CCC Intelligent Solutions (NYSE:CCCS) Price Target Cut to $13.00 by Analysts at Jefferies Financial Group

CCC Intelligent Solutions (NYSE:CCCS) had its target price decreased by Jefferies Financial Group from $14.00 to $13.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Separately, Barrington Research reissued an outperform rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $13.63.

CCC Intelligent Solutions Stock Performance

NYSE CCCS opened at $10.22 on Wednesday. The firm’s 50 day simple moving average is $11.25 and its 200 day simple moving average is $11.37. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of -48.67 and a beta of 0.62. The company has a current ratio of 2.79, a quick ratio of 2.53 and a debt-to-equity ratio of 0.40. CCC Intelligent Solutions has a 1 year low of $9.97 and a 1 year high of $13.41.

CCC Intelligent Solutions (NYSE:CCCS) last released its earnings results on Tuesday, July 30th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. CCC Intelligent Solutions had a return on equity of 5.16% and a net margin of 2.36%. The firm had revenue of $232.60 million during the quarter, compared to analysts’ expectations of $230.16 million. During the same period in the prior year, the company earned $0.02 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. As a group, research analysts expect that CCC Intelligent Solutions will post 0.15 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Brian Herb sold 20,887 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total value of $213,882.88. Following the completion of the transaction, the insider now owns 217,872 shares of the company’s stock, valued at $2,231,009.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Brian Herb sold 20,887 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $10.24, for a total value of $213,882.88. Following the sale, the insider now owns 217,872 shares of the company’s stock, valued at $2,231,009.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Rodney Christo sold 4,177 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total value of $42,772.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,802,280 shares of company stock valued at $772,070,710. 6.67% of the stock is currently owned by corporate insiders.

Institutional Trading of CCC Intelligent Solutions

Several institutional investors have recently added to or reduced their stakes in CCCS. Raymond James & Associates boosted its stake in shares of CCC Intelligent Solutions by 248.7% in the 4th quarter. Raymond James & Associates now owns 556,556 shares of the company’s stock valued at $6,339,000 after purchasing an additional 396,928 shares during the last quarter. Pacer Advisors Inc. acquired a new position in CCC Intelligent Solutions in the fourth quarter valued at $457,000. Fifth Third Bancorp boosted its position in CCC Intelligent Solutions by 265.7% during the fourth quarter. Fifth Third Bancorp now owns 25,432 shares of the company’s stock valued at $290,000 after acquiring an additional 18,477 shares during the last quarter. Trust Point Inc. acquired a new stake in CCC Intelligent Solutions during the 4th quarter worth about $660,000. Finally, Arizona State Retirement System raised its position in shares of CCC Intelligent Solutions by 31.8% in the 4th quarter. Arizona State Retirement System now owns 58,938 shares of the company’s stock worth $671,000 after acquiring an additional 14,213 shares in the last quarter. 95.79% of the stock is currently 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.