CCC Intelligent Solutions (NYSE:CCCS) Receives “Outperform” Rating from Barrington Research

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

CCCS has been the topic of several other research reports. Citigroup restated a buy rating and set a $13.00 price target on shares of CCC Intelligent Solutions in a report on Thursday, February 8th. Barclays raised their price objective on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an equal weight rating in a report on Thursday, February 29th. Evercore ISI boosted their price objective on CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an outperform rating in a research note on Wednesday, March 13th. Finally, Piper Sandler upped their target price on shares of CCC Intelligent Solutions from $11.00 to $13.00 and gave the company a neutral rating in a report on Friday, March 1st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, CCC Intelligent Solutions currently has an average rating of Moderate Buy and a consensus price target of $13.63.

CCC Intelligent Solutions Price Performance

CCCS stock opened at $10.81 on Wednesday. The business’s fifty day moving average price is $11.72 and its 200 day moving average price is $11.45. CCC Intelligent Solutions has a 12-month low of $8.74 and a 12-month high of $13.41. The company has a current ratio of 2.53, a quick ratio of 2.29 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $6.64 billion, a PE ratio of -51.48 and a beta of 0.63.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The business had revenue of $228.60 million for 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%. On average, sell-side analysts anticipate that CCC Intelligent Solutions will post 0.18 EPS for the current year.

Insider Activity

In other news, Director Lauren Young sold 41,165,139 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $11.33, for a total value of $466,401,024.87. Following the completion of the sale, the director now directly owns 5,164,022 shares of the company’s stock, valued at approximately $58,508,369.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Lauren Young sold 41,165,139 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $11.33, for a total transaction of $466,401,024.87. Following the sale, the director now owns 5,164,022 shares of the company’s stock, valued at $58,508,369.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Rodney Christo sold 4,606 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $11.88, for a total transaction of $54,719.28. Following the completion of the transaction, the chief accounting officer now directly owns 14,154 shares of the company’s stock, valued at $168,149.52. The disclosure for this sale can be found here. Insiders have sold a total of 59,706,755 shares of company stock valued at $681,785,331 over the last quarter. Corporate insiders own 6.67% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CCCS. Banque Cantonale Vaudoise increased 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 valued at $30,000 after acquiring an additional 1,424 shares in the last quarter. Park Place Capital Corp lifted its stake in CCC Intelligent Solutions by 65.9% in the 4th quarter. Park Place Capital Corp now owns 4,175 shares of the company’s stock valued at $48,000 after buying an additional 1,659 shares in the last quarter. Covestor Ltd grew its holdings in CCC Intelligent Solutions by 781.7% during the 3rd quarter. Covestor Ltd now owns 6,895 shares of the company’s stock valued at $92,000 after buying an additional 6,113 shares during the last quarter. Parkside Financial Bank & Trust purchased a new position in CCC Intelligent Solutions during the fourth quarter worth $99,000. Finally, Coldstream Capital Management Inc. acquired a new position in shares of CCC Intelligent Solutions in the fourth quarter worth $119,000. Hedge funds and other 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.