CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives Consensus Rating of “Moderate Buy” from Brokerages

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $13.89.

Several research firms recently issued reports 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 research note on Tuesday, October 29th. Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $14.00 to $15.00 in a research note on Wednesday, November 13th. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 target price on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th. JPMorgan Chase & Co. increased their price target on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Barrington Research restated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th.

CCC Intelligent Solutions Stock Performance

NYSE:CCCS opened at $11.36 on Wednesday. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 568.28 and a beta of 0.72. CCC Intelligent Solutions has a twelve month low of $9.79 and a twelve month high of $12.88. The company has a 50-day moving average of $11.91 and a 200-day moving average of $11.22. 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 (NYSE:CCCS) last issued its earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $238.48 million during 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%. CCC Intelligent Solutions’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 earnings per share. Analysts forecast that CCC Intelligent Solutions will post 0.17 earnings per share for the current fiscal year.

CCC Intelligent Solutions declared that its board has approved a share repurchase program on Friday, December 20th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to buy up to 4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De purchased 100,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was purchased at an average cost of $12.16 per share, for a total transaction of $1,216,000.00. Following the acquisition, the director now owns 100,000 shares in the company, valued at approximately $1,216,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Rodney Christo sold 75,000 shares of CCC Intelligent Solutions stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $11.80, for a total transaction of $885,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 443,153 shares of company stock worth $5,390,863. Corporate insiders own 6.67% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in shares of CCC Intelligent Solutions by 4.9% during the 3rd quarter. Principal Financial Group Inc. now owns 26,484,511 shares of the company’s stock worth $292,654,000 after purchasing an additional 1,234,281 shares during the last quarter. Dragoneer Investment Group LLC grew its holdings in CCC Intelligent Solutions by 31.5% during the second quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company’s stock valued at $176,704,000 after purchasing an additional 3,809,200 shares during the period. Wasatch Advisors LP increased its position in CCC Intelligent Solutions by 49.1% in the third quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company’s stock worth $158,358,000 after buying an additional 4,716,587 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of CCC Intelligent Solutions by 29.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 12,261,035 shares of the company’s stock valued at $143,822,000 after buying an additional 2,752,950 shares during the period. Finally, Ghisallo Capital Management LLC purchased a new position in shares of CCC Intelligent Solutions during the 2nd quarter valued at $132,917,000. 95.79% of the stock is owned by institutional investors.

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.