The Goldman Sachs Group Cuts CCC Intelligent Solutions (NYSE:CCCS) Price Target to $11.50

CCC Intelligent Solutions (NYSE:CCCS) had its price objective lowered by The Goldman Sachs Group from $13.00 to $11.50 in a research note published on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

CCCS has been the subject of several other research reports. Piper Sandler decreased their price target on CCC Intelligent Solutions from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $14.00 to $11.00 in a report on Wednesday, February 26th. Morgan Stanley reduced their price objective on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Barclays dropped their target price on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Finally, Barrington Research restated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, CCC Intelligent Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.19.

CCC Intelligent Solutions Stock Up 0.7 %

Shares of CCC Intelligent Solutions stock opened at $9.00 on Wednesday. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 450.23 and a beta of 0.76. The stock has a 50-day simple moving average of $8.97 and a 200-day simple moving average of $10.58. CCC Intelligent Solutions has a 52-week low of $8.14 and a 52-week 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.

CCC Intelligent Solutions (NYSE:CCCS) last posted its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. The firm had revenue of $251.57 million during the quarter, compared to analysts’ expectations of $249.87 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 earnings per share. On average, equities research analysts expect that CCC Intelligent Solutions will post 0.17 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Eileen Schloss sold 27,478 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The shares were 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 approximately $228,493.40. This trade represents a 50.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rodney Christo sold 20,077 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.20, for a total transaction of $204,785.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,087,456 shares of company stock valued at $434,240,401. Insiders own 6.03% of the company’s stock.

Institutional Investors Weigh In On CCC Intelligent Solutions

A number of institutional investors have recently added to or reduced their stakes in CCCS. Price T Rowe Associates Inc. MD lifted its position in shares of CCC Intelligent Solutions by 4,172.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,837,354 shares of the company’s stock worth $115,394,000 after buying an additional 9,607,085 shares during the period. Vanguard Group Inc. lifted its holdings in shares of CCC Intelligent Solutions by 9.9% during the first quarter. Vanguard Group Inc. now owns 56,491,007 shares of the company’s stock valued at $510,114,000 after acquiring an additional 5,103,835 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of CCC Intelligent Solutions in the 4th quarter valued at $58,080,000. Brown Advisory Inc. grew its holdings in shares of CCC Intelligent Solutions by 30.7% in the 1st quarter. Brown Advisory Inc. now owns 18,346,792 shares of the company’s stock worth $165,672,000 after purchasing an additional 4,313,296 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of CCC Intelligent Solutions during the 4th quarter worth about $50,032,000. 95.79% of the stock is owned by institutional investors and hedge funds.

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.