CCC Intelligent Solutions (NYSE:CCCS) Upgraded to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of CCC Intelligent Solutions (NYSE:CCCS) from an equal weight rating to an overweight rating in a research report sent to investors on Wednesday morning, Marketbeat reports. Morgan Stanley currently has $15.00 price objective on the stock, up from their prior price objective of $14.00.

CCCS has been the subject of several other research reports. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Jefferies Financial Group dropped their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. decreased their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Bank of America began coverage on CCC Intelligent Solutions in a research note on Tuesday, August 20th. They issued a “buy” rating and a $15.00 price target for the company. Finally, Barclays reduced their price objective 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. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, CCC Intelligent Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $13.78.

CCC Intelligent Solutions Stock Up 1.0 %

CCCS opened at $11.62 on Wednesday. The firm’s 50 day simple moving average is $10.91 and its two-hundred day simple moving average is $10.99. The company has a market capitalization of $7.27 billion, a PE ratio of 581.29, a PEG ratio of 6.60 and a beta of 0.63. CCC Intelligent Solutions has a 1-year low of $9.79 and a 1-year high of $12.68. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions (NYSE:CCCS) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $238.48 million during the quarter, compared to the consensus estimate of $237.41 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 EPS. As a group, equities analysts forecast that CCC Intelligent Solutions will post 0.16 EPS for the current year.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider Michael John Silva sold 29,022 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $10.75, for a total transaction of $311,986.50. Following the sale, the insider now directly owns 30,172 shares of the company’s stock, valued at $324,349. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other CCC Intelligent Solutions news, insider Michael John Silva sold 29,022 shares of CCC Intelligent Solutions stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $10.75, for a total transaction of $311,986.50. Following the completion of the transaction, the insider now directly owns 30,172 shares of the company’s stock, valued at $324,349. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Githesh Ramamurthy sold 8,805 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $11.50, for a total transaction of $101,257.50. Following the completion of the sale, the insider now directly owns 4,798,040 shares in the company, valued at approximately $55,177,460. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,175 shares of company stock valued at $520,746 over the last 90 days. 6.67% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. American International Group Inc. boosted its holdings in 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. Amalgamated Bank boosted its stake in shares of CCC Intelligent Solutions by 5.8% during the third quarter. Amalgamated Bank now owns 23,722 shares of the company’s stock valued at $262,000 after purchasing an additional 1,299 shares during the period. Bradley Foster & Sargent Inc. CT increased its stake in CCC Intelligent Solutions by 2.1% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 67,047 shares of the company’s stock worth $745,000 after buying an additional 1,390 shares during the period. Hardy Reed LLC lifted its holdings in CCC Intelligent Solutions by 7.1% during the 3rd quarter. Hardy Reed LLC now owns 21,540 shares of the company’s stock valued at $238,000 after buying an additional 1,430 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in CCC Intelligent Solutions by 15.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 11,849 shares of the company’s stock valued at $132,000 after buying an additional 1,564 shares during the period. Hedge funds and other 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.