CCC Intelligent Solutions (NYSE:CCCS) Earns Outperform Rating from Barrington Research

CCC Intelligent Solutions (NYSE:CCCS)‘s stock had its “outperform” rating reiterated by investment analysts at Barrington Research in a report issued on Monday,Benzinga reports. They currently have a $14.00 price target on the stock. Barrington Research’s target price would indicate a potential upside of 34.23% from the stock’s current price.

Several other brokerages also recently weighed in on CCCS. Piper Sandler reiterated a “neutral” rating and issued a $13.00 price objective on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th. Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price target on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Barclays lowered their price target 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

CCC Intelligent Solutions Trading Down 1.3 %

NYSE CCCS opened at $10.43 on Monday. The firm has a market cap of $6.84 billion, a PE ratio of 521.76 and a beta of 0.71. CCC Intelligent Solutions has a 1-year low of $9.79 and a 1-year high of $12.88. The stock has a 50-day moving average of $11.31 and a 200-day moving average of $11.23. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions declared that its Board of Directors has initiated a share repurchase plan on Friday, December 20th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to repurchase up to 4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De acquired 100,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average cost of $12.16 per share, for a total transaction of $1,216,000.00. Following the acquisition, the director now owns 100,000 shares of the company’s stock, valued at $1,216,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CCC Intelligent Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baker Tilly Wealth Management LLC purchased a new position in shares of CCC Intelligent Solutions in the 3rd quarter worth $149,000. Norris Perne & French LLP MI increased its position in shares of CCC Intelligent Solutions by 10.3% during the 3rd quarter. Norris Perne & French LLP MI now owns 341,367 shares of the company’s stock valued at $3,772,000 after purchasing an additional 31,950 shares during the last quarter. Stephens Inc. AR lifted its stake in shares of CCC Intelligent Solutions by 47.1% in the 3rd quarter. Stephens Inc. AR now owns 25,296 shares of the company’s stock worth $280,000 after purchasing an additional 8,103 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of CCC Intelligent Solutions by 1.6% in the third quarter. New York State Common Retirement Fund now owns 2,371,135 shares of the company’s stock worth $26,201,000 after buying an additional 36,867 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its position in CCC Intelligent Solutions by 18.7% during the third quarter. Conestoga Capital Advisors LLC now owns 9,508,085 shares of the company’s stock valued at $105,064,000 after buying an additional 1,498,200 shares during the period. 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.