CCC Intelligent Solutions (NYSE:CCCS) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of CCC Intelligent Solutions (NYSE:CCCS) from an equal weight rating to an overweight rating in a report published on Wednesday morning, MarketBeat reports. Morgan Stanley currently has $15.00 target price on the stock, up from their prior target price of $14.00.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Jefferies Financial Group dropped their target price on shares of 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. Barclays dropped their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Bank of America assumed coverage on shares of CCC Intelligent Solutions in a research report on Tuesday, August 20th. They set a “buy” rating and a $15.00 target price on the stock. Finally, Barrington Research reissued an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, CCC Intelligent Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.78.

CCC Intelligent Solutions Stock Performance

Shares of CCCS opened at $11.77 on Wednesday. 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 has a 50-day moving average of $10.96 and a 200-day moving average of $11.00. The company has a market cap of $7.36 billion, a PE ratio of 588.50, a P/E/G ratio of 6.67 and a beta of 0.63. CCC Intelligent Solutions has a one year low of $9.79 and a one year high of $12.68.

CCC Intelligent Solutions (NYSE:CCCS) last issued its earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $238.48 million during the quarter, compared to the consensus estimate of $237.41 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the business posted $0.03 EPS. On average, equities research analysts predict that CCC Intelligent Solutions will post 0.16 EPS for the current fiscal year.

Insider Transactions at CCC Intelligent Solutions

In other news, insider Mary Jo Prigge sold 2,489 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $12.00, for a total transaction of $29,868.00. Following the completion of the transaction, the insider now directly owns 97,268 shares in the company, valued at $1,167,216. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Githesh Ramamurthy sold 8,805 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $11.50, for a total transaction of $101,257.50. Following the transaction, the insider now owns 4,798,040 shares of the company’s stock, valued at $55,177,460. This trade represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,664 shares of company stock worth $550,614 in the last quarter. Insiders own 6.67% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CCCS. Geode Capital Management LLC lifted its holdings in shares of CCC Intelligent Solutions by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 7,204,260 shares of the company’s stock worth $79,627,000 after acquiring an additional 1,039,690 shares during the last quarter. M&T Bank Corp bought a new stake in shares of CCC Intelligent Solutions during the 3rd quarter worth $124,000. Barclays PLC lifted its holdings in shares of CCC Intelligent Solutions by 155.7% during the 3rd quarter. Barclays PLC now owns 109,020 shares of the company’s stock worth $1,205,000 after acquiring an additional 66,386 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of CCC Intelligent Solutions by 2.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 164,208 shares of the company’s stock worth $1,814,000 after acquiring an additional 3,800 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of CCC Intelligent Solutions during the 3rd quarter worth $685,000. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

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.