JPMorgan Chase & Co. Has Lowered Expectations for CCC Intelligent Solutions (NYSE:CCCS) Stock Price

CCC Intelligent Solutions (NYSE:CCCS) had its price objective reduced by JPMorgan Chase & Co. from $14.00 to $13.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts also recently issued reports on the stock. Jefferies Financial Group cut their target price on shares of 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. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Tuesday. Bank of America began coverage on CCC Intelligent Solutions in a research note on Tuesday, August 20th. They set a “buy” rating and a $15.00 target price for the company. Finally, Barclays dropped their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, CCC Intelligent Solutions presently has an average rating of “Moderate Buy” and an average price target of $13.56.

CCC Intelligent Solutions Stock Up 0.6 %

CCCS stock opened at $10.47 on Tuesday. CCC Intelligent Solutions has a twelve month low of $9.79 and a twelve month high of $12.68. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 523.76, a P/E/G ratio of 6.15 and a beta of 0.62. The company has a quick ratio of 2.79, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average price of $10.83 and a two-hundred day moving average price of $11.00.

CCC Intelligent Solutions (NYSE:CCCS) last released its earnings results on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business had revenue of $238.48 million during the quarter, compared to analysts’ expectations of $237.41 million. During the same period last year, the business earned $0.03 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. Analysts anticipate that CCC Intelligent Solutions will post 0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider John Page Goodson sold 45,560 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $10.08, for a total value of $459,244.80. Following the transaction, the insider now directly owns 87,892 shares in the company, valued at approximately $885,951.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider John Page Goodson sold 45,560 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $10.08, for a total value of $459,244.80. Following the completion of the sale, the insider now directly owns 87,892 shares in the company, valued at approximately $885,951.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eileen Schloss sold 99,925 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $9.89, for a total value of $988,258.25. Following the transaction, the director now owns 54,047 shares in the company, valued at approximately $534,524.83. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 213,323 shares of company stock worth $2,157,354 in the last 90 days. Company insiders own 6.67% of the company’s stock.

Institutional Investors Weigh In On CCC Intelligent Solutions

Large investors have recently bought and sold shares of the company. Sei Investments Co. boosted its position in shares of CCC Intelligent Solutions by 15.3% during the 1st quarter. Sei Investments Co. now owns 1,887,533 shares of the company’s stock worth $22,575,000 after acquiring an additional 250,314 shares in the last quarter. Dragoneer Investment Group LLC boosted its holdings in shares of CCC Intelligent Solutions by 31.5% in the 2nd quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company’s stock valued at $176,704,000 after purchasing an additional 3,809,200 shares in the last quarter. Comerica Bank increased its stake in shares of CCC Intelligent Solutions by 103.1% in the 1st quarter. Comerica Bank now owns 774,261 shares of the company’s stock valued at $9,260,000 after purchasing an additional 392,966 shares during the last quarter. Swiss National Bank raised its holdings in shares of CCC Intelligent Solutions by 14.5% during the 1st quarter. Swiss National Bank now owns 475,900 shares of the company’s stock worth $5,692,000 after buying an additional 60,400 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of CCC Intelligent Solutions by 200.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 203,543 shares of the company’s stock worth $2,261,000 after buying an additional 135,710 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

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.