Van Berkom & Associates Inc. Acquires 1,145,160 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Van Berkom & Associates Inc. grew its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 17.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,752,187 shares of the company’s stock after purchasing an additional 1,145,160 shares during the quarter. CCC Intelligent Solutions comprises about 2.2% of Van Berkom & Associates Inc.’s investment portfolio, making the stock its 23rd biggest position. Van Berkom & Associates Inc.’s holdings in CCC Intelligent Solutions were worth $70,002,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP bought a new stake in CCC Intelligent Solutions in the fourth quarter worth $36,000. Machina Capital S.A.S. acquired a new stake in shares of CCC Intelligent Solutions in the first quarter worth about $98,000. Valeo Financial Advisors LLC bought a new stake in shares of CCC Intelligent Solutions during the 1st quarter worth about $100,000. Sagespring Wealth Partners LLC acquired a new position in shares of CCC Intelligent Solutions during the 4th quarter valued at about $133,000. Finally, Two Sigma Securities LLC acquired a new position in shares of CCC Intelligent Solutions during the 4th quarter valued at about $139,000. Institutional investors own 95.79% of the company’s stock.

Insider Activity at CCC Intelligent Solutions

In related news, Director Crescenzo Neil E. De acquired 100,000 shares of the business’s stock in a transaction dated Friday, May 23rd. The stock was acquired at an average price of $8.54 per share, with a total value of $854,000.00. Following the completion of the transaction, the director owned 213,429 shares of the company’s stock, valued at approximately $1,822,683.66. This represents a 88.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Timothy A. Welsh bought 100,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average price of $9.03 per share, with a total value of $903,000.00. Following the purchase, the insider owned 168,472 shares of the company’s stock, valued at $1,521,302.16. This trade represents a 146.05% increase in their position. The disclosure for this purchase can be found here. 6.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CCCS. Barrington Research restated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday, May 7th. Morgan Stanley dropped their price target on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. 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. Piper Sandler lowered their target price on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group dropped their target price on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a “buy” rating on the stock in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, CCC Intelligent Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $12.06.

CCC Intelligent Solutions Stock Up 1.4%

Shares of CCCS stock opened at $10.02 on Friday. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $8.14 and a 12 month 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 firm has a market cap of $6.60 billion, a PE ratio of 501.25 and a beta of 0.74. The stock has a 50 day moving average of $9.28 and a 200-day moving average of $9.61.

CCC Intelligent Solutions (NYSE:CCCS) last announced its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. The business had revenue of $251.57 million for the quarter, compared to analyst estimates of $249.87 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. CCC Intelligent Solutions’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 earnings per share. On average, equities analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

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.