CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Purchased by Barclays PLC

Barclays PLC boosted its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 155.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,020 shares of the company’s stock after buying an additional 66,386 shares during the period. Barclays PLC’s holdings in CCC Intelligent Solutions were worth $1,205,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CCCS. Advisors Asset Management Inc. boosted its holdings in shares of 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 in the last quarter. Huntington National Bank lifted its position in CCC Intelligent Solutions by 37.6% in the third quarter. Huntington National Bank now owns 5,852 shares of the company’s stock valued at $65,000 after purchasing an additional 1,599 shares during the period. Marco Investment Management LLC purchased a new stake in CCC Intelligent Solutions in the 3rd quarter valued at approximately $113,000. KBC Group NV increased its position in CCC Intelligent Solutions by 81.7% during the 3rd quarter. KBC Group NV now owns 10,314 shares of the company’s stock worth $114,000 after purchasing an additional 4,637 shares during the period. Finally, Quarry LP raised its stake in shares of 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 in the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

CCC Intelligent Solutions Stock Up 0.6 %

Shares of NYSE CCCS opened at $11.95 on Monday. The firm’s 50-day moving average is $11.81 and its two-hundred day moving average is $11.21. The company has a market capitalization of $7.47 billion, a PE ratio of 597.80, a price-to-earnings-growth ratio of 6.80 and a beta of 0.71. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $12.88. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $238.48 million during the quarter, compared to the consensus estimate of $237.41 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. Equities analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

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

Insider Activity

In related news, insider Mary Jo Prigge sold 2,489 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $12.00, for a total transaction of $29,868.00. Following the sale, the insider now owns 97,268 shares in the company, valued at approximately $1,167,216. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Crescenzo Neil E. De bought 100,000 shares of the stock in a transaction on Friday, December 20th. The stock was purchased at an average cost of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the purchase, the director now directly owns 100,000 shares in the company, valued at $1,216,000. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. Insiders have sold 443,153 shares of company stock worth $5,390,863 over the last three months. 6.67% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on CCCS. 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. JPMorgan Chase & Co. upped their price target on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their price target 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 objective on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Finally, Barclays dropped their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.