Barrington Research Reiterates Outperform Rating for CCC Intelligent Solutions (NYSE:CCCS)

Barrington Research reaffirmed their outperform rating on shares of CCC Intelligent Solutions (NYSE:CCCS) in a research report report published on Wednesday, Benzinga reports. They currently have a $14.00 target price on the stock.

Several other analysts have also recently issued reports on the stock. Citigroup reissued a buy rating and set a $13.00 price objective on shares of CCC Intelligent Solutions in a research note on Thursday, February 8th. Evercore ISI boosted their price objective on shares of CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an outperform rating in a research note on Wednesday, March 13th. Barclays boosted their price objective on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an equal weight rating in a research note on Thursday, February 29th. Finally, Piper Sandler boosted their price objective on shares of CCC Intelligent Solutions from $11.00 to $13.00 and gave the company a neutral rating in a research note on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $13.63.

CCC Intelligent Solutions Stock Up 1.2 %

CCCS stock opened at $10.81 on Wednesday. The stock has a market capitalization of $6.64 billion, a P/E ratio of 90.08 and a beta of 0.63. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.29 and a current ratio of 2.53. CCC Intelligent Solutions has a one year low of $8.74 and a one year high of $13.41. The company has a 50 day moving average price of $11.71 and a two-hundred day moving average price of $11.44.

CCC Intelligent Solutions (NYSE:CCCS) last released its earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The firm had revenue of $228.60 million during the quarter, compared to analysts’ expectations of $222.80 million. CCC Intelligent Solutions had a positive return on equity of 4.52% and a negative net margin of 10.85%. As a group, sell-side analysts expect that CCC Intelligent Solutions will post 0.16 EPS for the current year.

Insider Buying and Selling

In related news, insider Brian Herb sold 23,521 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $11.81, for a total transaction of $277,783.01. Following the completion of the sale, the insider now directly owns 288,076 shares of the company’s stock, valued at approximately $3,402,177.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other CCC Intelligent Solutions news, SVP Marc Fredman sold 324,952 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $12.15, for a total value of $3,948,166.80. Following the transaction, the senior vice president now owns 212,542 shares in the company, valued at approximately $2,582,385.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Herb sold 23,521 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $11.81, for a total transaction of $277,783.01. Following the completion of the transaction, the insider now owns 288,076 shares in the company, valued at approximately $3,402,177.56. The disclosure for this sale can be found here. In the last three months, insiders sold 59,706,755 shares of company stock valued at $681,785,331. Company insiders own 6.67% of the company’s stock.

Hedge Funds Weigh In On CCC Intelligent Solutions

Institutional investors have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise lifted its holdings in CCC Intelligent Solutions by 128.4% during the 1st quarter. Banque Cantonale Vaudoise now owns 2,533 shares of the company’s stock worth $30,000 after buying an additional 1,424 shares during the last quarter. Park Place Capital Corp raised its position in shares of 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 acquiring an additional 1,659 shares in the last quarter. Covestor Ltd lifted its stake in CCC Intelligent Solutions by 781.7% during the third quarter. Covestor Ltd now owns 6,895 shares of the company’s stock worth $92,000 after purchasing an additional 6,113 shares during the last quarter. Parkside Financial Bank & Trust acquired a new position in CCC Intelligent Solutions in the fourth quarter worth $99,000. Finally, Coldstream Capital Management Inc. bought a new stake in CCC Intelligent Solutions during the fourth quarter valued at $119,000. Institutional investors and hedge funds 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.