CCC Intelligent Solutions (NYSE:CCCS) PT Lowered to $13.00 at Jefferies Financial Group

CCC Intelligent Solutions (NYSE:CCCS) had its price objective cut by Jefferies Financial Group from $14.00 to $13.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Separately, Barrington Research reiterated an outperform rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, CCC Intelligent Solutions currently has an average rating of Moderate Buy and an average price target of $13.63.

CCC Intelligent Solutions Price Performance

CCC Intelligent Solutions stock opened at $10.22 on Wednesday. CCC Intelligent Solutions has a 52 week low of $9.97 and a 52 week high of $13.41. The business has a 50-day simple moving average of $11.25 and a 200 day simple moving average of $11.37. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.43. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of -48.67 and a beta of 0.62.

CCC Intelligent Solutions (NYSE:CCCS) last posted its earnings results on Tuesday, July 30th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. CCC Intelligent Solutions had a return on equity of 5.17% and a net margin of 2.36%. The business had revenue of $232.60 million during the quarter, compared to analysts’ expectations of $230.16 million. During the same period in the previous year, the business earned $0.02 earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis. On average, research analysts forecast that CCC Intelligent Solutions will post 0.16 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Brian Herb sold 20,887 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total value of $213,882.88. Following the completion of the sale, the insider now owns 217,872 shares of the company’s stock, valued at approximately $2,231,009.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Brian Herb sold 20,887 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total value of $213,882.88. Following the completion of the sale, the insider now owns 217,872 shares of the company’s stock, valued at approximately $2,231,009.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director International L.P. Advent sold 41,622,992 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $11.43, for a total value of $475,750,798.56. Following the completion of the sale, the director now directly owns 3,812,112 shares of the company’s stock, valued at approximately $43,572,440.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,802,280 shares of company stock valued at $772,070,710. Insiders own 6.67% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise raised its position in CCC Intelligent Solutions by 128.4% during the 1st quarter. Banque Cantonale Vaudoise now owns 2,533 shares of the company’s stock valued at $30,000 after purchasing an additional 1,424 shares during the last quarter. American International Group Inc. raised its position in CCC Intelligent Solutions by 68.6% during the 1st quarter. American International Group Inc. now owns 2,789 shares of the company’s stock valued at $33,000 after purchasing an additional 1,135 shares during the last quarter. CWM LLC raised its position 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 purchasing an additional 2,419 shares during the last quarter. Park Place Capital Corp raised its position in CCC Intelligent Solutions by 65.9% during the 4th quarter. Park Place Capital Corp now owns 4,175 shares of the company’s stock valued at $48,000 after purchasing an additional 1,659 shares during the last quarter. Finally, Twin Tree Management LP bought a new position in CCC Intelligent Solutions during the 1st quarter valued at approximately $53,000. 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.