Analysts Set CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Target Price at $13.78

Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) have been given an average recommendation of “Moderate Buy” by the nine brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $13.78.

A number of analysts recently weighed in on CCCS shares. JPMorgan Chase & Co. dropped their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $14.00 to $15.00 in a research note on Wednesday, November 13th. Bank of America started coverage on CCC Intelligent Solutions in a research note on Tuesday, August 20th. They issued a “buy” rating and a $15.00 target price on the stock. Barrington Research restated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Finally, Barclays dropped their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th.

CCC Intelligent Solutions Stock Performance

Shares of CCC Intelligent Solutions stock opened at $12.74 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The stock’s 50-day moving average is $11.38 and its 200-day moving average is $11.14. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 637.32, a price-to-earnings-growth ratio of 6.91 and a beta of 0.71. CCC Intelligent Solutions has a one year low of $9.79 and a one year high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $238.48 million during the quarter, compared to analysts’ expectations of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 EPS. Equities analysts predict that CCC Intelligent Solutions will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Githesh Ramamurthy sold 9,348 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $11.50, for a total value of $107,502.00. Following the transaction, the insider now directly owns 4,798,040 shares of the company’s stock, valued at approximately $55,177,460. The trade was a 0.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mary Jo Prigge sold 2,489 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $12.00, for a total value of $29,868.00. Following the transaction, the insider now directly owns 97,268 shares of the company’s stock, valued at approximately $1,167,216. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 443,153 shares of company stock valued at $5,390,863. Insiders own 6.67% of the company’s stock.

Institutional Investors Weigh In On CCC Intelligent Solutions

Several institutional investors have recently made changes to their positions in the company. Dragoneer Investment Group LLC grew its position in CCC Intelligent Solutions by 31.5% in the 2nd quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company’s stock valued at $176,704,000 after acquiring an additional 3,809,200 shares during the last quarter. Adero Partners LLC boosted its holdings in shares of CCC Intelligent Solutions by 118.5% in the third 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 period. Harbor Capital Advisors Inc. grew its position in shares of CCC Intelligent Solutions by 200.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 203,543 shares of the company’s stock worth $2,261,000 after buying an additional 135,710 shares in the last quarter. Element Capital Management LLC bought a new position in CCC Intelligent Solutions during the 2nd quarter worth about $7,941,000. Finally, Teca Partners LP increased its holdings in CCC Intelligent Solutions by 21.8% during the second quarter. Teca Partners LP now owns 2,361,183 shares of the company’s stock valued at $26,233,000 after buying an additional 422,768 shares during the period. Institutional investors own 95.79% of the company’s stock.

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.