CCC Intelligent Solutions (NYSE:CCCS) Upgraded by Morgan Stanley to “Overweight” Rating

CCC Intelligent Solutions (NYSE:CCCS) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The firm currently has a $15.00 price target on the stock, up from their prior price target of $14.00. Morgan Stanley’s target price would suggest a potential upside of 30.43% from the stock’s current price.

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

CCC Intelligent Solutions Price Performance

Shares of CCCS opened at $11.50 on Wednesday. The business has a 50-day simple moving average of $10.89 and a two-hundred day simple moving average of $10.98. CCC Intelligent Solutions has a 12-month low of $9.79 and a 12-month high of $12.68. The stock has a market cap of $7.19 billion, a PE ratio of 575.29, a PEG ratio of 6.55 and a beta of 0.63. 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 (NYSE:CCCS) last released its quarterly earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The firm had revenue of $238.48 million for the quarter, compared to analyst estimates of $237.41 million. During the same quarter in the previous year, the company posted $0.03 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Analysts anticipate that CCC Intelligent Solutions will post 0.16 earnings per share for the current fiscal year.

Insider Transactions at CCC Intelligent Solutions

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

Institutional Trading of CCC Intelligent Solutions

Large investors have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of CCC Intelligent Solutions by 5.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 32,082 shares of the company’s stock worth $384,000 after acquiring an additional 1,619 shares during the period. Swiss National Bank boosted its stake in CCC Intelligent Solutions by 14.5% during the first quarter. Swiss National Bank now owns 475,900 shares of the company’s stock valued at $5,692,000 after buying an additional 60,400 shares during the period. Russell Investments Group Ltd. boosted its stake in CCC Intelligent Solutions by 0.6% during the first quarter. Russell Investments Group Ltd. now owns 278,964 shares of the company’s stock valued at $3,336,000 after buying an additional 1,622 shares during the period. Orion Portfolio Solutions LLC boosted its stake in CCC Intelligent Solutions by 27.5% during the first quarter. Orion Portfolio Solutions LLC now owns 190,057 shares of the company’s stock valued at $2,273,000 after buying an additional 40,969 shares during the period. Finally, Twin Tree Management LP bought a new stake in CCC Intelligent Solutions during the first quarter valued at $53,000. 95.79% of the stock is owned by hedge funds and other institutional investors.

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.