Element Capital Management LLC Makes New Investment in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Element Capital Management LLC acquired a new stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 714,785 shares of the company’s stock, valued at approximately $7,941,000. CCC Intelligent Solutions accounts for 0.6% of Element Capital Management LLC’s investment portfolio, making the stock its 20th largest position. Element Capital Management LLC owned 0.11% of CCC Intelligent Solutions as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in CCC Intelligent Solutions by 17.7% in the 1st quarter. Vanguard Group Inc. now owns 28,034,997 shares of the company’s stock valued at $335,299,000 after buying an additional 4,225,920 shares during the period. Principal Financial Group Inc. grew its holdings in CCC Intelligent Solutions by 37.8% in the second 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. Janus Henderson Group PLC increased its position in CCC Intelligent Solutions by 7.4% during the first quarter. Janus Henderson Group PLC now owns 12,469,424 shares of the company’s stock worth $149,133,000 after purchasing an additional 857,110 shares during the last quarter. Brown Advisory Inc. raised its stake in CCC Intelligent Solutions by 128.7% during the fourth quarter. Brown Advisory Inc. now owns 10,436,353 shares of the company’s stock worth $118,870,000 after purchasing an additional 5,873,823 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of CCC Intelligent Solutions by 59.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,312,688 shares of the company’s stock valued at $123,340,000 after purchasing an additional 3,861,020 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Barrington Research restated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday, July 31st. Bank of America initiated coverage on CCC Intelligent Solutions in a research report on Tuesday, August 20th. They set a “buy” rating and a $15.00 price target for the company. Finally, Jefferies Financial Group cut their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.78.

CCC Intelligent Solutions Price Performance

Shares of NYSE CCCS opened at $10.89 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.79 and a quick ratio of 2.79. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $9.79 and a 1-year high of $13.41. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of -51.86, a PEG ratio of 6.16 and a beta of 0.62. The business has a 50-day moving average of $10.73 and a 200-day moving average of $11.24.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $232.60 million during the quarter, compared to analysts’ expectations of $230.16 million. CCC Intelligent Solutions had a return on equity of 5.16% and a net margin of 2.36%. CCC Intelligent Solutions’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.02 EPS. On average, equities analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current fiscal year.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 4,177 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $10.24, for a total value of $42,772.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other CCC Intelligent Solutions news, CAO Rodney Christo sold 4,177 shares of CCC Intelligent Solutions stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total transaction of $42,772.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Githesh Ramamurthy sold 24,541 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $11.50, for a total value of $282,221.50. Following the transaction, the insider now owns 6,463,840 shares of the company’s stock, valued at $74,334,160. The disclosure for this sale can be found here. In the last three months, insiders sold 25,292,611 shares of company stock valued at $285,547,265. Corporate insiders own 6.67% 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.