CCC Intelligent Solutions (NYSE:CCCS) Downgraded to “Underweight” Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions (NYSE:CCCS) from a neutral rating to an underweight rating in a report issued on Monday, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has $10.00 price objective on the stock.

CCCS has been the subject of several other reports. Piper Sandler lowered their price objective on CCC Intelligent Solutions from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Morgan Stanley decreased 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. The Goldman Sachs Group dropped their price objective on CCC Intelligent Solutions from $13.00 to $11.50 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Barclays reduced their target price on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Finally, Barrington Research reissued an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.06.

CCC Intelligent Solutions Stock Performance

CCCS opened at $9.22 on Monday. CCC Intelligent Solutions has a 1-year low of $8.14 and a 1-year high of $12.88. The company has a market cap of $6.08 billion, a price-to-earnings ratio of 461.23 and a beta of 0.72. The company’s fifty day moving average price is $8.94 and its two-hundred day moving average price is $9.96. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions (NYSE:CCCS) last posted its earnings results on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The company had revenue of $251.57 million during the quarter, compared to the consensus estimate of $249.87 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts expect that CCC Intelligent Solutions will post 0.17 EPS for the current fiscal year.

Insider Transactions at CCC Intelligent Solutions

In other news, Director Lauren Young sold 30,000,000 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $9.08, for a total transaction of $272,400,000.00. Following the transaction, the director now owns 1,562,344 shares of the company’s stock, valued at $14,186,083.52. This represents a 95.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Crescenzo Neil E. De acquired 100,000 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average cost of $8.54 per share, with a total value of $854,000.00. Following the acquisition, the director now owns 213,429 shares in the company, valued at $1,822,683.66. The trade was a 88.16% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 60,027,478 shares of company stock worth $545,036,311 in the last ninety days. Company insiders own 6.03% of the company’s stock.

Hedge Funds Weigh In On CCC Intelligent Solutions

Several large investors have recently modified their holdings of CCCS. Voya Investment Management LLC lifted its holdings in CCC Intelligent Solutions by 9.6% during the 1st quarter. Voya Investment Management LLC now owns 60,207 shares of the company’s stock worth $544,000 after purchasing an additional 5,291 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of CCC Intelligent Solutions by 1.5% in the first quarter. Rhumbline Advisers now owns 414,450 shares of the company’s stock worth $3,742,000 after buying an additional 5,948 shares in the last quarter. Strs Ohio purchased a new stake in shares of CCC Intelligent Solutions in the first quarter worth about $1,519,000. Jane Street Group LLC boosted its position in shares of CCC Intelligent Solutions by 179.6% in the first quarter. Jane Street Group LLC now owns 679,581 shares of the company’s stock valued at $6,137,000 after acquiring an additional 436,561 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in CCC Intelligent Solutions by 6.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,232,145 shares of the company’s stock valued at $11,126,000 after acquiring an additional 74,208 shares in the last quarter. Hedge funds and other 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.