CCC Intelligent Solutions (NYSE:CCCS) Receives “Neutral” Rating from Piper Sandler

Piper Sandler restated their neutral rating on shares of CCC Intelligent Solutions (NYSE:CCCS) in a research note released on Wednesday morning,Benzinga reports. The firm currently has a $11.00 price target on the stock, down from their prior price target of $13.00.

A number of other brokerages have also commented on CCCS. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and cut their price target for the company from $14.00 to $11.00 in a research note on Wednesday. Barclays cut their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Barrington Research restated an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Monday. Finally, Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, CCC Intelligent Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $13.38.

CCC Intelligent Solutions Trading Up 0.1 %

NYSE CCCS opened at $10.31 on Wednesday. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 515.76 and a beta of 0.71. CCC Intelligent Solutions has a twelve month low of $9.79 and a twelve month high of $12.88. 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 business’s fifty day moving average is $11.20 and its 200 day moving average is $11.22.

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

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De bought 100,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of $12.16 per share, for a total transaction of $1,216,000.00. Following the transaction, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CCC Intelligent Solutions

A number of hedge funds have recently added to or reduced their stakes in CCCS. Cache Advisors LLC acquired a new stake in shares of CCC Intelligent Solutions during the 4th quarter worth approximately $1,362,000. Squarepoint Ops LLC lifted its position in shares of CCC Intelligent Solutions by 736.2% during the 4th quarter. Squarepoint Ops LLC now owns 141,091 shares of the company’s stock valued at $1,655,000 after acquiring an additional 124,218 shares during the period. Twinbeech Capital LP bought a new position in CCC Intelligent Solutions during the fourth quarter worth $489,000. TPG GP A LLC grew its holdings in CCC Intelligent Solutions by 17.3% in the fourth quarter. TPG GP A LLC now owns 4,087,220 shares of the company’s stock worth $47,943,000 after purchasing an additional 602,959 shares during the period. Finally, State of Wyoming increased its stake in CCC Intelligent Solutions by 26.7% in the fourth quarter. State of Wyoming now owns 17,680 shares of the company’s stock valued at $207,000 after purchasing an additional 3,731 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors.

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.