CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Insider Purchases $903,000.00 in Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) insider Timothy A. Welsh purchased 100,000 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were bought at an average price of $9.03 per share, for a total transaction of $903,000.00. Following the completion of the transaction, the insider now owns 168,472 shares of the company’s stock, valued at approximately $1,521,302.16. This trade represents a 146.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

CCC Intelligent Solutions Stock Up 1.6%

CCCS opened at $9.12 on Friday. The business’s fifty day simple moving average is $8.95 and its 200 day simple moving average is $10.51. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.14 and a 52 week high of $12.88. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The stock has a market cap of $6.01 billion, a PE ratio of 456.23 and a beta of 0.76.

CCC Intelligent Solutions (NYSE:CCCS) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $251.57 million for the quarter, compared to analyst estimates of $249.87 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 EPS. As a group, research analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on CCCS. Barclays reduced their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. Piper Sandler lowered their price objective on CCC Intelligent Solutions from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Barrington Research restated an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Wednesday, May 7th. Finally, Morgan Stanley lowered their price target on CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, CCC Intelligent Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.19.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CCCS. CIBC Asset Management Inc grew its holdings in shares of CCC Intelligent Solutions by 5.9% during the 4th quarter. CIBC Asset Management Inc now owns 19,046 shares of the company’s stock valued at $223,000 after purchasing an additional 1,054 shares during the last quarter. Berry Wealth Group LP boosted its holdings in CCC Intelligent Solutions by 5.8% during the 4th quarter. Berry Wealth Group LP now owns 20,224 shares of the company’s stock valued at $237,000 after acquiring an additional 1,109 shares during the period. Arizona State Retirement System grew its position in CCC Intelligent Solutions by 1.0% during the 4th quarter. Arizona State Retirement System now owns 117,507 shares of the company’s stock worth $1,378,000 after acquiring an additional 1,150 shares during the last quarter. Amalgamated Bank increased its stake in CCC Intelligent Solutions by 4.9% in the 1st quarter. Amalgamated Bank now owns 24,885 shares of the company’s stock worth $225,000 after purchasing an additional 1,163 shares during the period. Finally, Treasurer of the State of North Carolina lifted its position in CCC Intelligent Solutions by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 198,807 shares of the company’s stock valued at $2,332,000 after purchasing an additional 1,250 shares during the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

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.