CCC Intelligent Solutions (NYSE:CCCS) PT Lowered to $13.00 at Jefferies Financial Group

CCC Intelligent Solutions (NYSE:CCCS) had its price target trimmed by Jefferies Financial Group from $14.00 to $13.00 in a report published on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Barrington Research reiterated an outperform rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $13.63.

CCC Intelligent Solutions Stock Performance

CCC Intelligent Solutions stock opened at $10.22 on Wednesday. CCC Intelligent Solutions has a 12 month low of $9.97 and a 12 month high of $13.41. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of -48.67 and a beta of 0.62. The business’s fifty day simple moving average is $11.25 and its two-hundred day simple moving average is $11.37. The company has a current ratio of 2.79, a quick ratio of 2.53 and a debt-to-equity ratio of 0.40.

CCC Intelligent Solutions (NYSE:CCCS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $232.60 million for the quarter, compared to analysts’ expectations of $230.16 million. CCC Intelligent Solutions had a net margin of 2.36% and a return on equity of 5.16%. CCC Intelligent Solutions’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.02 EPS. As a group, equities analysts predict that CCC Intelligent Solutions will post 0.15 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Brian Herb sold 20,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $10.24, for a total transaction of $213,882.88. Following the completion of the transaction, the insider now directly owns 217,872 shares of the company’s stock, valued at $2,231,009.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Brian Herb sold 20,887 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total value of $213,882.88. Following the transaction, the insider now directly owns 217,872 shares in the company, valued at approximately $2,231,009.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Rodney Christo sold 4,177 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $10.24, for a total value of $42,772.48. The disclosure for this sale can be found here. Insiders have sold a total of 67,802,280 shares of company stock valued at $772,070,710 in the last 90 days. 6.67% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CCC Intelligent Solutions

Several institutional investors have recently made changes to their positions in the business. Banque Cantonale Vaudoise increased its holdings in CCC Intelligent Solutions by 128.4% during the first quarter. Banque Cantonale Vaudoise now owns 2,533 shares of the company’s stock valued at $30,000 after buying an additional 1,424 shares during the last quarter. American International Group Inc. grew its position in shares of CCC Intelligent Solutions by 68.6% during the 1st quarter. American International Group Inc. now owns 2,789 shares of the company’s stock valued at $33,000 after acquiring an additional 1,135 shares during the period. CWM LLC increased its stake in shares of CCC Intelligent Solutions by 352.6% in the 2nd quarter. CWM LLC now owns 3,105 shares of the company’s stock worth $34,000 after purchasing an additional 2,419 shares in the last quarter. Park Place Capital Corp lifted its position in CCC Intelligent Solutions by 65.9% during the fourth quarter. Park Place Capital Corp now owns 4,175 shares of the company’s stock valued at $48,000 after purchasing an additional 1,659 shares in the last quarter. Finally, Twin Tree Management LP purchased a new position in CCC Intelligent Solutions during the first quarter valued at $53,000. Institutional investors own 95.79% of the company’s stock.

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.