CCC Intelligent Solutions (NYSE:CCCS) Earns Neutral Rating from Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of CCC Intelligent Solutions (NYSE:CCCS - Free Report) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $13.00 target price on the stock.

Several other research firms also recently weighed in on CCCS. Barclays reduced their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Tuesday, October 29th. Bank of America assumed coverage on shares of CCC Intelligent Solutions in a report on Tuesday, August 20th. They issued a "buy" rating and a $15.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an "overweight" rating in a research report on Monday. 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. Finally, Barrington Research reissued an "outperform" rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, CCC Intelligent Solutions has an average rating of "Moderate Buy" and an average price target of $13.89.

CCC Intelligent Solutions Stock Down 1.0 %

Shares of CCCS stock traded down $0.13 on Wednesday, reaching $12.34. 3,985,270 shares of the stock were exchanged, compared to its average volume of 3,392,156. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 623.50, a PEG ratio of 6.98 and a beta of 0.70. The business's 50 day moving average price is $11.51 and its 200 day moving average price is $11.17. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions has a twelve month low of $9.79 and a twelve month high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last released 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. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The business had revenue of $238.48 million during the quarter, compared to analysts' expectations of $237.41 million. During the same period in the prior year, the firm posted $0.03 EPS. The business's quarterly revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts expect that CCC Intelligent Solutions will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at CCC Intelligent Solutions

In related news, CAO Rodney Christo sold 9,916 shares of CCC Intelligent Solutions stock in a transaction on Monday, November 25th. The stock was sold at an average price of $12.67, for a total transaction of $125,635.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mary Jo Prigge sold 19,276 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $12.67, for a total value of $244,226.92. Following the completion of the sale, the insider now directly owns 97,268 shares in the company, valued at $1,232,385.56. This trade represents a 16.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 443,153 shares of company stock valued at $5,390,863. 6.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On CCC Intelligent Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. lifted its stake in CCC Intelligent Solutions by 153.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company's stock valued at $32,000 after buying an additional 1,729 shares in the last quarter. CWM LLC raised its holdings in shares of CCC Intelligent Solutions by 352.6% in the second quarter. CWM LLC now owns 3,105 shares of the company's stock worth $34,000 after acquiring an additional 2,419 shares during the last quarter. Huntington National Bank lifted its position in shares of CCC Intelligent Solutions by 37.6% in the third quarter. Huntington National Bank now owns 5,852 shares of the company's stock valued at $65,000 after acquiring an additional 1,599 shares in the last quarter. Marco Investment Management LLC acquired a new stake in shares of CCC Intelligent Solutions during the third quarter valued at $113,000. Finally, KBC Group NV increased its position in CCC Intelligent Solutions by 81.7% during the 3rd quarter. KBC Group NV now owns 10,314 shares of the company's stock worth $114,000 after purchasing an additional 4,637 shares in the last quarter. 95.79% of the stock is currently owned by hedge funds and other 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.