CCC Intelligent Solutions (NYSE:CCCS) Receives “Outperform” Rating from Barrington Research

CCC Intelligent Solutions (NYSE:CCCS)‘s stock had its “outperform” rating restated by research analysts at Barrington Research in a research report issued on Tuesday, Benzinga reports. They currently have a $14.00 price objective on the stock. Barrington Research’s target price would suggest a potential upside of 31.95% from the stock’s previous close.

A number of other brokerages have also commented on CCCS. Barclays dropped their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Jefferies Financial Group lowered their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Bank of America initiated coverage on shares of CCC Intelligent Solutions in a research report on Tuesday, August 20th. They issued a “buy” rating and a $15.00 price target for the company. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, CCC Intelligent Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.56.

CCC Intelligent Solutions Price Performance

Shares of CCCS opened at $10.61 on Tuesday. The firm has a market cap of $6.61 billion, a PE ratio of 530.50, a price-to-earnings-growth ratio of 6.26 and a beta of 0.62. CCC Intelligent Solutions has a 52-week low of $9.79 and a 52-week high of $12.68. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.79 and a current ratio of 2.79. The business’s 50 day moving average price is $10.84 and its two-hundred day moving average price is $11.02.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. CCC Intelligent Solutions had a net margin of 2.36% and a return on equity of 5.16%. The business had revenue of $238.48 million during the quarter, compared to analysts’ expectations of $237.41 million. During the same period last year, the company posted $0.03 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts anticipate that CCC Intelligent Solutions will post 0.16 EPS for the current year.

Insiders Place Their Bets

In other CCC Intelligent Solutions news, insider Michael John Silva sold 29,022 shares of CCC Intelligent Solutions stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $10.75, for a total transaction of $311,986.50. Following the transaction, the insider now owns 30,172 shares of the company’s stock, valued at $324,349. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Michael John Silva sold 29,022 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $10.75, for a total transaction of $311,986.50. Following the completion of the sale, the insider now directly owns 30,172 shares of the company’s stock, valued at $324,349. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mary Jo Prigge sold 38,816 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $10.25, for a total transaction of $397,864.00. Following the completion of the transaction, the insider now directly owns 97,268 shares in the company, valued at $996,997. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 213,323 shares of company stock valued at $2,157,354. Corporate insiders own 6.67% of the company’s stock.

Institutional Investors Weigh In On CCC Intelligent Solutions

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in CCC Intelligent Solutions by 17.7% in the first quarter. Vanguard Group Inc. now owns 28,034,997 shares of the company’s stock worth $335,299,000 after buying an additional 4,225,920 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in CCC Intelligent Solutions by 37.8% during the second quarter. Principal Financial Group Inc. now owns 25,250,230 shares of the company’s stock valued at $280,530,000 after purchasing an additional 6,921,161 shares during the last quarter. Dragoneer Investment Group LLC boosted its position in CCC Intelligent Solutions by 31.5% during the second quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company’s stock worth $176,704,000 after purchasing an additional 3,809,200 shares during the period. Janus Henderson Group PLC increased its stake in shares of CCC Intelligent Solutions by 7.4% in the first quarter. Janus Henderson Group PLC now owns 12,469,424 shares of the company’s stock worth $149,133,000 after purchasing an additional 857,110 shares in the last quarter. Finally, Ghisallo Capital Management LLC bought a new stake in shares of CCC Intelligent Solutions in the second quarter valued at approximately $132,917,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.

CCC Intelligent Solutions Company Profile

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.