CCC Intelligent Solutions’ (CCCS) Outperform Rating Reiterated at Barrington Research

Barrington Research restated their outperform rating on shares of CCC Intelligent Solutions (NYSE:CCCS) in a report released on Monday morning,Benzinga reports. The firm currently has a $14.00 price target on the stock.

A number of other equities analysts also recently weighed in on the stock. Barclays lowered 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 report on Tuesday, October 29th. JPMorgan Chase & Co. boosted their price objective on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Piper Sandler reiterated a “neutral” rating and set a $13.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Finally, Morgan Stanley raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $14.00 to $15.00 in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.38.

CCC Intelligent Solutions Stock Up 0.1 %

CCCS stock opened at $10.31 on Monday. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 515.76 and a beta of 0.71. CCC Intelligent Solutions has a twelve month low of $9.79 and a twelve month high of $12.88. The business has a 50 day moving average price of $11.20 and a two-hundred day moving average price of $11.22. 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 announced that its board has authorized a share repurchase plan on Friday, December 20th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to purchase up to 4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity at CCC Intelligent Solutions

In other news, Director Crescenzo Neil E. De acquired 100,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average price of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at $1,216,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CCC Intelligent Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in CCC Intelligent Solutions by 4,172.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,837,354 shares of the company’s stock valued at $115,394,000 after acquiring an additional 9,607,085 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in shares of CCC Intelligent Solutions in the 4th quarter valued at $58,080,000. Wasatch Advisors LP raised its holdings 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 worth $158,358,000 after buying an additional 4,716,587 shares in the last quarter. Norges Bank bought a new stake in shares of CCC Intelligent Solutions during the 4th quarter worth $50,032,000. Finally, T. Rowe Price Investment Management Inc. boosted its stake 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 valued at $807,807,000 after buying an additional 4,060,284 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

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.