CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Given Consensus Recommendation of “Moderate Buy” by Analysts

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

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

CCC Intelligent Solutions Stock Down 0.8 %

Shares of CCC Intelligent Solutions stock opened at $9.19 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The company has a 50-day moving average of $10.53 and a 200 day moving average of $11.10. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 459.73 and a beta of 0.73. CCC Intelligent Solutions has a 1 year low of $8.83 and a 1 year high of $12.88.

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

Insiders Place Their Bets

In other news, CAO Rodney Christo sold 20,077 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total value of $204,785.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eric Wei sold 42,000,000 shares of the firm’s 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 owns 2,258,343 shares in the company, valued at approximately $23,306,099.76. This trade represents a 94.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.67% of the company’s stock.

Hedge Funds Weigh In On CCC Intelligent Solutions

A number of institutional investors and hedge funds have recently modified their holdings of CCCS. Price T Rowe Associates Inc. MD boosted its stake in shares of CCC Intelligent Solutions by 4,172.1% in 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 buying an additional 9,607,085 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of CCC Intelligent Solutions in the 4th quarter worth $58,080,000. Wasatch Advisors LP boosted its stake in shares of CCC Intelligent Solutions by 49.1% in the 3rd quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company’s stock worth $158,358,000 after buying an additional 4,716,587 shares during the last quarter. Norges Bank purchased a new position in shares of CCC Intelligent Solutions in the 4th quarter worth $50,032,000. Finally, T. Rowe Price Investment Management Inc. boosted its stake in shares of CCC Intelligent Solutions by 6.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 68,866,717 shares of the company’s stock worth $807,807,000 after buying an additional 4,060,284 shares during the last quarter. 95.79% of the stock is currently owned by hedge funds and other 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.