CCC Intelligent Solutions’ (CCCS) “Outperform” Rating Reaffirmed at Barrington Research

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

CCCS has been the topic of a number of other research reports. Barclays decreased 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 note on Tuesday, October 29th. Piper Sandler restated a “neutral” rating and set a $13.00 price objective on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th. JPMorgan Chase & Co. upped their target price on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Morgan Stanley raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $14.00 to $15.00 in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $14.00.

CCC Intelligent Solutions Stock Performance

Shares of CCCS opened at $10.43 on Monday. The business has a 50-day simple moving average of $11.31 and a two-hundred day simple moving average of $11.23. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions has a 52 week low of $9.79 and a 52 week high of $12.88. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 521.76 and a beta of 0.71.

CCC Intelligent Solutions declared that its Board of Directors has authorized a share buyback plan on Friday, December 20th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to reacquire up to 4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at CCC Intelligent Solutions

In other news, Director Crescenzo Neil E. De purchased 100,000 shares of the business’s stock in a transaction on Friday, December 20th. The stock was acquired at an average price of $12.16 per share, for a total transaction of $1,216,000.00. Following the acquisition, the director now directly owns 100,000 shares of the company’s stock, valued at $1,216,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.67% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Eagle Bay Advisors LLC purchased a new stake in CCC Intelligent Solutions during the fourth quarter valued at $25,000. UMB Bank n.a. purchased a new stake in shares of CCC Intelligent Solutions during the 4th quarter valued at about $28,000. TD Private Client Wealth LLC bought a new position in shares of CCC Intelligent Solutions in the 4th quarter valued at about $31,000. Advisors Asset Management Inc. increased its stake in CCC Intelligent Solutions by 153.0% during the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock worth $32,000 after acquiring an additional 1,729 shares during the last quarter. Finally, Quarry LP purchased a new stake in CCC Intelligent Solutions during the fourth quarter valued at approximately $36,000. 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.