CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives $12.19 Consensus Price Target from Analysts

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCSGet Free Report) has received an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $12.19.

CCCS has been the subject of a number of research analyst reports. Morgan Stanley cut their price target on CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Piper Sandler lowered their price objective on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $14.00 to $11.00 in a research report on Wednesday, February 26th. Barrington Research reissued an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group lowered their price target on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a “buy” rating for the company in a report on Wednesday, May 7th.

View Our Latest Stock Report on CCCS

Insider Buying and Selling

In related news, insider Timothy A. Welsh bought 100,000 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were purchased at an average price of $9.03 per share, with a total value of $903,000.00. Following the completion of the purchase, the insider now owns 168,472 shares of the company’s stock, valued at $1,521,302.16. This represents a 146.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Eric Wei sold 42,000,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.32, for a total value of $433,440,000.00. Following the transaction, the director now owns 2,258,343 shares of the company’s stock, valued at $23,306,099.76. The trade was a 94.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,087,456 shares of company stock valued at $979,040,401 over the last ninety days. Insiders own 6.03% of the company’s stock.

Institutional Investors Weigh In On CCC Intelligent Solutions

Several hedge funds have recently bought and sold shares of CCCS. BNP Paribas Financial Markets bought a new stake in shares of CCC Intelligent Solutions in the 4th quarter valued at $1,699,000. UMB Bank n.a. bought a new stake in shares of CCC Intelligent Solutions in the fourth quarter worth about $28,000. Ameriprise Financial Inc. increased its holdings in shares of CCC Intelligent Solutions by 42.3% in the fourth quarter. Ameriprise Financial Inc. now owns 986,831 shares of the company’s stock worth $11,576,000 after acquiring an additional 293,355 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in shares of CCC Intelligent Solutions by 29.0% during the fourth quarter. Conestoga Capital Advisors LLC now owns 12,261,035 shares of the company’s stock worth $143,822,000 after purchasing an additional 2,752,950 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of CCC Intelligent Solutions by 3.0% during the 4th quarter. Wells Fargo & Company MN now owns 903,510 shares of the company’s stock valued at $10,598,000 after purchasing an additional 26,694 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

CCC Intelligent Solutions Price Performance

NYSE:CCCS opened at $8.76 on Tuesday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The firm has a market cap of $5.77 billion, a PE ratio of 438.22 and a beta of 0.76. CCC Intelligent Solutions has a 12 month low of $8.14 and a 12 month high of $12.88. The company’s 50-day moving average price is $8.87 and its two-hundred day moving average price is $10.38.

CCC Intelligent Solutions (NYSE:CCCSGet Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The business had revenue of $251.57 million for the quarter, compared to analyst estimates of $249.87 million. During the same period in the prior year, the company earned $0.09 EPS. CCC Intelligent Solutions’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts anticipate that CCC Intelligent Solutions will post 0.17 EPS for the current fiscal year.

About CCC Intelligent Solutions

(Get Free Report

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.

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Analyst Recommendations for CCC Intelligent Solutions (NYSE:CCCS)

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