CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives $11.38 Average Target Price from Analysts

Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) have been given an average recommendation of “Hold” by the seven analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $11.3750.

Several research analysts recently issued reports on the stock. Piper Sandler cut their target price on shares of CCC Intelligent Solutions from $10.00 to $9.50 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Jefferies Financial Group set a $11.00 target price on CCC Intelligent Solutions in a research note on Thursday, October 30th. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Monday, October 27th. Barclays cut their price target on CCC Intelligent Solutions from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Finally, Stifel Nicolaus decreased their price objective on CCC Intelligent Solutions from $13.00 to $11.00 and set a “buy” rating for the company in a report on Friday, October 31st.

CCC Intelligent Solutions Stock Up 6.4%

Shares of NYSE:CCCS opened at $7.68 on Friday. CCC Intelligent Solutions has a 1 year low of $8.14 and a 1 year high of $12.88. 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 business’s 50-day moving average is $8.08 and its 200-day moving average is $9.02. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 384.19 and a beta of 0.72.

CCC Intelligent Solutions (NYSE:CCCS) last issued its earnings results on Thursday, October 30th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $267.12 million during the quarter, compared to the consensus estimate of $265.01 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%.The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. Equities research analysts predict that CCC Intelligent Solutions will post 0.17 earnings per share for the current year.

Insider Buying and Selling

In other CCC Intelligent Solutions news, insider John Page Goodson sold 150,000 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $9.59, for a total transaction of $1,438,500.00. Following the transaction, the insider owned 157,478 shares in the company, valued at approximately $1,510,214.02. This represents a 48.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.03% of the company’s stock.

Institutional Investors Weigh In On CCC Intelligent Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in CCCS. Advisors Asset Management Inc. lifted its position in CCC Intelligent Solutions by 18.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 7,806 shares of the company’s stock valued at $73,000 after acquiring an additional 1,207 shares in the last quarter. Park Place Capital Corp lifted its holdings in shares of CCC Intelligent Solutions by 47.6% in the second quarter. Park Place Capital Corp now owns 3,806 shares of the company’s stock valued at $36,000 after purchasing an additional 1,228 shares in the last quarter. Curated Wealth Partners LLC boosted its position in shares of CCC Intelligent Solutions by 11.0% during the third quarter. Curated Wealth Partners LLC now owns 13,273 shares of the company’s stock valued at $121,000 after buying an additional 1,315 shares during the last quarter. Global Retirement Partners LLC grew its holdings in CCC Intelligent Solutions by 5.6% during the third quarter. Global Retirement Partners LLC now owns 28,544 shares of the company’s stock worth $260,000 after buying an additional 1,517 shares in the last quarter. Finally, Forum Financial Management LP raised its position in CCC Intelligent Solutions by 7.8% in the 3rd quarter. Forum Financial Management LP now owns 21,653 shares of the company’s stock valued at $197,000 after buying an additional 1,567 shares during the last quarter. 95.79% of the stock is owned by 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.