Tidal Investments LLC Acquires New Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Tidal Investments LLC bought a new position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,588 shares of the company’s stock, valued at approximately $117,000.

A number of other institutional investors have also recently bought and sold shares of CCCS. Ghisallo Capital Management LLC acquired a new stake in shares of CCC Intelligent Solutions during the second quarter worth $132,917,000. Principal Financial Group Inc. raised its stake 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 valued at $280,530,000 after purchasing an additional 6,921,161 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in shares of CCC Intelligent Solutions in the second quarter valued at about $70,844,000. Van Berkom & Associates Inc. acquired a new position in shares of CCC Intelligent Solutions during the second quarter worth about $61,605,000. Finally, Wasatch Advisors LP grew its holdings in shares of CCC Intelligent Solutions by 49.1% during the third 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 in the last quarter. Institutional investors own 95.79% of the company’s stock.

Insider Buying and Selling at CCC Intelligent Solutions

In related news, insider Mary Jo Prigge sold 2,489 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $12.00, for a total value of $29,868.00. Following the completion of the sale, the insider now directly owns 97,268 shares in the company, valued at $1,167,216. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Githesh Ramamurthy sold 9,348 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $11.50, for a total value of $107,502.00. Following the completion of the transaction, the insider now directly owns 4,798,040 shares in the company, valued at approximately $55,177,460. This represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 443,153 shares of company stock worth $5,390,863 over the last ninety days. Insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Trading Up 0.1 %

Shares of NYSE:CCCS opened at $11.89 on Thursday. The company has a 50-day simple moving average of $11.78 and a 200 day simple moving average of $11.21. The company has a market capitalization of $7.44 billion, a P/E ratio of 594.80, a price-to-earnings-growth ratio of 6.80 and a beta of 0.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $9.79 and a 52-week 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, 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 company had revenue of $238.48 million during the quarter, compared to analysts’ expectations of $237.41 million. During the same period last year, the firm posted $0.03 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts forecast 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 share repurchase program on Friday, December 20th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

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

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.