CCC Intelligent Solutions (NYSE:CCCS) Sets New 12-Month High – Should You Buy?

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) reached a new 52-week high during trading on Monday . The stock traded as high as $12.72 and last traded at $12.72, with a volume of 607977 shares. The stock had previously closed at $12.47.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CCCS shares. Barrington Research restated an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Bank of America began coverage on shares of CCC Intelligent Solutions in a report on Tuesday, August 20th. They issued a “buy” rating and a $15.00 target price for the company. Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $14.00 to $15.00 in a research note on Wednesday, November 13th. Jefferies Financial Group decreased their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. dropped their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.78.

CCC Intelligent Solutions Stock Up 2.2 %

The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 83.13, a PEG ratio of 6.87 and a beta of 0.63. The firm has a fifty day moving average price of $11.10 and a 200 day moving average price of $11.04.

CCC Intelligent Solutions (NYSE:CCCS) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.10 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 firm had revenue of $238.48 million during the quarter, compared to analysts’ expectations of $237.41 million. During the same quarter last year, the business earned $0.03 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

Insider Activity

In related news, CAO Rodney Christo sold 75,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $11.80, for a total value of $885,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Githesh Ramamurthy sold 8,805 shares of CCC Intelligent Solutions stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $11.50, for a total transaction of $101,257.50. Following the sale, the insider now owns 4,798,040 shares of the company’s stock, valued at approximately $55,177,460. This trade represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 268,153 shares of company stock worth $3,195,485 over the last ninety days. 6.67% of the stock is currently owned by insiders.

Institutional Trading of CCC Intelligent Solutions

Several institutional investors have recently made changes to their positions in CCCS. Vanguard Group Inc. lifted its position in CCC Intelligent Solutions by 17.7% during the first quarter. Vanguard Group Inc. now owns 28,034,997 shares of the company’s stock valued at $335,299,000 after buying an additional 4,225,920 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of CCC Intelligent Solutions by 4.9% in the third quarter. Principal Financial Group Inc. now owns 26,484,511 shares of the company’s stock worth $292,654,000 after buying an additional 1,234,281 shares during the period. Dragoneer Investment Group LLC raised its holdings in shares of CCC Intelligent Solutions by 31.5% during the 2nd quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company’s stock valued at $176,704,000 after buying an additional 3,809,200 shares during the period. Wasatch Advisors LP boosted its holdings in CCC Intelligent Solutions by 49.1% in the 3rd quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company’s stock worth $158,358,000 after acquiring an additional 4,716,587 shares during the period. Finally, Janus Henderson Group PLC grew its position in CCC Intelligent Solutions by 7.4% in the first quarter. Janus Henderson Group PLC now owns 12,469,424 shares of the company’s stock valued at $149,133,000 after acquiring an additional 857,110 shares in the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

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.