Crescenzo Neil E. De Purchases 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 CCC Intelligent Solutions stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $12.16 per share, with a total value of $1,216,000.00. Following the transaction, the director now owns 100,000 shares of the company’s stock, valued at $1,216,000. This trade represents a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CCC Intelligent Solutions Price Performance

Shares of CCCS stock opened at $11.89 on Wednesday. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $9.79 and a twelve month high of $12.88. 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 business has a fifty day simple moving average of $11.76 and a 200 day simple moving average of $11.20. The company has a market cap of $7.44 billion, a P/E ratio of 594.80, a P/E/G ratio of 6.80 and a beta of 0.71.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $238.48 million for the quarter, compared to the consensus estimate of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.03 EPS. On average, sell-side analysts forecast 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 approved a share buyback plan on Friday, December 20th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to purchase up to 4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On CCC Intelligent Solutions

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

Analyst Ratings Changes

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

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.