CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Bought by Stifel Financial Corp

Stifel Financial Corp increased its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 12.5% in the third quarter, HoldingsChannel reports. The firm owned 162,076 shares of the company’s stock after purchasing an additional 18,062 shares during the period. Stifel Financial Corp’s holdings in CCC Intelligent Solutions were worth $1,791,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CCCS. Advisors Asset Management Inc. increased its stake in CCC Intelligent Solutions by 153.0% in the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock valued at $32,000 after acquiring an additional 1,729 shares during the period. Huntington National Bank raised its holdings in CCC Intelligent Solutions by 37.6% during the 3rd quarter. Huntington National Bank now owns 5,852 shares of the company’s stock worth $65,000 after purchasing an additional 1,599 shares during the last quarter. Marco Investment Management LLC acquired a new position in shares of CCC Intelligent Solutions in the 3rd quarter valued at $113,000. KBC Group NV raised its position in shares of CCC Intelligent Solutions by 81.7% in the 3rd quarter. KBC Group NV now owns 10,314 shares of the company’s stock valued at $114,000 after acquiring an additional 4,637 shares during the period. Finally, Quarry LP raised its stake in CCC Intelligent Solutions by 304.0% during the 2nd quarter. Quarry LP now owns 11,219 shares of the company’s stock worth $125,000 after buying an additional 8,442 shares during the period. 95.79% of the stock is owned by institutional investors.

Insider Activity

In other CCC Intelligent Solutions news, insider Mary Jo Prigge sold 97,511 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $12.01, for a total value of $1,171,107.11. Following the transaction, the insider now owns 97,268 shares in the company, valued at approximately $1,168,188.68. This represents a 50.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Githesh Ramamurthy sold 8,805 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $11.50, for a total transaction of $101,257.50. Following the completion of the transaction, the insider now directly owns 4,798,040 shares in the company, valued at $55,177,460. This trade represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 443,153 shares of company stock worth $5,390,863 in the last quarter. 6.67% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CCCS shares. Morgan Stanley raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $14.00 to $15.00 in a research note on Wednesday, November 13th. Barclays reduced their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. JPMorgan Chase & Co. upped their price target on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, Piper Sandler restated a “neutral” rating and issued a $13.00 price target on shares of CCC Intelligent Solutions in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $13.89.

CCC Intelligent Solutions Price Performance

CCCS stock opened at $12.05 on Friday. 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’s fifty day simple moving average is $11.73 and its 200 day simple moving average is $11.20. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $12.88. The firm has a market cap of $7.54 billion, a price-to-earnings ratio of 602.80, a PEG ratio of 6.80 and a beta of 0.71.

CCC Intelligent Solutions (NYSE:CCCS) last released its earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, topping the consensus estimate 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 business had revenue of $238.48 million during the quarter, compared to analysts’ expectations of $237.41 million. During the same quarter last year, the firm posted $0.03 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. On average, analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

CCC Intelligent Solutions declared that its board has approved a stock repurchase plan on Friday, December 20th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

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.