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

Investment analysts at Bank of America began coverage on shares of CCC Intelligent Solutions (NYSE:CCCSGet Rating) in a report issued on Friday, The Fly reports. The firm set a “buy” rating on the stock.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research raised CCC Intelligent Solutions from a “sell” rating to a “hold” rating in a report on Tuesday. Citigroup decreased their price objective on CCC Intelligent Solutions from $13.00 to $11.00 in a report on Friday, February 11th. Finally, The Goldman Sachs Group started coverage on CCC Intelligent Solutions in a report on Thursday, April 28th. They issued a “neutral” rating and a $11.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.90.

NYSE CCCS opened at $9.47 on Friday. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 4.60 and a beta of 1.11. CCC Intelligent Solutions has a one year low of $7.41 and a one year high of $13.46. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.30 and a quick ratio of 2.30. The business’s fifty day moving average is $9.37 and its 200-day moving average is $10.44.

CCC Intelligent Solutions (NYSE:CCCSGet Rating) last announced its quarterly earnings data on Tuesday, March 1st. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. CCC Intelligent Solutions had a negative return on equity of 1.57% and a negative net margin of 32.32%. The company had revenue of $187.08 million during the quarter, compared to analyst estimates of $181.84 million. Research analysts expect that CCC Intelligent Solutions will post 0.26 EPS for the current fiscal year.

In other CCC Intelligent Solutions news, Director Eric Wei sold 17,506,195 shares of the business’s stock in a transaction that occurred on Monday, April 11th. The stock was sold at an average price of $9.28, for a total value of $162,457,489.60. Following the completion of the sale, the director now owns 8,238,944 shares in the company, valued at $76,457,400.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.81% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of CCC Intelligent Solutions during the first quarter valued at approximately $523,000. Capital World Investors purchased a new position in shares of CCC Intelligent Solutions during the first quarter valued at approximately $23,681,000. Jane Street Group LLC purchased a new stake in CCC Intelligent Solutions in the first quarter worth $1,589,000. Quantbot Technologies LP grew its stake in CCC Intelligent Solutions by 252.1% in the first quarter. Quantbot Technologies LP now owns 5,735 shares of the company’s stock worth $63,000 after purchasing an additional 4,106 shares during the period. Finally, Royal Bank of Canada grew its stake in CCC Intelligent Solutions by 277.6% in the first quarter. Royal Bank of Canada now owns 7,696 shares of the company’s stock worth $85,000 after purchasing an additional 5,658 shares during the period. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Company Profile (Get Rating)

CCC Intelligent Solutions Holdings Inc provides cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. It SaaS platform digitizes mission-critical AI-enabled workflows, facilitates commerce, and connects businesses across the insurance economy, including insurance carriers, collision repairers, parts suppliers, automotive manufactures, financial institution, and others.

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