CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Given Average Recommendation of “Moderate Buy” by Analysts

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) has been given a consensus recommendation of “Moderate Buy” by the eight analysts that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $14.00.

A number of research analysts have commented on CCCS shares. Barrington Research restated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $14.00 to $15.00 in a research note on Wednesday, November 13th. Piper Sandler restated a “neutral” rating and set a $13.00 price objective on shares of CCC Intelligent Solutions in a research note on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price objective on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Barclays reduced their price objective 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.

CCC Intelligent Solutions Price Performance

Shares of CCC Intelligent Solutions stock opened at $10.43 on Friday. The business’s fifty day moving average price is $11.31 and its 200 day moving average price is $11.22. The stock has a market capitalization of $6.84 billion, a P/E ratio of 521.76 and a beta of 0.71. CCC Intelligent Solutions has a twelve month low of $9.79 and a twelve month high of $12.88. 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 declared that its board has approved a stock buyback program on Friday, December 20th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, CAO Rodney Christo sold 9,916 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $12.67, for a total value of $125,635.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Crescenzo Neil E. De acquired 100,000 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average cost of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the acquisition, the director now owns 100,000 shares of the company’s stock, valued at $1,216,000. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 6.67% of the company’s stock.

Institutional Trading of CCC Intelligent Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of CCCS. Eagle Bay Advisors LLC bought a new stake in CCC Intelligent Solutions in the fourth quarter valued at about $25,000. UMB Bank n.a. bought a new stake in CCC Intelligent Solutions in the fourth quarter valued at about $28,000. TD Private Client Wealth LLC bought a new stake in CCC Intelligent Solutions in the fourth quarter valued at about $31,000. Advisors Asset Management Inc. increased its holdings in CCC Intelligent Solutions by 153.0% in the third 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 during the last quarter. Finally, Quarry LP bought a new position in shares of CCC Intelligent Solutions during the fourth quarter valued at approximately $36,000. 95.79% of the stock is owned by institutional investors.

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.