CCC Intelligent Solutions (NYSE:CCCS) Research Coverage Started at Bank of America

Stock analysts at Bank of America initiated coverage on shares of CCC Intelligent Solutions (NYSE:CCCS) in a research note issued on Tuesday, StockNewsAPI reports. The firm set a “buy” rating and a $15.00 price target on the stock. Bank of America‘s price target suggests a potential upside of 39.93% from the company’s current price.

A number of other research firms have also commented on CCCS. Barrington Research reiterated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, July 31st. Jefferies Financial Group reduced their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.78.

CCC Intelligent Solutions Price Performance

CCC Intelligent Solutions stock traded up $0.18 during mid-day trading on Tuesday, hitting $10.72. 295,985 shares of the company traded hands, compared to its average volume of 3,690,497. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of -51.10 and a beta of 0.62. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.53 and a current ratio of 2.79. CCC Intelligent Solutions has a one year low of $9.79 and a one year high of $13.41. The stock has a fifty day moving average price of $10.98 and a 200-day moving average price of $11.32.

CCC Intelligent Solutions (NYSE:CCCS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $232.60 million during the quarter, compared to analyst estimates of $230.16 million. CCC Intelligent Solutions had a net margin of 2.36% and a return on equity of 5.16%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.02 EPS. On average, equities analysts predict that CCC Intelligent Solutions will post 0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at CCC Intelligent Solutions

In other news, insider Githesh Ramamurthy sold 1,000,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $11.78, for a total value of $11,780,000.00. Following the transaction, the insider now owns 6,463,840 shares in the company, valued at approximately $76,144,035.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other CCC Intelligent Solutions news, insider Githesh Ramamurthy sold 1,000,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $11.78, for a total transaction of $11,780,000.00. Following the transaction, the insider now owns 6,463,840 shares of the company’s stock, valued at $76,144,035.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director International L.P. Advent sold 41,622,992 shares of CCC Intelligent Solutions stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $11.43, for a total transaction of $475,750,798.56. Following the sale, the director now owns 3,812,112 shares in the company, valued at approximately $43,572,440.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,886,581 shares of company stock worth $772,766,077. Company insiders own 6.67% of the company’s stock.

Institutional Investors Weigh In On CCC Intelligent Solutions

Large investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise boosted its stake in CCC Intelligent Solutions by 128.4% during the first quarter. Banque Cantonale Vaudoise now owns 2,533 shares of the company’s stock worth $30,000 after buying an additional 1,424 shares during the period. American International Group Inc. boosted its stake in CCC Intelligent Solutions by 68.6% during the first quarter. American International Group Inc. now owns 2,789 shares of the company’s stock worth $33,000 after buying an additional 1,135 shares during the period. CWM LLC boosted its stake in CCC Intelligent Solutions by 352.6% during the second quarter. CWM LLC now owns 3,105 shares of the company’s stock worth $34,000 after buying an additional 2,419 shares during the period. Twin Tree Management LP purchased a new position in CCC Intelligent Solutions during the first quarter worth $53,000. Finally, Parkside Financial Bank & Trust purchased a new position in CCC Intelligent Solutions during the fourth quarter worth $99,000. Institutional investors own 95.79% of the company’s stock.

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.