CCC Intelligent Solutions (NYSE:CCCS) Price Target Cut to $13.00 by Analysts at JPMorgan Chase & Co.

CCC Intelligent Solutions (NYSE:CCCS) had its price objective dropped by analysts at JPMorgan Chase & Co. from $14.00 to $13.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 22.53% from the stock’s current price.

A number of other research firms have also recently commented on CCCS. Bank of America started coverage on CCC Intelligent Solutions in a report on Tuesday, August 20th. They issued a “buy” rating and a $15.00 price target on the stock. Barrington Research restated an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Tuesday. Barclays reduced their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Jefferies Financial Group cut their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, CCC Intelligent Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.56.

CCC Intelligent Solutions Stock Down 2.9 %

Shares of CCCS stock opened at $10.61 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.79 and a quick ratio of 2.79. CCC Intelligent Solutions has a one year low of $9.79 and a one year high of $12.68. The company’s fifty day moving average price is $10.84 and its 200-day moving average price is $11.02. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 530.50, a PEG ratio of 6.26 and a beta of 0.62.

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

Insider Transactions at CCC Intelligent Solutions

In related news, insider Michael John Silva sold 29,022 shares of CCC Intelligent Solutions stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $10.75, for a total value of $311,986.50. Following the completion of the transaction, the insider now owns 30,172 shares in the company, valued at approximately $324,349. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related 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 value of $311,986.50. Following the completion of the sale, the insider now directly owns 30,172 shares in the company, valued at $324,349. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eileen Schloss sold 99,925 shares of CCC Intelligent Solutions stock in a transaction on Monday, August 5th. The stock was sold at an average price of $9.89, for a total transaction of $988,258.25. Following the transaction, the director now directly owns 54,047 shares of the company’s stock, valued at $534,524.83. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 213,323 shares of company stock worth $2,157,354 in the last three months. Insiders own 6.67% of the company’s stock.

Institutional Trading of CCC Intelligent Solutions

Several institutional investors have recently added to or reduced their stakes in CCCS. American International Group Inc. grew its stake in shares of CCC Intelligent Solutions by 68.6% during the first quarter. American International Group Inc. now owns 2,789 shares of the company’s stock valued at $33,000 after buying an additional 1,135 shares during the last quarter. CWM LLC boosted its holdings in CCC Intelligent Solutions by 352.6% during the 2nd quarter. CWM LLC now owns 3,105 shares of the company’s stock valued at $34,000 after acquiring an additional 2,419 shares during the period. Twin Tree Management LP bought a new position in CCC Intelligent Solutions in the 1st quarter valued at $53,000. Quarry LP increased its stake in CCC Intelligent Solutions by 304.0% in the second quarter. Quarry LP now owns 11,219 shares of the company’s stock worth $125,000 after purchasing an additional 8,442 shares during the period. Finally, Parkside Financial Bank & Trust lifted its position in shares of CCC Intelligent Solutions by 15.2% during the second quarter. Parkside Financial Bank & Trust now owns 11,849 shares of the company’s stock worth $132,000 after purchasing an additional 1,564 shares during the last quarter. 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.