Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) have recently garnered attention from analysts, receiving an average rating of “Moderate Buy” from eight research firms covering the company. Among these analysts, three have assigned a hold rating, while five have given a buy rating to the stock. The average twelve-month target price, based on recent coverage, stands at $13.75.
Jefferies Financial Group, one of the research firms, lowered their price target for CCC Intelligent Solutions from $14.00 to $13.00 but maintained a “buy” rating for the company. Bank of America initiated coverage on CCC Intelligent Solutions, also with a “buy” rating and a target price of $15.00. Additionally, Barrington Research reaffirmed an “outperform” rating and set a $14.00 price target for the stock.
In terms of financial performance, CCC Intelligent Solutions reported earnings of $0.09 per share for the last quarter, surpassing the consensus estimate of $0.08 by $0.01. The company’s revenue for the same period was $232.60 million, beating analyst estimates of $230.16 million. Comparing year-over-year, CCC Intelligent Solutions experienced a 9.9% increase in quarterly revenue. The company’s return on equity was 5.16%, and its net margin stood at 2.36%.
Insider trading activity has also been observed within CCC Intelligent Solutions. Brian Herb, an insider, sold 20,887 shares of the company’s stock at an average price of $10.24, resulting in a total value of $213,882.88. Following this transaction, Herb now holds 217,872 shares of CCC Intelligent Solutions, valued at $2,231,009.28. Another insider, Michael John Silva, sold 29,022 shares at an average price of $10.75, totaling $311,986.50. Silva currently owns 30,172 shares, valued at $324,349. Insiders have sold a total of 25,292,611 shares, amounting to $285,547,265 in the last ninety days. Insiders now hold 6.67% of the company’s stock.
Institutional investors have shown interest in CCC Intelligent Solutions as well. Wedmont Private Capital increased its holdings by 9.7% in the first quarter, now owning 12,266 shares valued at $146,000. American International Group Inc. raised its stake by 68.6% in the same period, holding 2,789 shares worth $33,000. Other institutional investors, including Bradley Foster & Sargent Inc. CT, Banque Cantonale Vaudoise, and Parkside Financial Bank & Trust, have also increased their positions in CCC Intelligent Solutions.
CCC Intelligent Solutions Holdings Inc. operates as a software as a service company in the property and casualty insurance sector in the United States and China. The company’s cloud-based platform facilitates commerce and supports artificial intelligence-enabled digital workflows across the insurance economy, connecting various trading partners such as insurers, repairers, automakers, parts suppliers, and lenders.