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

Barrington Research reaffirmed their outperform rating on shares of CCC Intelligent Solutions (NYSE:CCCS) in a research note issued to investors on Monday morning,Benzinga reports. They currently have a $14.00 target price on the stock.

Several other research firms have also issued reports on CCCS. Barclays lowered their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Piper Sandler reissued a “neutral” rating and set a $13.00 target price on shares of CCC Intelligent Solutions in a research note on Wednesday, December 11th. Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $14.00 to $15.00 in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. increased their price target on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.38.

CCC Intelligent Solutions Trading Up 0.1 %

Shares of CCCS stock opened at $10.31 on Monday. CCC Intelligent Solutions has a 1-year low of $9.79 and a 1-year high of $12.88. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 515.76 and a beta of 0.71. The stock has a 50-day moving average of $11.20 and a 200-day moving average of $11.22.

CCC Intelligent Solutions declared that its board has initiated a share buyback program on Friday, December 20th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De bought 100,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was bought at an average cost 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 in the company, valued at approximately $1,216,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 6.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CCC Intelligent Solutions

A number of hedge funds have recently added to or reduced their stakes in CCCS. Cache Advisors LLC bought a new position in shares of CCC Intelligent Solutions in the fourth quarter valued at approximately $1,362,000. Squarepoint Ops LLC raised its position in CCC Intelligent Solutions by 736.2% in the 4th quarter. Squarepoint Ops LLC now owns 141,091 shares of the company’s stock valued at $1,655,000 after buying an additional 124,218 shares during the last quarter. Twinbeech Capital LP bought a new position in CCC Intelligent Solutions during the 4th quarter valued at $489,000. TPG GP A LLC boosted its holdings in CCC Intelligent Solutions by 17.3% during the 4th quarter. TPG GP A LLC now owns 4,087,220 shares of the company’s stock worth $47,943,000 after acquiring an additional 602,959 shares during the last quarter. Finally, State of Wyoming grew its stake in shares of CCC Intelligent Solutions by 26.7% in the 4th quarter. State of Wyoming now owns 17,680 shares of the company’s stock worth $207,000 after acquiring an additional 3,731 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

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.