solutions by 40.1% in the first quarter. Hardy Reed LLC now owns 18,800 shares of the company's stock valued at $225,000 after buying an additional 5,385 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new position in CCC Intelligent Solutions in the first quarter valued at about $243,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

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.