CCC Intelligent Solutions (NYSE:CCCS) Upgraded to “Hold” by Zacks Investment Research

CCC Intelligent Solutions (NYSE:CCCSGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday, Zacks.com reports.

According to Zacks, “CCC Intelligent Solutions Inc. provides SaaS platform for the property and casualty insurance economy powering operations for insurers, repairers, automakers, part suppliers, lenders and more. CCC Intelligent Solutions Inc., formerly known as Dragoneer Growth Opportunities Corp., is based in CHICAGO. “

Several other equities research analysts have also commented on CCCS. Citigroup dropped their price target on CCC Intelligent Solutions from $13.00 to $11.00 in a research note on Friday, February 11th. The Goldman Sachs Group started coverage on CCC Intelligent Solutions in a research note on Thursday, April 28th. They set a “neutral” rating and a $11.00 price target for the company. Finally, Bank of America started coverage on CCC Intelligent Solutions in a research note on Friday. They set a “buy” rating and a $13.00 price target for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, CCC Intelligent Solutions has a consensus rating of “Hold” and an average price target of $11.25.

CCC Intelligent Solutions stock traded down $0.23 during trading on Monday, hitting $9.45. The company’s stock had a trading volume of 986,972 shares, compared to its average volume of 1,163,581. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 4.59 and a beta of 1.11. The stock’s fifty day moving average is $9.35 and its 200 day moving average is $10.37. CCC Intelligent Solutions has a 1-year low of $7.41 and a 1-year high of $13.46. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.30 and a current ratio of 2.30.

In other news, Director Eric Wei sold 17,506,195 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $76,457,400.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.81% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Psagot Value Holdings Ltd. Israel boosted its position in shares of CCC Intelligent Solutions by 128.5% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 2,324 shares of the company’s stock worth $301,000 after buying an additional 1,307 shares during the period. Quantbot Technologies LP boosted its holdings in CCC Intelligent Solutions by 252.1% in the first quarter. Quantbot Technologies LP now owns 5,735 shares of the company’s stock valued at $63,000 after purchasing an additional 4,106 shares during the last quarter. Royal Bank of Canada boosted its holdings 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 valued at $85,000 after purchasing an additional 5,658 shares during the last quarter. Bank of America Corp DE boosted its holdings in CCC Intelligent Solutions by 29,971.4% in the fourth quarter. Bank of America Corp DE now owns 8,420 shares of the company’s stock valued at $96,000 after purchasing an additional 8,392 shares during the last quarter. Finally, Bluefin Capital Management LLC purchased a new position in CCC Intelligent Solutions in the fourth quarter valued at about $139,000. 92.03% of the stock is owned by institutional investors.

About CCC Intelligent Solutions (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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