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

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) has been assigned an average rating of “Moderate Buy” from the seven analysts that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $13.14.

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. Barrington Research restated an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Finally, Piper Sandler restated a “neutral” rating and issued a $11.00 price target (down from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th.

Insider Buying and Selling

In related news, Director Crescenzo Neil E. De acquired 100,000 shares of the company’s stock in a transaction on Friday, December 20th. The shares were acquired at an average cost of $12.16 per share, for a total transaction of $1,216,000.00. Following the purchase, the director now owns 100,000 shares in the company, valued at approximately $1,216,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eric Wei sold 42,000,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.32, for a total value of $433,440,000.00. Following the transaction, the director now owns 2,258,343 shares in the company, valued at approximately $23,306,099.76. This trade represents a 94.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CCC Intelligent Solutions

Large investors have recently made changes to their positions in the business. Adero Partners LLC increased its position in shares of CCC Intelligent Solutions by 118.5% during the 3rd quarter. Adero Partners LLC now owns 5,780,925 shares of the company’s stock valued at $63,879,000 after purchasing an additional 3,135,650 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of CCC Intelligent Solutions by 45.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company’s stock valued at $1,824,000 after purchasing an additional 51,607 shares during the last quarter. Norman Fields Gottscho Capital Management LLC increased its position in shares of CCC Intelligent Solutions by 34.5% during the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 397,489 shares of the company’s stock valued at $4,663,000 after purchasing an additional 101,885 shares during the last quarter. Barclays PLC increased its position in shares of CCC Intelligent Solutions by 155.7% during the 3rd quarter. Barclays PLC now owns 109,020 shares of the company’s stock valued at $1,205,000 after purchasing an additional 66,386 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in CCC Intelligent Solutions by 12.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 558,595 shares of the company’s stock worth $6,172,000 after acquiring an additional 61,660 shares during the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Trading Up 0.9 %

NYSE:CCCS opened at $9.40 on Thursday. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 470.24 and a beta of 0.73. The firm has a fifty day simple moving average of $10.62 and a two-hundred day simple moving average of $11.13. CCC Intelligent Solutions has a 12 month low of $8.83 and a 12 month high of $12.88.

CCC Intelligent Solutions declared that its board has authorized a share repurchase plan on Friday, December 20th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.