CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Director Buys $1,216,000.00 in Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) 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, for a total transaction of $1,216,000.00. Following the acquisition, the director now directly owns 100,000 shares of the company’s stock, valued at $1,216,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

CCC Intelligent Solutions Trading Down 1.4 %

NYSE CCCS traded down $0.17 during trading hours on Monday, hitting $11.88. 3,636,716 shares of the company’s stock were exchanged, compared to its average volume of 3,436,963. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The firm has a market capitalization of $7.43 billion, a P/E ratio of 594.30, a price-to-earnings-growth ratio of 6.80 and a beta of 0.71. The business’s 50 day moving average is $11.73 and its 200-day 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.

CCC Intelligent Solutions (NYSE:CCCS) last released its earnings results 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. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business had revenue of $238.48 million for the quarter, compared to analysts’ expectations of $237.41 million. During the same period last year, the company earned $0.03 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, analysts anticipate 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 authorized a stock repurchase program on Friday, December 20th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CCCS has been the topic of a number of research reports. Piper Sandler reissued a “neutral” rating and issued a $13.00 price objective on shares of CCC Intelligent Solutions in a research note on Wednesday, December 11th. Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock 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 on the stock in a research note on Tuesday, October 29th. 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. Finally, JPMorgan Chase & Co. upped their price objective on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.89.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its stake in shares of CCC Intelligent Solutions by 153.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock valued at $32,000 after purchasing an additional 1,729 shares in the last quarter. Huntington National Bank raised its holdings 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 buying an additional 1,599 shares during the period. Marco Investment Management LLC purchased a new stake in CCC Intelligent Solutions during the third quarter worth approximately $113,000. KBC Group NV boosted 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, Tidal Investments LLC purchased a new position in CCC Intelligent Solutions in the third quarter valued at about $117,000. Institutional investors and hedge funds own 95.79% of the company’s stock.

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.