CCC Intelligent Solutions (NYSE:CCCS) Upgraded to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of CCC Intelligent Solutions (NYSE:CCCS) from an equal weight rating to an overweight rating in a research note released on Wednesday morning, MarketBeat Ratings reports. They currently have $15.00 target price on the stock, up from their previous target price of $14.00.

Several other analysts have also issued reports on the stock. Bank of America assumed coverage on shares of CCC Intelligent Solutions in a research report on Tuesday, August 20th. They set a “buy” rating and a $15.00 price target for the company. JPMorgan Chase & Co. dropped their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Barclays decreased their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Jefferies Financial Group dropped their price objective on 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, Barrington Research restated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions 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 MarketBeat.com, CCC Intelligent Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.78.

CCC Intelligent Solutions Stock Performance

Shares of NYSE CCCS opened at $11.77 on Wednesday. The stock’s 50-day moving average is $10.96 and its 200 day moving average is $11.00. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 588.50, a P/E/G ratio of 6.67 and a beta of 0.63. CCC Intelligent Solutions has a 1-year low of $9.79 and a 1-year high of $12.68. 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 quarterly earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $237.41 million. During the same period last year, the firm posted $0.03 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that CCC Intelligent Solutions will post 0.16 EPS for the current fiscal year.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider Michael John Silva sold 29,022 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $10.75, for a total transaction of $311,986.50. Following the transaction, the insider now owns 30,172 shares in the company, valued at approximately $324,349. This represents a 49.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mary Jo Prigge sold 2,489 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $12.00, for a total value of $29,868.00. Following the completion of the transaction, the insider now owns 97,268 shares of the company’s stock, valued at approximately $1,167,216. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,664 shares of company stock worth $550,614 over the last quarter. 6.67% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CCC Intelligent Solutions

Hedge funds have recently bought and sold shares of the business. American International Group Inc. increased its stake in shares of CCC Intelligent Solutions by 68.6% during the first 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 in the last quarter. Advisors Asset Management Inc. increased its position in 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 buying an additional 1,729 shares in the last quarter. CWM LLC increased 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 buying an additional 2,419 shares in the last quarter. Twin Tree Management LP purchased a new position in CCC Intelligent Solutions during the first quarter valued at $53,000. Finally, Huntington National Bank boosted its holdings in CCC Intelligent Solutions by 37.6% in the third quarter. Huntington National Bank now owns 5,852 shares of the company’s stock worth $65,000 after acquiring an additional 1,599 shares in the last quarter. 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.