Park Avenue Securities LLC Increases Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Park Avenue Securities LLC grew its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 193.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 83,335 shares of the company’s stock after buying an additional 54,894 shares during the period. Park Avenue Securities LLC’s holdings in CCC Intelligent Solutions were worth $978,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Dragoneer Investment Group LLC raised its position in CCC Intelligent Solutions by 31.5% during the 2nd quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company’s stock worth $176,704,000 after buying an additional 3,809,200 shares during the last quarter. Adero Partners LLC raised its position in CCC Intelligent Solutions by 118.5% during the 3rd quarter. Adero Partners LLC now owns 5,780,925 shares of the company’s stock worth $63,879,000 after buying an additional 3,135,650 shares during the last quarter. Norman Fields Gottscho Capital Management LLC raised its position in CCC Intelligent Solutions by 34.5% during the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 397,489 shares of the company’s stock worth $4,663,000 after buying an additional 101,885 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in CCC Intelligent Solutions by 45.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company’s stock worth $1,824,000 after buying an additional 51,607 shares during the last quarter. Finally, Barclays PLC raised its position in CCC Intelligent Solutions by 155.7% during the 3rd quarter. Barclays PLC now owns 109,020 shares of the company’s stock worth $1,205,000 after buying an additional 66,386 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

CCC Intelligent Solutions Stock Performance

NYSE:CCCS opened at $11.20 on Tuesday. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $11.93 and a two-hundred day moving average price of $11.21. 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 market capitalization of $7.01 billion, a P/E ratio of 560.28 and a beta of 0.72.

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

CCC Intelligent Solutions announced that its board has initiated a stock buyback program on Friday, December 20th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 75,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $11.80, for a total transaction of $885,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Crescenzo Neil E. De purchased 100,000 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $12.16 per share, for a total transaction 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. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 443,153 shares of company stock valued at $5,390,863 in the last ninety days. Insiders own 6.67% of the company’s stock.

Analysts Set New Price Targets

CCCS has been the subject of a number of research analyst reports. Barrington Research reiterated an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Piper Sandler reiterated a “neutral” rating and issued a $13.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Barclays cut their price target 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. JPMorgan Chase & Co. increased their price target on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.89.

CCC Intelligent Solutions 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.