CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives $13.63 Average Target Price from Brokerages

Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) have received a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $13.63.

Several equities analysts have recently commented on CCCS shares. Jefferies Financial Group dropped their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Barrington Research reiterated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Wednesday, July 31st.

CCC Intelligent Solutions Stock Up 0.7 %

CCC Intelligent Solutions stock opened at $10.04 on Wednesday. The firm has a market capitalization of $6.24 billion, a PE ratio of -47.81 and a beta of 0.62. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.79 and a quick ratio of 2.53. The company’s 50-day moving average is $11.18 and its 200-day moving average is $11.36. CCC Intelligent Solutions has a fifty-two week low of $9.79 and a fifty-two week high of $13.41.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $232.60 million during the quarter, compared to the consensus estimate of $230.16 million. CCC Intelligent Solutions had a net margin of 2.36% and a return on equity of 5.16%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.02 EPS. Sell-side analysts anticipate that CCC Intelligent Solutions will post 0.15 earnings per share for the current year.

Insider Activity

In other CCC Intelligent Solutions news, insider Githesh Ramamurthy sold 1,000,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $11.78, for a total transaction of $11,780,000.00. Following the transaction, the insider now directly owns 6,463,840 shares of the company’s stock, valued at $76,144,035.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Brian Herb sold 20,887 shares of CCC Intelligent Solutions stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $10.24, for a total value of $213,882.88. Following the transaction, the insider now directly owns 217,872 shares of the company’s stock, valued at $2,231,009.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Githesh Ramamurthy sold 1,000,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $11.78, for a total transaction of $11,780,000.00. Following the transaction, the insider now directly owns 6,463,840 shares in the company, valued at $76,144,035.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,802,280 shares of company stock worth $772,070,710. 6.67% of the stock is owned by company insiders.

Institutional Trading of CCC Intelligent Solutions

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of CCC Intelligent Solutions by 17.7% during the 1st quarter. Vanguard Group Inc. now owns 28,034,997 shares of the company’s stock valued at $335,299,000 after purchasing an additional 4,225,920 shares during the last quarter. Principal Financial Group Inc. increased its holdings in CCC Intelligent Solutions by 37.8% in the 2nd quarter. Principal Financial Group Inc. now owns 25,250,230 shares of the company’s stock worth $280,530,000 after acquiring an additional 6,921,161 shares in the last quarter. Janus Henderson Group PLC boosted its stake in CCC Intelligent Solutions by 7.4% in the 1st quarter. Janus Henderson Group PLC now owns 12,469,424 shares of the company’s stock worth $149,133,000 after purchasing an additional 857,110 shares during the period. Brown Advisory Inc. boosted its stake in CCC Intelligent Solutions by 128.7% in the 4th quarter. Brown Advisory Inc. now owns 10,436,353 shares of the company’s stock worth $118,870,000 after purchasing an additional 5,873,823 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of CCC Intelligent Solutions by 59.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,312,688 shares of the company’s stock valued at $123,340,000 after acquiring an additional 3,861,020 shares during the last quarter. Institutional investors own 95.79% of the company’s stock.

CCC Intelligent Solutions Company Profile

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.