CCC Intelligent Solutions (NYSE:CCCS) Price Target Lowered to $13.00 at Morgan Stanley

CCC Intelligent Solutions (NYSE:CCCS) had its price target decreased by Morgan Stanley from $15.00 to $13.00 in a research report report published on Wednesday morning, MarketBeat Ratings reports. Morgan Stanley currently has an overweight rating on the stock.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $14.00 to $11.00 in a research report on Wednesday, February 26th. Piper Sandler restated a “neutral” rating and set a $11.00 target price (down from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. Barrington Research reiterated an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Finally, Barclays reduced their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.57.

CCC Intelligent Solutions Trading Down 0.8 %

Shares of NYSE CCCS opened at $8.77 on Wednesday. CCC Intelligent Solutions has a fifty-two week low of $8.14 and a fifty-two week high of $12.88. The firm has a market capitalization of $5.78 billion, a P/E ratio of 438.72 and a beta of 0.77. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The company’s 50 day simple moving average is $9.51 and its 200 day simple moving average is $10.81.

CCC Intelligent Solutions announced that its board has initiated a share repurchase program on Friday, December 20th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to repurchase up to 4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Eileen Schloss sold 27,478 shares of the company’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $8.60, for a total transaction of $236,310.80. Following the completion of the transaction, the director now directly owns 26,569 shares of the company’s stock, valued at $228,493.40. This represents a 50.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Rodney Christo sold 20,077 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.20, for a total value of $204,785.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,087,456 shares of company stock worth $434,240,401. Company insiders own 6.67% of the company’s stock.

Hedge Funds Weigh In On CCC Intelligent Solutions

Large investors have recently bought and sold shares of the company. Eagle Bay Advisors LLC acquired a new position in CCC Intelligent Solutions during the fourth quarter worth $25,000. UMB Bank n.a. acquired a new stake in CCC Intelligent Solutions in the 4th quarter valued at $28,000. TD Private Client Wealth LLC bought a new stake in CCC Intelligent Solutions during the 4th quarter worth about $31,000. Quarry LP acquired a new position in shares of CCC Intelligent Solutions during the 4th quarter worth about $36,000. Finally, GAMMA Investing LLC grew its holdings in shares of CCC Intelligent Solutions by 286.9% in the 4th quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock valued at $39,000 after acquiring an additional 2,479 shares in the last quarter. Institutional investors and hedge funds 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.