CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) has received a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $14.00.

A number of research firms have recently commented on CCCS. Barrington Research reiterated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Piper Sandler reiterated a “neutral” rating and issued a $13.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. JPMorgan Chase & Co. upped their target price on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Morgan Stanley raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $14.00 to $15.00 in a research report on Wednesday, November 13th. Finally, Barclays decreased their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th.

Insiders Place Their Bets

In other news, insider Mary Jo Prigge sold 19,276 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $12.67, for a total value of $244,226.92. Following the completion of the sale, the insider now directly owns 97,268 shares of the company’s stock, valued at $1,232,385.56. This trade represents a 16.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Crescenzo Neil E. De purchased 100,000 shares of CCC Intelligent Solutions stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the acquisition, the director now directly owns 100,000 shares in the company, valued at approximately $1,216,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.67% of the stock is owned by insiders.

Institutional Trading of CCC Intelligent Solutions

Several hedge funds have recently modified their holdings of the business. Cache Advisors LLC acquired a new stake in shares of CCC Intelligent Solutions in the 4th quarter valued at approximately $1,362,000. Squarepoint Ops LLC lifted its holdings in shares of CCC Intelligent Solutions by 736.2% in the 4th quarter. Squarepoint Ops LLC now owns 141,091 shares of the company’s stock valued at $1,655,000 after buying an additional 124,218 shares during the period. Twinbeech Capital LP acquired a new stake in shares of CCC Intelligent Solutions in the 4th quarter valued at approximately $489,000. TPG GP A LLC lifted its holdings in shares of CCC Intelligent Solutions by 17.3% in the 4th quarter. TPG GP A LLC now owns 4,087,220 shares of the company’s stock valued at $47,943,000 after buying an additional 602,959 shares during the period. Finally, State of Wyoming lifted its holdings in shares of CCC Intelligent Solutions by 26.7% in the 4th quarter. State of Wyoming now owns 17,680 shares of the company’s stock valued at $207,000 after buying an additional 3,731 shares during the period. 95.79% of the stock is owned by institutional investors and hedge funds.

CCC Intelligent Solutions Trading Down 0.1 %

CCCS opened at $10.57 on Friday. CCC Intelligent Solutions has a one year low of $9.79 and a one year high of $12.88. The company has a market cap of $6.94 billion, a P/E ratio of 528.76 and a beta of 0.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The business’s 50-day simple moving average is $11.34 and its 200-day simple moving average is $11.21.

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

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.