Crescenzo Neil E. De Acquires 100,000 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Director Crescenzo Neil E. De bought 100,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average price of $12.16 per share, for a total transaction of $1,216,000.00. Following the completion of the transaction, the director now owns 100,000 shares in the company, valued at $1,216,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

CCC Intelligent Solutions Stock Up 0.1 %

CCC Intelligent Solutions stock opened at $11.89 on Thursday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $7.44 billion, a PE ratio of 594.80, a PEG ratio of 6.80 and a beta of 0.71. The firm’s fifty day moving average is $11.78 and its 200 day moving average is $11.21. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings data on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $238.48 million for the quarter, compared to analysts’ expectations of $237.41 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The business’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

CCC Intelligent Solutions declared that its Board of Directors has initiated a share repurchase program on Friday, December 20th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CCCS. Barrington Research reiterated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their target price on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Piper Sandler reissued a “neutral” rating and issued a $13.00 price target on shares of CCC Intelligent Solutions in a research note on Wednesday, December 11th. Barclays cut their price objective 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, October 29th. Finally, Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $14.00 to $15.00 in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.89.

Institutional Trading of CCC Intelligent Solutions

Several hedge funds have recently bought and sold shares of CCCS. Ghisallo Capital Management LLC bought a new position in shares of CCC Intelligent Solutions in the second quarter valued at $132,917,000. Principal Financial Group Inc. raised its holdings in shares of CCC Intelligent Solutions by 37.8% in the 2nd quarter. Principal Financial Group Inc. now owns 25,250,230 shares of the company’s stock worth $280,530,000 after acquiring an additional 6,921,161 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in CCC Intelligent Solutions in the 2nd quarter valued at about $70,844,000. Van Berkom & Associates Inc. acquired a new position in CCC Intelligent Solutions during the 2nd quarter valued at about $61,605,000. Finally, Wasatch Advisors LP increased its holdings in 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 purchasing an additional 4,716,587 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

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.