CCC Intelligent Solutions (NYSE:CCCS) Given New $13.00 Price Target at Barclays

CCC Intelligent Solutions (NYSE:CCCS) had its target price trimmed by Barclays from $14.00 to $13.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Jefferies Financial Group dropped their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Barrington Research restated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Wednesday, July 31st. Finally, Bank of America assumed coverage on CCC Intelligent Solutions in a research note on Tuesday, August 20th. They issued a “buy” rating and a $15.00 target price for the company. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, CCC Intelligent Solutions has an average rating of “Moderate Buy” and a consensus target price of $13.56.

CCC Intelligent Solutions Stock Performance

Shares of CCCS opened at $10.47 on Tuesday. The stock’s 50-day simple moving average is $10.83 and its 200 day simple moving average is $11.00. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 523.76, a price-to-earnings-growth ratio of 6.15 and a beta of 0.62. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.79 and a current ratio of 3.19. CCC Intelligent Solutions has a 52-week low of $9.79 and a 52-week high of $12.68.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings results on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $238.48 million for the quarter, compared to analysts’ expectations of $237.41 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 EPS. Research analysts forecast that CCC Intelligent Solutions will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Eileen Schloss sold 99,925 shares of CCC Intelligent Solutions stock in a transaction on Monday, August 5th. The stock was sold at an average price of $9.89, for a total value of $988,258.25. Following the completion of the sale, the director now owns 54,047 shares of the company’s stock, valued at approximately $534,524.83. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other CCC Intelligent Solutions news, insider Michael John Silva sold 29,022 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $10.75, for a total transaction of $311,986.50. Following the completion of the sale, the insider now owns 30,172 shares of the company’s stock, valued at approximately $324,349. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eileen Schloss sold 99,925 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $9.89, for a total value of $988,258.25. Following the sale, the director now directly owns 54,047 shares of the company’s stock, valued at $534,524.83. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 213,323 shares of company stock worth $2,157,354. 6.67% of the stock is owned by insiders.

Hedge Funds Weigh In On CCC Intelligent Solutions

A number of hedge funds have recently made changes to their positions in the business. 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 valued at $33,000 after buying an additional 1,135 shares during the last quarter. CWM LLC lifted its stake in shares of CCC Intelligent Solutions by 352.6% in the 2nd quarter. CWM LLC now owns 3,105 shares of the company’s stock valued at $34,000 after purchasing an additional 2,419 shares during the last quarter. Twin Tree Management LP purchased a new stake in shares of CCC Intelligent Solutions in the first quarter worth approximately $53,000. Quarry LP raised its holdings in shares of CCC Intelligent Solutions by 304.0% in the second quarter. Quarry LP now owns 11,219 shares of the company’s stock worth $125,000 after buying an additional 8,442 shares during the period. Finally, Parkside Financial Bank & Trust increased its holdings in CCC Intelligent Solutions by 15.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 11,849 shares of the company’s stock worth $132,000 after purchasing an additional 1,564 shares during the period. Institutional investors own 95.79% of the company’s stock.

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.