CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) has been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $13.89.

CCCS has been the subject of a number of recent research reports. Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Barclays decreased their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Barrington Research restated an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Finally, Piper Sandler restated a “neutral” rating and set a $13.00 price target on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th.

CCC Intelligent Solutions Trading Down 0.4 %

Shares of CCC Intelligent Solutions stock opened at $11.36 on Wednesday. The company’s 50-day moving average price is $11.91 and its 200-day moving average price is $11.22. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 568.28 and a beta of 0.72. CCC Intelligent Solutions has a 12-month low of $9.79 and a 12-month high of $12.88. 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 announced its earnings results on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business had revenue of $238.48 million during the quarter, compared to analyst estimates of $237.41 million. During the same period in the previous year, the business posted $0.03 earnings per share. CCC Intelligent Solutions’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts expect that CCC Intelligent Solutions will post 0.17 earnings per share for the current fiscal year.

CCC Intelligent Solutions announced that its Board of Directors has initiated a share buyback program on Friday, December 20th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to repurchase up to 4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider Mary Jo Prigge sold 19,276 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $12.67, for a total value of $244,226.92. Following the completion of the sale, the insider now directly owns 97,268 shares in the company, valued at $1,232,385.56. This trade represents a 16.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Crescenzo Neil E. De purchased 100,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was acquired at an average price of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the purchase, the director now owns 100,000 shares of the company’s stock, valued at $1,216,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 443,153 shares of company stock worth $5,390,863. Insiders own 6.67% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eagle Bay Advisors LLC purchased a new position in CCC Intelligent Solutions during the fourth quarter valued at approximately $25,000. UMB Bank n.a. acquired a new stake in shares of CCC Intelligent Solutions during the 4th quarter worth approximately $28,000. Advisors Asset Management Inc. increased its holdings in shares of CCC Intelligent Solutions by 153.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock valued at $32,000 after purchasing an additional 1,729 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of CCC Intelligent Solutions by 286.9% in the 4th quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock valued at $39,000 after purchasing an additional 2,479 shares during the period. Finally, Financial Management Professionals Inc. purchased a new stake in CCC Intelligent Solutions during the fourth quarter worth $54,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

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.