Analysts Set CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Price Target at $13.38

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) has received a consensus rating of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $13.14.

Several analysts have issued reports on CCCS shares. Barrington Research restated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $14.00 to $11.00 in a research note on Wednesday, February 26th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $11.00 target price (down previously from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th.

Insider Buying and Selling at CCC Intelligent Solutions

In other news, Director Eric Wei sold 42,000,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.32, for a total value of $433,440,000.00. Following the completion of the transaction, the director now directly owns 2,258,343 shares in the company, valued at approximately $23,306,099.76. This represents a 94.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Crescenzo Neil E. De purchased 100,000 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was purchased at an average price of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the purchase, the director now directly owns 100,000 shares in the company, valued at $1,216,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 6.67% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CCCS. Price T Rowe Associates Inc. MD raised its position in 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 purchasing an additional 9,607,085 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of CCC Intelligent Solutions during the 4th quarter valued at about $58,080,000. Wasatch Advisors LP boosted its position in shares of CCC Intelligent Solutions by 49.1% during the 3rd quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company’s stock valued at $158,358,000 after purchasing an additional 4,716,587 shares in the last quarter. Norges Bank acquired a new stake in CCC Intelligent Solutions during the fourth quarter worth approximately $50,032,000. Finally, T. Rowe Price Investment Management Inc. increased its holdings in CCC Intelligent Solutions by 6.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 68,866,717 shares of the company’s stock worth $807,807,000 after purchasing an additional 4,060,284 shares in the last quarter. 95.79% of the stock is owned by institutional investors.

CCC Intelligent Solutions Stock Performance

CCCS opened at $9.40 on Thursday. CCC Intelligent Solutions has a 52-week low of $8.83 and a 52-week high of $12.88. The firm has a market capitalization of $6.18 billion, a PE ratio of 470.24 and a beta of 0.73. 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 $10.62 and its 200 day simple moving average is $11.13.

CCC Intelligent Solutions announced that its Board of Directors has authorized a share buyback plan on Friday, December 20th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy 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.

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.