CCC Intelligent Solutions (NYSE:CCCS) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of CCC Intelligent Solutions (NYSE:CCCS) from an equal weight rating to an overweight rating in a report issued on Wednesday, MarketBeat reports. They currently have $15.00 price objective on the stock, up from their prior price objective of $14.00.

Several other brokerages also recently commented on CCCS. JPMorgan Chase & Co. lowered their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Jefferies Financial Group lowered their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Barclays lowered their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Finally, Bank of America assumed coverage on shares of CCC Intelligent Solutions in a research note on Tuesday, August 20th. They set a “buy” rating and a $15.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, CCC Intelligent Solutions presently has an average rating of “Moderate Buy” and an average target price of $13.78.

CCC Intelligent Solutions Stock Performance

CCC Intelligent Solutions stock opened at $11.77 on Wednesday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $7.36 billion, a PE ratio of 588.50, a P/E/G ratio of 6.67 and a beta of 0.63. The firm has a fifty day simple moving average of $10.96 and a two-hundred day simple moving average of $11.00. CCC Intelligent Solutions has a twelve month low of $9.79 and a twelve month high of $12.68.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $238.48 million during the quarter, compared to the consensus estimate of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.03 earnings per share. Research analysts expect that CCC Intelligent Solutions will post 0.16 EPS for the current year.

Insider Activity at CCC Intelligent Solutions

In related news, insider Michael John Silva sold 29,022 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $10.75, for a total transaction of $311,986.50. Following the transaction, the insider now owns 30,172 shares in the company, valued at $324,349. The trade was a 49.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Githesh Ramamurthy sold 9,348 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $11.50, for a total transaction of $107,502.00. Following the transaction, the insider now owns 4,798,040 shares in the company, valued at $55,177,460. This represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,664 shares of company stock worth $550,614 over the last 90 days. 6.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On CCC Intelligent Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of CCCS. Ghisallo Capital Management LLC purchased a new stake in CCC Intelligent Solutions in the second quarter worth about $132,917,000. Akre Capital Management LLC purchased a new stake in CCC Intelligent Solutions in the first quarter worth about $83,720,000. Principal Financial Group Inc. grew its holdings in CCC Intelligent Solutions by 37.8% in the second quarter. Principal Financial Group Inc. now owns 25,250,230 shares of the company’s stock worth $280,530,000 after purchasing an additional 6,921,161 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in CCC Intelligent Solutions in the second quarter worth about $70,844,000. Finally, Van Berkom & Associates Inc. purchased a new stake in CCC Intelligent Solutions in the second quarter worth about $61,605,000. Hedge funds and other institutional investors 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.